Northeast DC multi-family property for sale - excellent opportunity for a value-add project in a submarket emerging as a mid-priced rent with close access to downtown Washington DC. The apartment building is being leased by a single corporation (no TOPA rights), with 3.5 years remaining on the existing lease, paying $20,500 per month, absolute net lease with annual 3% increases. Area is quickly developing with some of Washington DC's largest development projects underway nearby. The building is in good condition, located in an ideal setting surrounded by recently rehabbed apartment buildings. The lot contains 8 parking spots, with extremely easy parking on-street parking surrounding. Buyer can retain existing corporate tenant or convert back to multi-family (its original use) and add density. A private school, corporate headquarters or training center would be ideal uses for the building.
Just blocks from Ivy City, and nearby, the National Arboretum, the H Street retail corridor, and the new development on Bladensburg Road make this site an attractive site for corporate or residential tenants. NDA required for location and property details.
Washington DC Commercial real estate for sale
Single tenant, no TOPA
Located next to one of DC's largest parks
Surrounded by renovated multi-family properties
Maryland Ave., NE
Maryland Avenue, NE, Washington, DC 20002 | Apartment building for sale
City Grid Real Estate is a full service commercial real estate brokerage and property marketing firm, specializing in the sale and leasing of commercial real estate transactions in the District of Columbia, Maryland and Virginia.