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Listed by SERIF SOYDAN • EXP Realty, LLC
$ 2,500,000
Est. payment | /mo
3,215 SqFt
$ 2,500,000
Est. payment | /mo
3,215 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,215 sqft
Price per Sqft $777
MLS Listing ID DCDC2214502
Year Built 1947
Annual Tax Amount $24,885
Tax Year 2024
Lot Size 3,910 Sqft
Acres 0.09
Property Sub-Type Retail
Source BRIGHT
Property Description
Prime Investment and Development Opportunity in Washington, DC
Address: 1818-1820 Benning Rd NE, Washington, DC 20002
Lot Size: 0.09 Acres
Building Size: 3,215 Sq. Ft.
Year Built: 1947
Unlock the potential of this exceptional property located in the vibrant and rapidly developing Street, situated within an Opportunity Zone. This unique investment offers both immediate income and significant future development possibilities, making it a standout opportunity for savvy investors.
Property Overview:
1818 Benning Rd NE: Currently leased to a Liquor store occupying approximately 1,955 sq. ft. This tenant provides a stable income stream with an existing lease in place until November 30, 2026, generating an annual rent of $45,799.
1820 Benning Rd NE: Vacant and ready for immediate rental or owner-occupancy, with the potential to earn an additional $45,000 in annual rent. Alternatively, the space could be utilized for personal business operations, making this an ideal candidate for SBA financing.
Development Potential:
The property offers a rare chance to develop a multifamily mixed-use project, with the potential for 20+ residential units combined with retail space on the ground floor.
Generate income while working through the permit process, with an opportunity to maximize returns in one of DC's most desirable areas.
Location Highlights:
Proximity to H Street Corridor: Just couple blocks away from the dynamic H Street corridor, known for its vibrant atmosphere, popular conveniences like Whole Foods, and easy access to Union Station via the H Street streetcar.
Excellent Connectivity: One block from multiple Metrobus and DC Streetcar stops, with convenient access to major routes like 295 & Route 50.
Nearby Development: Surrounded by nearly 4,000 multifamily units and over 103,600 square feet of retail space, either proposed or under construction within a 1-mile radius.
Strong Demographics: Within a 2-mile radius, there are over 167,900 residents with an average household income exceeding $133,200 annually, and total consumer spending above $2.6 billion.
Retail and Cultural Amenities: Close to prominent retailers such as Aldi, Chick-fil-A, CVS, Safeway, and Starbucks, as well as cultural venues like the National Arboretum and Atlas Performing Arts Center.
Investment Advantages:
SBA Financing Potential: The vacant unit offers an opportunity for owner-occupancy, making the property eligible for SBA financing.
Opportunity Zone Benefits: Situated within an Opportunity Zone, providing potential tax benefits—consult your CPA for details.
High Visibility: Located on a highly trafficked corridor with nearly 40,000 vehicles passing by daily.
Seize this rare opportunity to invest in one of DC's hottest markets. Whether you're looking to develop a multifamily project or capitalize on existing rental income, this property offers endless possibilities.
Investment Highlights
Current Income Stream
Immediate Rental Potential
High Visibility
Mixed-Use Development Opportunity:
Income Generation During Development:
Prime Location
Excellent Transportation Links
Surrounding Development
Strong Local Demographics
Retail and Cultural Proximity
SBA Financing Eligibility
Opportunity Zone Benefits
Address: 1818-1820 Benning Rd NE, Washington, DC 20002
Lot Size: 0.09 Acres
Building Size: 3,215 Sq. Ft.
Year Built: 1947
Unlock the potential of this exceptional property located in the vibrant and rapidly developing Street, situated within an Opportunity Zone. This unique investment offers both immediate income and significant future development possibilities, making it a standout opportunity for savvy investors.
Property Overview:
1818 Benning Rd NE: Currently leased to a Liquor store occupying approximately 1,955 sq. ft. This tenant provides a stable income stream with an existing lease in place until November 30, 2026, generating an annual rent of $45,799.
1820 Benning Rd NE: Vacant and ready for immediate rental or owner-occupancy, with the potential to earn an additional $45,000 in annual rent. Alternatively, the space could be utilized for personal business operations, making this an ideal candidate for SBA financing.
Development Potential:
The property offers a rare chance to develop a multifamily mixed-use project, with the potential for 20+ residential units combined with retail space on the ground floor.
Generate income while working through the permit process, with an opportunity to maximize returns in one of DC's most desirable areas.
Location Highlights:
Proximity to H Street Corridor: Just couple blocks away from the dynamic H Street corridor, known for its vibrant atmosphere, popular conveniences like Whole Foods, and easy access to Union Station via the H Street streetcar.
Excellent Connectivity: One block from multiple Metrobus and DC Streetcar stops, with convenient access to major routes like 295 & Route 50.
Nearby Development: Surrounded by nearly 4,000 multifamily units and over 103,600 square feet of retail space, either proposed or under construction within a 1-mile radius.
Strong Demographics: Within a 2-mile radius, there are over 167,900 residents with an average household income exceeding $133,200 annually, and total consumer spending above $2.6 billion.
Retail and Cultural Amenities: Close to prominent retailers such as Aldi, Chick-fil-A, CVS, Safeway, and Starbucks, as well as cultural venues like the National Arboretum and Atlas Performing Arts Center.
Investment Advantages:
SBA Financing Potential: The vacant unit offers an opportunity for owner-occupancy, making the property eligible for SBA financing.
Opportunity Zone Benefits: Situated within an Opportunity Zone, providing potential tax benefits—consult your CPA for details.
High Visibility: Located on a highly trafficked corridor with nearly 40,000 vehicles passing by daily.
Seize this rare opportunity to invest in one of DC's hottest markets. Whether you're looking to develop a multifamily project or capitalize on existing rental income, this property offers endless possibilities.
Investment Highlights
Current Income Stream
Immediate Rental Potential
High Visibility
Mixed-Use Development Opportunity:
Income Generation During Development:
Prime Location
Excellent Transportation Links
Surrounding Development
Strong Local Demographics
Retail and Cultural Proximity
SBA Financing Eligibility
Opportunity Zone Benefits
Location
State DC
County Washington
Zoning 2-COMMERCIAL
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Water Access N
Accessibility Level Entry - Main
Garage N
Building
Sewer Public Septic
Water Public
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 4507//0935
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Rhonda Campbell
REALTOR® | Lic# 0225203339