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Key Details
Sold Price $1,815,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 3,312 sqft
Price per Sqft $548
Subdivision Old Town North
MLS Listing ID VAAX2000392
Sold Date 07/08/22
HOA Y/N N
Originating Board BRIGHT
Year Built 1935
Annual Tax Amount $10,056
Tax Year 2021
Lot Size 1,546 Sqft
Acres 0.04
Property Description
Important commercial opportunity for a restaurant operator or retail business owner to become part of a growing area known as Old Town North. Located just minutes from Washington, D.C., Alexandria is situated along the Potomac River, adjacent to Arlington with quick and easy access to the Pentagon, Crystal City, and Reagan National Airport (DCA). While Old Town is popular with tourists and known for its art galleries, antique shops, and red-brick sidewalks, northern Alexandria is described as a “suddenly bustling section of the city” by the Washington Business Journal and offers a variety of opportunities for residents to live, work, dine, and shop locally.
This 3,312 SF property offered for sale has two floors which allows for flexibility. The entire space can be occupied by a single user or two different businesses can operate, one on each floor. The ground level is currently leased by the trendy Haute Dogs restaurant with a lease expiring in March 2022. The upper floor was recently occupied by a hair salon. This building is at one end of a block also occupied by T.J. Stone’s Grill & Tap Room and Hank and Mitzi’s Italian Kitchen. It sits next to a PNC Bank and across the street from the new rustic Oak Steakhouse, Wooboi Hot Chicken, St. Elmo’s Coffee Pub, and several other dining options like sushi and Thai restaurants. The Sheraton Suites Old Town is within a block and it’s a short walk to reach the Rivergate City Park and Oronoco Bay Park along the Potomac River. Just one block away, a developer has proposed a five-story, 73-unit building at the corner of North Columbus and Madison streets. The nearby Old Towne Hotel is being renovated into a new, five-story hotel, while the small Chinese restaurant next to it is slated to become a four-story, 13-unit mixed-use building.
A recent article notes that the area is “one of the most underdeveloped locations within the historic district” of Old Town Alexandria, hinting at the demand for future growth. Property values and business revenue will continue to increase in this area overall.
Location
State VA
County Alexandria City
Zoning CDX
Interior
Hot Water Natural Gas
Heating Hot Water
Cooling Central A/C
Heat Source Natural Gas
Exterior
Utilities Available Electric Available, Sewer Available, Water Available
Waterfront N
Water Access N
View Street
Street Surface Paved
Accessibility None
Road Frontage City/County
Parking Type On Street
Garage N
Building
Lot Description Level, Premium, Road Frontage
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Alexandria City Public Schools
Others
Tax ID 054.04-03-03
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Edward A. Martin • Keller Williams Realty/Lee Beaver & Assoc.
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