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20231988
20231987

1924 Benning Rd NE, Washington, DC 20002

BW
MD MD 649631
Greysteel Company LLC Washington, D.C.
Greysteel Company LLC
DO
VA 0225272193
Greysteel Company LLC Washington, D.C.
Listed by Greysteel Company LLC Washington, D.C., Greysteel Company LLC
$950,000
613 days on market
Updated 25 days ago
Opportunity zone

1924 Benning Road NE

Details
APN 4506-0000-0809
Property Type Mixed Use, Multifamily (+2)
Sub Type Creative Office, Storefront
Square Footage 2,343
Net Rentable (SqFt) 2,343
Units 3
Cap Rate 8.77%
NOI $87,716
Occupancy 33.33%
Tenancy Multi
Price per SqFt $405
Year Built 1925
Year Renovated 2023
Buildings 1
Stories 3
Lot Size (SqFt) 1,371
Zoning MU-5A
Parking Spaces 2 spaces
Parking Per SqFt 0.85
Investment Type Value Add
Ownership Fee Simple

Mixed Use | 8.77% CAP | 2,343 SqFt

Marketing description

Investment highlights

Street-Level Office Space: Recently renovated, perfect for owner-users looking to occupy the ground floor while benefiting from residential leasing income.

Two Residential Units Above: Generate rental revenue with the opportunity for future upgrades or lease enhancements.

Flexible Sale/Leaseback Option: Current owner is open to a sale/leaseback of the office space, allowing investors to start collecting income from day one while repositioning the residential units.

Significant Future Development Potential: Favorable mixed-use zoning with substantial unused density for expansion or redevelopment.

Highly Visible Location: Located just off the high-traffic 5-way intersection of H Street, Bladensburg Rd, Benning Rd, and Maryland Ave, benefitting from strong foot traffic and proximity to Hechinger Mall and the DC Streetcar.

Listing Contacts

BW
MD MD 649631
Greysteel Company LLC Washington, D.C.
Greysteel Company LLC
DO
VA 0225272193
Greysteel Company LLC Washington, D.C.
Listed by Greysteel Company LLC Washington, D.C., Greysteel Company LLC

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$87,716.00
$7,309.67/mo

Valuation Metrics

0
DSCR
9.23%
Cap Rate
9.23%
ROI

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Additional Information

Name
Ari Firoozabadi
License
BR98371298
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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