Transwestern, as exclusive agent, is pleased to offer a rare opportunity to acquire 1021 Prince Street (the “Property”), an extremely well-located building with flexible zoning that consists of a total of approximately 27,622 SF located in Old Town Alexandria, Virginia. This asset offers significant value for investors focused on office-to-residential conversions, commercial investment groups, as well as end users that would look to acquire the building for their own business operations. Constructed in 1983, 1021 Prince Street is a 3-story building totaling about 27,622 SF. While the property is located within the Old and Historic Alexandria District, it is not subject to the City of Alexandria Board of Architectural Review (BAR) for exterior renovations. The building includes several unique features including a below grade structured parking garage with 24 spaces, storage, and elevator service with frontage on both South Henry Street and Prince Street. The property is currently leased to Virginia Tech but will convey as vacant at the time of sale. This Property is well positioned for a potential residential conversion to for sale condominiums or rental apartments which is permitted under the current Zoning Classification. The physical layout of the building, on-site parking, premier location, combined with the strength of the condominium sales market in Old Town Alexandria with recent condominium sales comps exceeding $900 per SF, offers a unique exit opportunity with significant return on investment. There is also an opportunity to convert the building to rental apartments which would command rents in the $4.00+ per SF range.