CLOSED
601-607 S Washington St
Alexandria VA, 22314
$7,000,000
$599.32 per sqft
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
May 9, 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
Buyer Agency Compensation
3%
Listed by Omar F. Younes, Dean P Yeonas with Yeonas & Shafran Real Estate, LLC
Listing Contact: 4014414311
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Data last updated on 5/9/2024 at 5:31 AM UTC
