2406, 2408, 2410 18TH STREET NW

WASHINGTON, DC, 20009

$6,500,000

$443 per ft²
$6,500,000
$443 per ft²
Active
Active
 - For Sale
carpenters-square
14,641 ft²
property_type
Commercial
calendar
Built 1900
FOR SALE – On Behalf of the Chapter 11 Bankruptcy Trustee - Excellent investment opportunity to purchase three adjacent three-story, mixed-use buildings in Adams Morgan! This outstanding location fronts directly to 18th Street among a wide variety of restaurants, bars, and retail shops! The property consists of three fully leased retail spaces at street level and six residential apartments on the second and third floors. The retail spaces offer window frontage to 18th Street and range between 1,900 and 2,100 square feet. The residential unit mix is comprised of three 2-bedroom units (average 900 sq ft each) and three 3-bedroom units (average 1,050 sq ft each). All three buildings are offered for sale together as a single portfolio and not individually. In total, the buildings contain 14,614 square feet according to the tax records, with 11,920 square feet of usable building area on a 4,113 sq ft parcel. While four of the residential units are occupied, the two vacant residential units are nearly “rent ready”. The scheduled commercial rent exceeds $22,700/month plus expenses and the scheduled residential rent exceeds $19,500/month, bringing the annual potential income to approximately $510,000. The location is within walking distance of Kalorama Park, with the larger Walter Pierce Park and Meridian Hill Parks just a few blocks further away. There’s multifamily across the street and elsewhere in the neighborhood. Neighboring businesses include Capital Blossom Day Spa, The Game sports pub, Rise Bakery, Mediterranean Spot, Amsterdam Falafel, Los Cuates Cantina, Isshin Asian Bistro, and many more. The property is situated in a MU-5A zone. The MU-5 zones are intended for medium-density, compact mixed-use development with an emphasis on residential uses, and to provide facilities for shopping and business needs, housing, and mixed-uses for large segments of the District of Columbia outside of the central core. The land uses in the MU-5A zone permits multifamily, office, retail, and arts uses as of right, and are typically located on arterial streets, in uptown and regional centers, and at rapid transit stops. Adams Morgan is a “Walker’s Paradise” with a Walk Score of 98 and is home to 18th Street, best known for its bars, restaurants, and retailers lining the pedestrian-friendly street. Bordered by Dupont Circle to the south, Mt. Pleasant to the north, and Rock Creek Park to the west, this neighborhood is known for its active scene. Adams Morgan also offers many quiet side streets filled with townhomes, rowhouses, condos, and apartment buildings. Public transportation is plentiful, with two nearby metro stops (Woodley Park-Zoo/Adams Morgan and Dupont Circle stations on the Red Lines) and several WMATA Metrobus lines running through the neighborhood. Elevated demand for apartments, combined with the vacancy rate hitting a historic low, created record-breaking rent growth in 2021. Proximity to work, school, public transportation, and nightlife entertainment have long made Adams Morgan one of the most popular renter submarkets in the District of Columbia. All sales are subject to US Bankruptcy Court approval.
MLS® ID:
DCDC2079816
Updated:
2/2/23
McWilliams Ballard, Inc.
CondoNest

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Ceiling Fan(s), Central A/C
Heating
Baseboard - Hot Water

Exterior/Building Features

Lot Size
4,113 ft² lot
Sewer
Public Sewer

School Information

School District
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High School
JACKSON-REED
Middle/Jr High
OYSTER-ADAMS BILINGUAL SCHOOL
Elementary School
OYSTER-ADAMS BILINGUAL SCHOOL

Other Property Details

Taxes
$61930.00
Tax Frequency
per YEAR
Garage
No
Parking
N
View
Y
County
WASHINGTON
Utilities
Electric Available, Cable TV, Natural Gas Available, Sewer Available, Water Available
Water Source
Public
Pool
No
Total Stories
3
Zoning
MU-5A
Sub Agency Compensation
0
Buyer Agency Compensation
2.5

Courtesy of CENTURY 21 Commercial New Millennium, Stephen Karbelk

Listing Contact:  

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s), the owner of this website, nor Luxury Presence shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

©2023 BRIGHT MLS. All rights reserved.

Data last updated 4:56 PM UTC, 2/2/23

McWilliams Ballard, Inc.
CondoNest
Contact