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* Prime Location in Heart of Del Ray * Perfect for User/Investor * Private Parking on E. Howell Ave. Lots * Residential conversion opportunity * This unique property in the heart of Alexandria's vibrant and popular Del Ray neighborhood offers an opportunity for users, investors, and even residential buyers, as well as featuring a strong value-add component. And it's offered at a below-market rate of $267/SF"”vs. sold comps averaging $379/SF. For users, operate your business on the third floor while you benefit from $225,000+ in gross annual income from two existing tenants, USPS and iData, each of which exercised options to extend leases through 12/31/28. USPS has one more 5-year option thereafter. For investors, lease up the third floor either as is for professional office, or medical, legal, government contractor, trade assn. or professional society, or target other uses allowed under CL zoning, such as spa or fitness studio. 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 in rent, based on a recent nearby lease comp. Or, for a residential buyer, convert the 3rd floor to a luxury 3-BR unit. Looking ahead, once 2nd floor lease expires, this floor could also be converted to residential under the Mt. Vernon Overlay plan, for a total of 8 1-BR units (assuming 3rd floor was converted to 4 1-BRs). A big plus to a new owner are the parking spaces on the two RB residential lots on E. Howell Ave. Two recent sold comps had zero off-street parking. Property is also listed under Residential. See MLS# VAAX2030462.
| DAYS ON MARKET | 638 | LAST UPDATED | 7/9/2025 |
|---|---|---|---|
| TRACT | DEL RAY | YEAR BUILT | 1946 |
| COUNTY | ALEXANDRIA CITY | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| School District | ALEXANDRIA CITY PUBLIC SCHOOLS |
|---|
| PRICE HISTORY | |
| Prior to Jul 23, '24 | $4,475,000 |
|---|---|
| Jul 23, '24 - Dec 26, '24 | $3,950,000 |
| Dec 26, '24 - Apr 21, '25 | $3,995,000 |
| Apr 21, '25 - Jul 9, '25 | $3,695,000 |
| Jul 9, '25 - Today | $3,495,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| CONSTRUCTION | Block, Brick |
| HEAT | Natural Gas, Steam |
| LOT | 5227 sq ft |
| PARKING | Parking Lot |
| SEWER | Public Sewer |
| STORIES | 3 |
| SUBDIVISION | DEL RAY |
| TAXES | 27467 |
| VIEW | Yes |
| VIEW DESCRIPTION | City, Panoramic |
| WATER | Public |
| ZONING | The CL (Commercial Low) zone is for small-scale retail and service uses. Residential allowed as auxi |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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