Alexandria is located in Virginia. Alexandria, Virginia has a population of 160,389. 21.17% of the household in Alexandria contain married families with children. The county average for households married with children is 20%.
The median household income in Alexandria, Virginia is $104,273. The median household income for the surrounding county is $104,273 compared to the national median of $66,222. The median age of people living in Alexandria is 40.9 years.
The average high temperature in July is 88.3 degrees, with an average low temperature in January of 27.3 degrees. The average rainfall is approximately 39.35 inches per year, with inches of snow per year.
Great opportunity to own part of Del Ray's business district! 5,450 sf of building space currently built out into offices, storage and a separate garage space. 15,536 sf of lot space with tons of potential. Don't miss that you have access to the property from the main entrance on Mount Vernon Avenue but also egress from E Mason Ave. Centrally on Mt. Vernon Avenue. The building is surrounded by shops and restaurants in a family friendly, walkable neighborhood, with an average home sale price of over $1 million. The following uses are permitted in the CL zone: (A)Single-unit dwelling;(A.1)Two-unit dwelling;(A.2)Townhouse dwelling;(B)Multi-unit dwelling;(B.1)Auxiliary dwelling, not to exceed four units;(C)Business and professional office;(D)Cemetery;(E)Church;(E.1)Day care center;(F)Medical laboratory;(F.1)Health and athletic club or fitness studio;(G)Health profession office;(G.1)Motor vehicle parking or storage for 20 vehicles or fewer;(G.2)Outdoor dining located on private property at a commercial complex;(H)Personal service establishment;(I)Private school, commercial;(J)Public school;(J.1)Restaurant located within a commercial complex;(K)Retail shopping establishment, up to 20,000 gross square feet;(L)Seminary, convent or monastery;(L.1)Social service use;(M)Utilities, as permitted by section 7-1200;(N)Accessory uses, as permitted by section 7-100.
* 5-Year Lease Extensions by tenants USPS and iData * Office floors upgraded to Class-A style * Upside with 3rd floor vacancy * An incredibleâand rareâ22 parking spaces * Residential conversion opportunity This unique property in the heart of Alexandriaâs 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. Or convert to a luxury 3-BR, 2-BA single-unit residence, as shown in the offering memorandum attached with the listing. 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.
