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22810834
22789434

2123 - 2125 E Street NW, Washington, DC 20037

SF
MD 654758, DC SP983303 (+1)
AMR Commercial LLC
AMR Commercial LLC
Listed by AMR Commercial LLC
Unpriced
427 days on market
Updated 80 days ago

2123 - 2125 E Street NW

Details
Property Type Land, Mixed Use (+2)
Sub Type Bank, Storefront (+1)
Square Footage 16,326
Net Rentable (SqFt) 16,326
Units 2
NOI $60,000
Occupancy 20%
Lease Expiration 08/31/2030
Remaining Term 4.2
Rent Bumps Yes
Lease Options None
Pro-Forma NOI $420,000
Broker Co-Op Yes
Class A
Year Built 1940
Year Renovated 2010
Buildings 1
Stories 2
Lot Size (SqFt) 9,202
Zoning MU-2
Parking Spaces 11 spaces
Parking Per SqFt 0.67
Investment Type Value Add
Ground Lease No
Ownership Fee Simple

Development Site, 70,000 Buildable GSF +/-

Marketing description

AMR Commercial, LLC. is the exclusive representative in the offering of the fee simple interest in 2123-2125 E Street NW, Washington, DC (the “Property”) located in the heart of Foggy Bottom. The subject Property is a one-story (with small 2nd floor office) plus lower-level retail building consisting of approximately 16,326 gross square feet on approximately 9,202 square feet of land zoned MU-2. The Property is leased to one retail tenant (3,360SF) on a triple net basis through August 30, 2030. The remaining 12,739 square feet, formerly a CVS, is available for an owner-occupant or for lease.

2123-2125 E Street, NW offering is an ideal value-creation opportunity. The Property is well positioned for a new owner to strategically reposition the asset to meet their specific goals. For the shorter-term, higher-yield investor, this asset has outstanding potential retail/entertainment venue potential. For the developer, the intrinsic value of this Property is repositioning as condominiums, apartments or a hotel.

Per the MU-2 Zoning, the Property could likely be developed into 67,000+/- square feet of either condos, apartments or a boutique hotel. Foggy Bottom (home to George Washington University) has excellent demand for residential condominiums, apartments and hotel properties, which have sold in the immediate area for record prices in recent years. Additionally, due to the historic nature of the Foggy Bottom / GWU submarket, there are very few opportunities for redevelopment at all, let alone with scale.

Investment highlights

Excellent Student Housing Development Site (Nearby Rents $5.50sf+)

Listing Contacts

SF
MD 654758, DC SP983303 (+1)
AMR Commercial LLC
AMR Commercial LLC
Listed by AMR Commercial LLC

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