601-607 S Washington St, ALEXANDRIA

$7,500,000

0 Bed
0 Bath
11,680 Sqft
.21 Acre
13 Parking

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.
Price: $7,500,000 Sale-leaseback
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

Essential Information
MLS® #VAAX2011858
Price$7,500,000
Bathrooms0.00
Square Footage11,680
Acres0.21
Year Built1870
TypeCommercial Sale
Sub-TypeSpecial Purpose
StatusActive
Community Information
Address601-607 S Washington St
CityALEXANDRIA
CountyALEXANDRIA CITY-VA
StateVA
Zip Code22314
Amenities
ParkingSurface
Parking Spaces13
Interior
HeatingCentral
CoolingCentral A/C
Exterior
ExteriorBrick and Siding
Lot DescriptionCorner Lot
School Information
DistrictALEXANDRIA CITY PUBLIC SCHOOLS
Additional Information
ZoningCL
Condo Fees$0
HOA Fees$0
Office

Yeonas & Shafran Real Estate, LLC

Property History
Price Reduced from $8,000,000 to $7,500,000
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Listing information last updated on September 26th, 2022 at 6:30am EDT.