- For Sale $4,475,000
- Property Type Mixed Use
- Property Size 13,096 SF
- Lot Size 0.12 Acre
- # of Floors 3
- Average Floor Size 4,200 SF
- Parking Spaces Avail. 22
- Parking Ratio 1.68 / 1,000 SF
- Property Tenancy Multi-Tenant
- Building Class B
- Year Built 1946
- Year Renovated 2008
- Date Updated Dec 18, 2023
* 5-Year Lease Extensions by tenants USPS and iData.
* Office floors upgraded to Class-A style.
* Upside with 3rd floor vacancy.
* An incredible—and rare—22 parking spaces.
* Residential conversion opportunity.
This unique property in the heart of Alexandria’s vibrant and popular Del Ray neighborhood offers an opportunity for both users and investors, particularly with its multiple value-add opportunities.
For users, operate your business on the now-vacant third floor while you benefit from $225,000+ in gross annual income from existing tenants, USPS and iData, each of which recently exercised options to extend leases for another five years as of January 1, 2024.
For investors, lease up the third floor either as is for professional office, or target for more retail-like uses allowed under CL zoning, which could generate a higher rent than straight office. The 3rd floor has intentionally been kept vacant for a prospective owner-user to occupy. If leased, expect another $100K +/- in gross income.
Among the value-add scenarios is to convert the third floor to residential, specifically four 1-BR apartments, that could command up to $2,350 per unit, based on a recent nearby lease comp.
Looking ahead, when lease options eventually expire, the second floor could also be converted to residential under the Mt. Vernon Overlay plan, for a total of eight 1-BR units, and the ground floor could be converted to other uses allowed under existing zoning, including restaurant use, yielding better returns.
Included in asking price are an incredible--and rare--22 parking spaces on two RB-zoned lots behind the building at 115-117 E. Howell Ave. Parking allowed on these residential lots under an SUP that would need to be renewed by new owner.
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Tenants
| Tenant Name | Suite Number | Available Area | Expiration Date |
|---|---|---|---|
| iData | 2nd Floor | 3,500 Sq. Ft. |
Location
Getting Around
-
Walk Score ®
94/100
Walker's Paradise
-
Transit Score ®
53/100
Good Transit
-
Bike Score ®
94/100
Biker's Paradise
- City Alexandria, VA
- Neighborhood Del Ray
- Zip Code 22301
- Market Washington DC Suburban Maryland
Points of Interest
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Braddock Road
0.72 miles
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Braddock Road Metro Station
0.74 miles
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King Street Metro Station
1.15 miles
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King Street
1.15 miles
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King Street Metro Station
1.19 miles
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King Street–Old Town
1.20 miles
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King St-Old Town
1.21 miles
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Alexandria
1.22 miles
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Alexandria Union Station
1.22 miles
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Taxi Cabs
1.27 miles
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Shell
0.21 miles
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Exxon
0.21 miles
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Yates Automotive
0.71 miles
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Shell
0.81 miles
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Old Town Mart
0.98 miles
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Shell
1.03 miles
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Shell
1.05 miles
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Liberty
1.07 miles
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Exxon
1.08 miles
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ChargePoint
1.24 miles
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Hyundai Dealership
0.12 miles
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Euro Imports
0.87 miles
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Table Talk
1.33 miles
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LandDesign
1.33 miles
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1600 Duke St Garage
1.40 miles
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Whole Foods Market
1.40 miles
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Economy Parking
1.47 miles
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USPTO East Garage
1.57 miles
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USPTO West Garage
1.57 miles
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Thompson's Alley
1.62 miles
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Holiday Inn & Suites Alexandria - Old Town
1.01 miles
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Sheraton Suites Alexandria Old Town
1.09 miles
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Club Wyndham Old Town Alexandria
1.13 miles
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Hilton Alexandria Old Town
1.16 miles
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Hyatt Centric
1.18 miles
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Hampton Inn Alexandria - Old Town/King Street Metro
1.22 miles
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Lorien Hotel & Spa
1.22 miles
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Embassy Suites by Hilton Alexandria-Old Town
1.28 miles
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Hilton Garden Inn Alexandria Old Town
1.29 miles
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Residence Inn Alexandria Old Town/Duke Street
1.41 miles
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Evening Star Cafe
0.02 miles
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Front Porch
0.03 miles
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Rouge Catering
0.03 miles
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Kaizen
0.03 miles
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Rosemarino d'Italia
0.03 miles
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Del Ray Cafe
0.04 miles
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Thai Peppers
0.05 miles
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Del Ray Pizzaria
0.15 miles
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Market 2 Market
0.17 miles
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Mount Vernon Cafe
0.19 miles
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Creative Play School
0.10 miles
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Immanuel Lutheran School
0.38 miles
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Alexandria Friends School
0.43 miles
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Saint Stephen's and Saint Agnes Lower School
0.51 miles
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Emmanuel Episcopal Church Preschool
0.52 miles
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Alexandria Country Day School
0.53 miles
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George Washington Middle School
0.59 miles
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Suburban School
0.61 miles
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Parker Gray Middle School
0.75 miles
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Naomi L Brooks Elementary School
0.82 miles
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Madison Day School
0.10 miles
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The Nest Academy
0.35 miles
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Discovery Time Learning Center
0.39 miles
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Del Ray Baptist Child Care Center
0.43 miles
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Kiddie Academy of Alexandria
0.63 miles
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Discovery Time Learning Academy
0.66 miles
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Bright Horizons
2.03 miles
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Cody Child Development Center
3.45 miles
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Child care center.
3.68 miles
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The Merit School of Arlington
4.22 miles
Frequently Asked Questions
What is the lease rate for 1908 MT Vernon Ave?
Rental asking rate at 1908 MT Vernon Ave is $2,237,500.00/YR.
What is the total square footage of 1908 MT Vernon Ave?
1908 MT Vernon Ave totals 13,096 square feet.
When was this property built?
1908 MT Vernon Ave was built in 1946.
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