Sold

CLOSED

601-607 S Washington St

Alexandria VA, 22314

$7,000,000


$599.32 per sqft

Sold

CLOSED

11,680 sqft

Commercial

Built in 1870

SALE-LEASEBACK OPPORTUNITY for two fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy.
Offer Price: $7,500,000 Sale-leaseback
Offering Cap rate: 6.5%
Asking Rent on leaseback: $41.76/SQFT (i.e. 40,650/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities, property tax and insurance. A true NNN lease
Term: Initial 10-year lease plus 10-year and 5-year lease extension options (with preference for longer term)
Two extraordinary buildings totaling 11,680 SQ FT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA

VAAX2011858

MLS ID

April 18, 2022

Listed

October 2, 2024

Updated

Map

601-607 S Washington St
Alexandria VA, 22314

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Natural Gas

Exterior/Building Features

Lot Size

0.21 Acres


Lot Features

Corner Lot


Sewer

Public Sewer

Other Property Details

Taxes

$4,200,422


Tax Frequency

Annually


Days on Market

165


Garage

No


Parking Total

13


View

No


County

ALEXANDRIA CITY


Water Source

Public


Pool

No


Zoning

Private School Use

Listed by Yeonas & Shafran Real Estate, LLC
Listing Contact: 4014414311 

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Data last updated on 10/2/2024 at 6:35 AM UTC

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