410 S. Washington Reposition Play

Don Kettering

410 S. Washington St. Arial

Location Relative to DMV

Current State of Asset

1 story commercial building, single tenant spaceLocated in Falls Church new Core Commercial Area where city plans to increase walkability and densityPhysical condition is poor and building has not been maintainedFrontage on Washington St. & 30 parking spaces in backNationwide Insurance occupies and is on NNN lease for $35/ PSFOn the market for a list price of $1,960,000

Redevelopment Plan

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

Street View of 410 S. Washington St.

Street View of 410 S. Washington St.

Street View of 410 S. Washington St.

Street View of 410 S. Washington St.