Two Building Investment Portfolio - Grovedale Office Park

Highlights:

• Total Building Area: ±36,341 SF across two buildings
• Combined NOI: $789,135
• Total Lot Size: ±2.78 acres
• Total Units: 12 tenant suites across both buildings
• Occupancy: 96% leased (100% in Building B; 91.83% in Building A)
• Cap Rate: 7.25% based on in-place income
• Tenant Mix: Long-term national and regional tenants in medical, education, and counseling
• Strong Demographics: Average HH income exceeds $130,000 within a 1-mile radius
• Strategic Location: Minutes to Reagan National Airport, I-95, I-495, Route 1, and Springfield Metro
• Zoning: C-2 – Medical/Dental/Professional Office
• Value Stability: Low historical vacancy and sticky tenant uses
• Offered Together or Individually

Description:

Serafin Real Estate proudly presents the opportunity to acquire a two-building medical and professional office portfolio located within the Grovedale Executive Office Park in Alexandria, VA. Totaling 36,341 SF across two Class B buildings, the portfolio is anchored by long-term tenants including New Story Schools, Heartland Dental, Prism Vision Group, and Crescent Counseling. Together, the properties offer a stabilized income stream with a weighted average occupancy of 96% and a combined NOI exceeding $789,000.

Positioned just minutes from I-95, the Capital Beltway, and the Springfield Metro, this portfolio benefits from exceptional accessibility and strong tenant demand within the DC Metro’s Franconia-Springfield submarket. Both assets are zoned C-2, offering future flexibility for medical, professional, and service-based tenancy. With high visibility, ample parking, and a strong demographic profile in Alexandria’s 22310 zip code, this is a rare opportunity for investors to acquire scale in a highly resilient and supply-constrained office market.

Economic Overview: Alexandria, VA 22310
Location & Connectivity: Zip code 22310 is strategically located in Fairfax County, within the Washington, D.C. metropolitan area. This submarket benefits from direct access to major transportation arteries, including I-95, I-495 (Capital Beltway), and Route 1, and is just minutes from Reagan National Airport and Downtown D.C. The nearby Springfield-Franconia Metro Station and VRE rail line further enhance connectivity, making it a desirable location for both commuters and businesses.

Key Economic Drivers:
1. Government & Defense: Being part of the D.C. metro, Alexandria 22310 benefits from proximity to several federal agencies and defense contractors. The presence of Fort Belvoir, the U.S. Patent & Trademark Office, and the Pentagon supports a steady stream of government-related employment and vendor activity.

2. Healthcare & Education: The submarket has seen strong growth in medical and professional services. Providers like Inova Health System, Kaiser Permanente, and numerous private practices support consistent commercial demand for medical office space. Nearby higher education institutions also contribute to workforce stability and demand for services.

3. Retail & Consumer Spending: Alexandria 22310 is adjacent to the Kingstowne Towne Center, Springfield Town Center, and other retail corridors that drive local spending. The area's high median household income (approx. $130,000+) and educated population contribute to robust consumer demand, benefiting surrounding businesses.

Demographics & Workforce:
Median Household Income: ~$130,000

Unemployment Rate: Below national average, historically around 2.5–3.5%

Educational Attainment: Over 60% hold a bachelor's degree or higher

Population: Affluent, professional, and diverse—ideal for service-based industries and stable tenancy.

Commercial Real Estate Fundamentals:
Office Market: Submarket maintains strong occupancy, especially in low-rise medical and professional buildings. Cap rates typically range from 6.5%–7.5%, depending on tenant quality and term.

Industrial & Flex Demand: Limited supply and zoning constraints make this sector competitive and desirable for last-mile logistics and service businesses.

Multifamily Growth: Continued demand for rental housing supports long-term mixed-use and infill development opportunities.

Economic Outlook:
Alexandria 22310 continues to benefit from Northern Virginia's diversified economy, driven by tech, defense, health, and education. With stable demographics, high incomes, and strategic location, the area is positioned for continued economic resilience and long-term real estate appreciation.

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