Skip To Content

601-607 S Washington Street

ALEXANDRIA, VA 22314
  • $8,000,000
  • STATUS: Active
  • ON SITE: 39 Days
  • ID#: VAAX2011858
$8,000,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1870
County:

School Ratings & Info

Description

SALE-LEASEBACK OPPORTUNITY for two buildings fully renovated in 2021 located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria. (601 & 607 S. Washington Street Alexandria, VA 22314). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for The Linder Academy, the current owner.Price: $8,000,000 Sale-leasebackCap rate: 5.6%Asking Rent on leaseback: $38/SQFT with 2% annual escalation plus pass through expenses paid by tenant to include maintain, utilities and property tax. Landlord would only pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo buildings totaling 11,680SQFT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA

Monthly Payment Calculator



©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Executives. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-27T23:52:14.243.
www.bruceandtanya.com/homes/127817766
Print Image

601-607 S Washington Street ALEXANDRIA, VA 22314

  • Price: $8,000,000
  • Status: Active
  • On Site: 39 Days
  • ID#: VAAX2011858
0
Beds
0
Baths
0
½ Baths
0.21
Acres
1870
Built
County:
Alexandria City
School District:
Alexandria City Public Schools
Property Description
SALE-LEASEBACK OPPORTUNITY for two buildings fully renovated in 2021 located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria. (601 & 607 S. Washington Street Alexandria, VA 22314). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for The Linder Academy, the current owner.Price: $8,000,000 Sale-leasebackCap rate: 5.6%Asking Rent on leaseback: $38/SQFT with 2% annual escalation plus pass through expenses paid by tenant to include maintain, utilities and property tax. Landlord would only pay insurance.Term: Initial 10-year lease plus 10-year and 5-year lease extension optionsTwo buildings totaling 11,680SQFT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA
Exterior Features

Construction Materials Brick Garage YN No Location Type Urban Lot Features Corner Parking Features Surface Parking Types Parking Lot Property Condition Excellent Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 11680.00 Cooling Central A/C Heating Central Heating YN Yes Net Square Feet 11680.00

Property Features

Acceptable Financing CashConventional Accessibility Features ChairliftOther Assessment Year 2021 Business Type School Central Air YN Yes Cooling Fuel Electric Cross Street Gibbon Street Ground Rent Payment Frequency Annually Heating Fuel Natural Gas Historic YN Yes Hot Water Natural Gas Lease Considered YN Yes Navigable Water YN N Net Operating Income 445500.00 New Construction YN No Original MLSNumber 801483153722 Ownership Interest Fee Simple Possession Seller Rent Back Property Sub Type Special Purpose Sale Type Standard Sewer Public Sewer Tax Annual Amount 4200422.00 Tax Assessment Amount 4200422.00 Tax Lot 607 Vacation Rental YN No Water Source Public Year Built Effective 2021 Zoning Cl Zoning Description Private School Use

Listing courtesy of Yeonas & Shafran Real Estate, Llc.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Executives. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-27T23:52:14.243.
 
https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_801483153722-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_801483153722-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/1280_boomver_1_801483153722-2.jpg
Logo
RE/MAX Executives
8442 Old Keene Mill Road
Springfield VA, 22152