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listing
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CommercialPending
$7,500,000
601-607 S Washington Street
Alexandria, VA 22314
Listed by: Yeonas & Shafran Real Estate, LLC, 4014414311
MLS: BRIGHT_MAIN
Est. Mortgage
$38,814/mo

SALE-LEASEBACK OPPORTUNITY for two fully 2021 renovated buildings located on the SW corner of S. Washington and Gibbon Streets in Old Town Alexandria (601 & 607 S. Washington Street). These beautifully restored buildings occupy the entire corner and will be sold with a NNN lease in place for the current owner - The Linder Academy. Price: $7,500,000 Sale-leaseback Cap rate: 6.5% Asking Rent on leaseback: $41.76/SQFT (i.e. 40,650/month) with 2% annual escalation plus pass through expenses paid by tenant to include maintenance, utilities, property tax and insurance. A true NNN lease Term: Initial 10-year lease plus 10-year and 5-year lease extension options (with preference for longer term) Two extraordinary buildings totaling 11,680 SQ FT on the corner of S. Washington Street & Gibbon Street in Old Town Alexandria, VA

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This data is up-to-date as of 10/05/2022 08:15 PM. Listing provided by Omar F. Younes of Yeonas & Shafran Real Estate, LLC.
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