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Prime Commercial Redevelopment Opportunity in Falls Church, VA

Rare chance to own a single-tenant commercial building with redevelopment potential in Falls Church, an area slated for increased walkability and density. Property currently occupied by Nationwide Insurance on NNN lease. Redevelopment plan includes adding a second floor for multi-tenant usage. Take advantage of this investment opportunity now!

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Prime Commercial Redevelopment Opportunity in Falls Church, VA

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  1. 410 S. Washington Reposition Play Don Kettering

  2. 410 S. Washington St. Arial

  3. Location Relative to DMV

  4. Current State of Asset • 1 story commercial building, single tenant space • Located in Falls Church new Core Commercial Area where city plans to increase walkability and density • Physical condition is poor and building has not been maintained • Frontage on Washington St. & 30 parking spaces in back • Nationwide Insurance occupies and is on NNN lease for $35/ PSF • On the market for a list price of $1,960,000

  5. Redevelopment Plan • Acquire asset for $1,866,666 – $35 / SF at a 7.5% CAP Rate • Build 2nd floor, utilize the existing building and new steel framing to build above – CAX cost $1MM, 4 month duration • New 2 tenant space with street level retail and office/ retail on second floor • Cap X will command $40/SF ground floor and $38/SF 2nd Floor

  6. Street View of 410 S. Washington St.

  7. Street View of 410 S. Washington St.

  8. Street View of 410 S. Washington St.

  9. Street View of 410 S. Washington St.

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