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Rehab property to be delivered with plans and permits for 7-unit condo conversion in hot Kennedy Street Corridor.
Marucs & Millichap is pleased to exclusively represent the owner of 1421 H Street NE, a mixed-use building with three stories, renovated in 2020, and located on the H Street Corridor. 1421 H Street NE is a 2,276 square foot mixed-use property that features a first and 2nd floor retail space including a a spacious lounge on the second floor. This building also includes two apartment units comprised of a studio unit, and a one-bedroom unit. The building sits on a .03 acre parcel, and it is zoned NMU-7B/H-A ,mixed-use medium density use). The retail space is currently vacant providing a new owner the opportunity to owner-occupy this portion of the building or lease the space to a retail tenant. The residential units are separately metered and fully leased with market rate tenants. Market rents (retail and residential) for the H Street corridor are increasing every year which allow a new owner the ability to increase cashflow with minimal capital improvements. In addition, the property features two parking spaces in the rear of the property. There is also street parking on H Street and rear access to the Maryland avenue street where there is additional street parking. The H Street corridor has experienced tremendous revitalization over the past several years surrounded by retail, award-winning restaurants, and new commercial real estate development . Transportation can be easily accessed through Union Station and the NoMa-Gallaudet metro stations, metro bus lines on H street and the DC Streetcar rail system which has almost 3,800 riders per weekday. 1421 H Street NE is centrally located between Union Market to the North, "NoMa" to the Northwest, and the historic neighborhood of Capitol Hill to the South. The property is also seven blocks away from Whole Foods, and walking distance to national retailers including Starbucks, CAVA, and Orangetheory Fitness, and numerous recently-delivered Class A , mixed-use buildings. This property offers an investor the opportunity to enter a rapidly transforming submarket at a relatively low-cost basis compared to other neighborhoods in Washington,DC.For any inquiries or information regarding this property, please contact the showing agent only after you and your client have reviewed the Offering Memorandum on our website. Reach out exclusively to the showing agent to schedule a tour or discuss any details.
***See Virtual Tour for photos***"Three-story mixed-use building is zoned to allowed a varied mix of residential,employment, retail, service, and other related uses." Fully leased to a cannabis retailer with one and a half years remaining on theirlease, allowing a new owner to chart the course for success moving forward." Strong 2-mile demographics with over 167,900 residents, an average householdincome above $133,200 annually, and total consumer spending above $2.6B." Nearby retailers include Aldi, Chick-fil-A, CVS, Safeway, and Starbucks, WholeFoods as well as venues like the National Arboretum & Atlas Performing ArtsCenter." Exceptional H Street Corridor location near Hechinger Mall, Union Station,NoMa-Gallaudet U - New York Ave Station, Gallaudet University, & more." Walk ScoreTM of 95 with multiple DC Streetcar and Metrobus locations nearby.Conveniently situated with easy access to 295 or Rte. 50. Additionally, it iswithin a 15-minute walk to Gallaudet University.
Marcus & Millichap is pleased to exclusively represent the owner of 615 Kennedy Street NW, DC 20011, in the Brightwood subdivision. This new construction build is situated on a .05-acre lot, amassing six stories with a rooftop deck.Included in the 8,276 Square Feet of rentable space are six bi-level units and two penthouse each with a separate rooftop deck. Each of the eight units are delivered with condo level finishes including granite countertops, stainless steel appliances, custom granite tops, and much more. The property also comes with two parking spaces for future tenants.A buyer can achieve a NOI of approximately $219,283 in year 1, which operates at a 6.64% Cap Rate based off the sales price. This investment also yields a 15.76% 5- year levered return, which is highly attractive in today's market. Future appreciation based off of the corridor's revitalization should also be considered when analyzing this investment.Since 2000, the median household income in the area has increased by 97.4%. The average household income in 2022 for this corridor is $145,000, approximately 50% higher than the U.S. average. With dozens of development projects set to be completed over the next few years, Brightwood is set to become a retail hot bed, with new commercial real estate being developed on Kennedy Street, and at the Fort Totten metro (five blocks away).The Kennedy Street corridor is a designated "Great Street" corridor that is bolstered by new residential and commercial development. In addition to its recent residential building boom, Kennedy Street offers a mix of independent retailers, restaurants, and specialty grocers. This site is located two miles away from "The Park at Walter Reed, a 66-acre redevelopment of the former Walter Reed Army Medical Center. This Park will include 3.1 million square feet of mixed-use development.
Please don't show up without an appointment at the store! You won't be able to see the property.Discover the perfect business investment at Sicilian Pizza, a flourishing pizzeria located at 1000-1004 NE Florida Ave NE. Boasting a prime spot on a busy street, this establishment is a testament to success, offering a lucrative opportunity for aspiring entrepreneurs and seasoned business owners alike.Situated in a high-traffic area, Sicilian Pizza enjoys consistent footfall and a loyal customer base drawn to its delicious offerings and welcoming atmosphere. This sought-after location ensures continued success and growth for the discerning buyer.Noteworthy is the inclusive rent structure, covering property taxes and offering a financial advantage to potential buyers. Moreover, the property underwent a comprehensive renovation just 5 years ago, ensuring an inviting setting for patrons to enjoy!Seize the chance to own a thriving business in a coveted locale. Sicilian Pizza presents an enticing proposition for those looking to step into the thriving food industry or expand their portfolio. Don't miss out on this exceptional opportunity!
Discover unparalleled opportunity in the heart of the resurging Atlas District with this captivating three-level retail building. Boasting 5,877 square feet of space, this prime corner property offers endless possibilities for your business endeavors.Imagine the potential of a large outdoor patio at street level, inviting guests to indulge in the vibrant atmosphere of one of DC's liveliest neighborhoods. With exceptional visibility, this location presents a remarkable branding opportunity that ensures your business stands out amidst the bustling cityscape.Step onto the rooftop deck and behold the breathtaking views, setting the stage for unforgettable experiences. This amazing rooftop terrace offers a space where patrons can savor the moment and create lasting memories.The property features modern amenities and upgrades, including:Electricity: Upgraded with a total of 800 AMPS for enhanced efficiency.HVAC: Five brand-new HVAC units with separate zones ensure optimal comfort for patrons.Fire Safety: Benefit from peace of mind with a new sprinkler system installed.Restrooms: Enjoy the convenience of three brand-new restrooms, including one ADA compliant.Hot Water: Two new heaters provide reliable hot water supply.Roof: A new roof with framing at 12-inch centers, updated membrane, and decking ensures durability and longevity.Stairs: Access from the lower level to the rooftop is seamless with a new internal metal staircase.Kitchen Infrastructure: The finished lower level is equipped with kitchen infrastructure, including cutouts for a vent shaft to the roof, catering to a variety of culinary ventures.Don't miss this rare opportunity to secure your place in one of DC's most dynamic neighborhoods. Elevate your business to new heights in a space designed for success. Schedule a viewing today and unlock the potential of this extraordinary property.
Exciting opportunity on H St! A fully equipped restaurant in the heart of the thriving H St Corridor. With 2 levels of seating, a full bar, and a well-equipped kitchen, including fryers, grills, and walk-in refrigerators, as well as under counter refrigeration. This is a turnkey operation. Whether you're looking to purchase, lease, or combine with 1222 H for a bigger project, this property offers tremendous potential. Take advantage of the recently approved bonus FAR by BZA and unlock even more value. #HStCorridor #RestaurantForSale #RealEstateOpportunity
Don't miss this unique opportunity to purchase this vacant H St asset that is a blank canvass to do with as you see fit. All mechanicals seem to be in good working order but need to be verified. This is offered in combination with 1224 H ST NE , directly next door as an assemblage that would make for a nice project on H St. Call agent for details
Opportunity to Own a Commercial Fee Simple Property in unique Union Market District, a vibrant destination celebrating great food, living spaces, special events. Close to Noma BID, Gallaudet University., Eckington, Walking distance to Noma Gallaudet Metro Station, Alcohol Tobacco Firearms HQ, Peoples Building. Union Market Historic Food Hall. Join Pastis, Palette 22, St. Anselm, O-ku, La Cosecha, Maman, Blue Bottle, Trader Joe's, Stellina Pizza and many other notable names, Or Live at the many new apartment projects that are offering luxurious amenities. This 6060sf over 2 Levels, Shell Condition, build out to your own specifications. Great location! Many possible uses allowed. Tours by appointment only.
30-unit apartment building under construction in Petworth on hot Kennedy Street. Site work is in progress with projected delivery in Spring of 2024. Plans are for a high-end design with modern finishes, ideal for condo resale, or can be a long-term hold as apartment residences.
LOCATION! LOCATION! LOCATION! 1 BLOCK UP FROM THE ATLAS DISTRCIT/H ST CORRIDOR AND ALL THAT IS POPPING UP IN THAT AREA!THIS IS A FUNCTIONING CHURCH WITH A SEATING CAPACITY OF APPROXIMATELY 200+, A BAPTISMAL POOL, OPEN BALCONY, SEVERAL OFFICES, LADY'S AND MEN'S RESTROOMS, AND AN AV SUPPORT ROOM.ALSO, INCLUDED IN THIS SALE IS THE ADJACENT FREE-STANDING BLDG. WITH AN EXECUTIVE OFFICE, OPEN 2ND FLOOR, RECEPTION ROOM KITCHEN ARE AND MORE. BRING ALL REASONABLE OFFERS, AND PROOF OF FINANCIAL ABILITY TO CONSUMMATE!
We are pleased to exclusively offer for sale 818 H Street NE Washington, D.C. 20002, a mixed-use property located along the burgeoning H Street corridor. Delivered vacant, the subject property is well suited for both an investor or user due to its convenient combination of second generation restaurant space on the street level and two-story, four-bedroom/one-and-one-half-bathroom residential unit above. There is a separate entrance to the upper levels which have historically been operated as a single residential unit but could potentially be renovated into two or more units in order to maximize rental revenue.- Well Suited for a Full- or Partial-User or an Investor with a Tenant in Tow- Vacant Mixed-Use Property Featuring 2nd Generation Restaurant Space- 2-Level 4-Bedroom Unit Could be Reconfigured to Create 2 or More Units- New TPO Membrane Roof Installed in 2022 | 20-Year Transferable Warranty- Directly Across from the Avec on H, a 419-Unit Project with 44,000 SF of Retail Delivered in 2020- Centrally Located Along the H Street Corridor, a Major Commercial Thoroughfare
Investor Alert! A prime opportunity awaits with this 6-unit building now available for sale. Each unit features one bedroom, one bath, separate utilities, and private balconies. Located 2 blocks off Georgia Ave in the flourishing Petworth/Park View neighborhood, this property presents versatile options for savvy investors. Whether as a strategic buy-and-hold investment with the potential for significant unit upgrades or a lucrative conversion into luxury condos, the possibilities are endless. Noteworthy features include a vacant rear lot, offering further expansion potential. The property will be sold "as-is" and delivered vacant, with six of the units currently owner-occupied. Additionally, the owners may request a short rent-back period post-closing. Showings are exclusively scheduled for Fridays, between 2:30 PM and 5:00 PM. Don't miss out on this exceptional opportunity to capitalize on the thriving real estate market in the sought-after Park View neighborhood.
Commercial Storefront on busy walk around Upshur Street, property boasts display windows on 9th street and Upshur (corner property) currently houses Florist Shop.
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Located in the lively Petworth neighborhood of Washington, D.C., 4811 Georgia Ave is a developer's dream, poised at the drywall-ready stage with the bulk of construction already in the rearview. This project boasts 10 units, including two exquisite, two-level penthouses with panoramic views, perfectly positioned for upscale living in an area known for its growth and vitality.
Discover the endless possibilities with this exceptional C2A zoned property! Currently operating as a gift shop on the main street level and featuring a 3-4 bedroom 2 full baths apartment on the upper level, this unique opportunity allows you to own your business and live conveniently upstairs. Additional features include a basement for storage and a 3-car private parking pad at the rear. Strategically located in the corner of Georgina Ave and Delafield Place NW, in the vibrant Patworth neighborhood. This property is in the heart of Washing DC. Don't miss out on the incredible change to thrive in one of the city's most dynamic areas!
PRICE ADJUSTMENT! Established, modern 2-level multi-use building located in a prime business location with booming development all around. Prominently situated within walking distance to the all-new multi-phase development; The Parks at Historic Walter Reed with a new Whole Foods Market. The Parks is a major, one billion dollar project in development. Strong potential for increased foot traffic and values as part of the vibrant and progressing Brightwood neighborhood. This turn-key property is subject to one residential lease ending 2/29/2024. The retail space is vacant. The updated storefront unit is built out into a hair salon that originally opened in 1999 and remodeled in 2012. It features a large open space with LVP flooring, modern lighting, 6 stylist stations, an esthetician station, 3 shampoo stations and multiple hair drying stations, a half bath, and a staff lounge/storage area. The upper level offers a fully remodeled open floor plan unit with 2 bedrooms, Den, 1 full bath, an attractive open kitchen with stainless steel appliances (two ovens), granite countertops, large center island with granite, hardwood floors, stacked washer and dryer, trendy metal stair railing - urban charm! The exterior offers a large private deck, 1 parking space in the rear of the building and ample street parking. There is also a basement area where the utilities are housed. Units are separately metered. This offering is a rare opportunity to acquire a self-sufficient real estate investment with strong property management. Are you a seasoned stylist or barber and ready to step into your destiny of salon ownership - do not miss this fantastic opportunity! Become an owner occupier, live upstairs and work while running your salon or other business downstairs. Property being sold AS-IS. Weekend showings require 24 hours' notice. All showings by appointment.
Amazing opportunity to own a two-unit residential and commercial property located in the highly sought after Columbia Heights neighborhood. This three (3) level corner property is fully renovated with modern custom and imported finishes, 29 solar panels (2023), large windows that bring in natural lighting from the front & side; property has three (3) full baths (basement, main floor, and upper level); one two (2) bedrooms; one (1) bath unit fully furnished with custom kitchen (black appliances: refrigerator, dish washer, microwave and dual sink); in-unit stackable washer & dryer; seating for two (2) or more at the kitchen countertop; large custom plank crown molding; juliet balcony; and central air throughout. Located in an established neighborhood, Ward 1, short distance to the community garden; high walkability/biking scores; convenient access to public transportation; numerous amenities: restaurants; entertainment; universities (Catholic and Howard Universities); hospitals (Children's National Hospital, MedStar Washington Hospital Center, Veterans Affairs (VA) Medical Center); and suburban feel in the heart of the city. This property is home to one of DC's fastest growing grocery stores: Aurora Market, a locally owned and operated grocery store that specializes in tailoring all products and services based upon the needs and recommendations of the community. Immediate income for the savvy investor with multi-year lease in-place with option years. Exterior: Well-lit building with lighting and security cameras; outside front seating area with approved Public Space Permit; automated teller machine (ATM) affixed to the exterior (Irving St) and separate entrance to the residential unit on the upper level.
Prime Location! Rare Gem! Bright and Spacious New Development Opportunity in desirable Shepherd Park. 10 Unit Apartment Building Offered at $5,495,000 at a 6.44% Cap Rate in Washington, DC.Own your future residence with modern touches at a special launching price. Great investment value! This stylish Green Building is situated just beside the beautiful new 66-acre development at Walter Reed, with retail, entertainment, hotel, office, health care, schools, and 22 acres of parks and plazas. Situated in a vibrant part of the city with the comfort of modern living! MESKEN 1103 offers great living spaces surrounded by shops, restaurants, parks, and accessible transportation. Each of the ten condos has been designed to be functional and make the best use of the space. Experience urban convenience with a neighborhood feels in your new place. This is your chance to reserve your new home! Pics for the Model Home! Units starting at 399K.
Triple Net Investment Group is pleased to offer fully equipped turn key restaurant for sale on 3813-15 Georgia Ave NW Washington, DC. This fully operational restaurant has a total of 6800 sq ft, with the first floor being 3,700 sq ft, 2nd floor: 3100 sq ft and about 3700 sq ft in basement. The restaurant features a walk-in cooler, kitchen with all appliances, a large outdoor patio with a 150 people occupancy limit. 3813 Georgia Ave is steps from the Petworth station serving both the Green. This location is close to many tenants such as Safeway, Dunkin Donuts, CVS, Wendy's, Honeymoon Chicken, Yes! Organic Market, Bank Of America, and other local businesses.HIGHLIGHTS- Fully Renovated Second Generation Restaurant in 2022. -Approximately 6800 sq | 3,700 sq ft on first floor appx-Fully operational restaurant with four bars, kitchen with 10 feet hood and all kitchen appliances and large outdoor patio for 30 seating's and total 150 people occupancy-Prime Location at a heavily trafficked retail corridor on Georgia Ave in Northwest, DC, and surrounded by subways station and residential condos -Zoning NC-8 with FAR of 4.8 allows for construction of 17,899 mixed-use-Neighboring national retailers, banks, supermarkets, and bakeries -One blocks from Petworth Georgia Ave Station-70+ years operating history at this site and on National Register of Historic Places in DC (Billy Simpson House of Seafood and Steak)
Price now includes 1 parking space! Talk about a profit margin! This shovel-ready MU-4 property includes all the architectural, structural, & MEP PLANS with PERMITS to build a 6 unit, 4,501 sq ft Condominium Building. According to the Plans (available in Docs), the Area Schedule (FAR) is 3,076 sq ft and the Area Schedule (GBA) is 4,529 sq ft. ------------------ Unit 1 is designed as a 712 sq ft two bedroom, two bathroom condo. Unit 2 is a 469 sq ft one bedroom, one bathroom condo. Unit 3 is a 574 sq ft one bedroom, one bathroom ground floor commercial space. Unit 4 is a 463 sq ft one bedroom, one bathroom. Unit 5 is a 689 sq ft two bedroom, one bathroom condo. Unit 6 is a 1,264 sq ft three bedroom, 2 bathroom condo. There is a private roof deck on the 2nd and 3rd floors, a balcony on the 4th floor, and a private roof deck at the penthouse level. Consider working with riversmart homes to make the green rooftop and it may be subsidized. ------------------ Directly to the South, 7700 Georgia Ave NW is a newly completed 33-unit condominium building. All 33 units combined are selling for $16,600,800 with an average unit price of $503,055. ------------------ Another great example of new construction resale values is the recently built Brooks Condominiums located at 6803 Cameron Dr NW. These 2bd/2ba condos sold from $639,900 to $943,200. The average closed sales price was $760,114 and the average sold price/sqft was $724.14. ------------------ Multiply the average price/sqft ($724.14) by the sellable sq ft of this development (4,171 sq ft) and the ARV is $3,020,388. This indicates a huge spread from the asking price! ------------------ The project is centrally located in the coveted Shepherd Park neighborhood of DC across the street from the Tomoka Coffee House on Georgia Ave NW. Thanks to its sought after location, future residents will enjoy all that Downtown Silver Spring and Takoma Park have to offer: shops, restaurants, gyms, parks, Farmer's market, grocery stores, The Commas Food Hall, AFI Theater, The Fillmore, and all the new development at The Parks at Historic Walter Reed (a one billion dollar project that will feature a combination of over three million square feet of dining, retail, office space, residential, and over 20 acres of open space). ------------------ Everyone loves fresh air. Future owner's can enjoy time outdoors jogging, biking, horseback riding, and various playgrounds and picnic sites at nearby Rock Creek Park, Juniper Trailhead, and Jesup Blair Park. ------------------ Located on several main arteries, with quick access to downtown DC, just a 15 minute walk to the Silver Spring Metro Station (Red Line and future Purple Line), and less than 2.5 miles from the 495 beltway; this neighborhood provides easy accessibility for any commuter. With a walkscore of 90 (walker's paradise), most errands can be accomplished on foot. And as The Parks at Historic Walter Reed are completed, that score is only going to go up. ------------------ Dining in Silver Spring is extremely varied, including American, African, Burmese, Ethiopian, Moroccan, Italian, Mexican, Salvadoran, Jamaican, Vietnamese, Lebanese, Thai, Persian, Chinese, Indian, Greek, and fusion restaurants, as well as many national and regional chains. ------------------- Disclaimer: All information is deemed reliable but not guaranteed; buyer to do their own due diligence.
