507 Wythe Street | Office Condo for Sale in Alexandria, VA

Investment Overview

Own your address in Old Town North. This efficient 1,860 SF condo at the Riverport Condominium sits two blocks east of Washington Street, in a neighborhood that is changing fast. Two covered, reserved parking spaces are right outside the rear door. Harris Teeter, Trader Joe’s, local favorite St. Elmo’s Coffee Pub, the Sheraton, Hotel Sáfire, West Elm, and Oak Steakhouse are all within walking distance. The shopping and dining of lower King Street are close by, and National Airport, the 14th Street Bridge, and Capitol Hill are just a few stoplights away. Old Town North has grown into a neighborhood of its own, and the growth isn’t slowing down. More than 1,000 new units are constructed or are planned within blocks of the property: Tide Lock (65 luxury condominiums and 169 apartments), Gables (232 units), and Margot (237 apartments, delivering 2027), with another 327 apartments in the pipeline. Just a block away, The Asaph (12 residential units) and 601 Wythe Street (18 condominiums converted from office) are underway. New residents are arriving in the neighborhood, yet opportunities to own commercial space remain limited.

Investment Highlights

• Office condo includes reception area, 5 offices, conference room, kitchenette, and 2 restrooms (1 ADA) spread over two floors
• Custom built bookshelves, working counter and storage in reception area, upstairs work room, and two offices
• Door in back opens directly to 2 covered, reserved parking spaces which convey
• Full sprinkler system throughout the unit
• Building signage allowed
• Walking distance to Braddock Metro; Dash bus to Braddock Metro and King Street Metro
• Multiple Capital Bikeshare stations as close as one block away
• Local amenities include FedEx/Kinkos, The Italian Place, Sunday in Saigon, Zento Japanese, Trader Joe's, Harris Teeter, Sheraton Suites, US post office, gas stations and banks
• Local fitness opportunities include Sport & Health, Crossfit Oldtown, 532Yoga, FitOne, Rowhouse (indoor rowing studio)
• Three blocks to the Oronoco Bay Park on the Potomac River and the Mount Vernon Bike Trail
• Real Estate taxes (2018) = $6,408
• Condo fee = $364.30/month (includes exterior maintenance, landscaping, parking lot upkeep and roof repairs)