1 / 3

907 King Street

907 King Street. Alexandria, Virginia. Market Characteristics. Basic Facts. Average Office Rent: $30.83/SF FS Office Vacancy: 17% Occupied. Average Retail Rent: $37.50/SF NNN Retail Vacancy: 3.4%. Property Address: 907 King Street, Alexandria, Virginia 22314

tryna
Download Presentation

907 King Street

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 907 King Street Alexandria, Virginia

  2. Market Characteristics Basic Facts • Average Office Rent: $30.83/SF FS • Office Vacancy: 17% Occupied • Average Retail Rent: $37.50/SF NNN • Retail Vacancy: 3.4% • Property Address: 907 King Street, Alexandria, Virginia 22314 • Property Type: 3-story walk-up office with ground floor retail • Square Footage: 7,400 SF • Year Built: 1900 • Market: Old Town Alexandria • List Price: $3,200,000 • Sale Price: $900,000 (1999) • Tax Assessment: $2,179,616 • Zoning: General Commercial • Parking: 2 spaces in rear • Walk Score: 98, Walker’s Paradise

  3. Value Add Opportunities • Roof Repair: • The property is in need of a new roof, there is deferred maintenance on the current roof and it is nearing the end of it’s useful life. • Office Space Renovation: • The kitchenettes in the office space are in poor condition. New cabinets, countertops, finishings, and refrigerators will be installed on each floor. • The carpet on the second and third floor are in below average condition, and will be replaced. • The interior walls will be repainted to cover up ware from previous tenants. • Lease Up: • The retail space has a lease in-place with 3 years remaining. The current rent is in-line with market rents. The kitchen and bar equipment will remain in the space if the current tenant does not re-new at the end of their term. • The renovations to the office space are to expected shorten the lease-up period and should demand average to above-average market rents as the property is in a highly desired location along King Street

More Related