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29348463
29348462

2900 Minnesota Ave SE, Washington, DC 20019

KS
DC, VA 0226026569
Fortune Realty Advisors
Listed by Fortune Realty Advisors
$3,000,000
139 days on market
Updated 2 days ago
Opportunity zone

2900-2924 Minnesota Avenue - Entire city block

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 9,200
Cap Rate 6.7%
NOI $201,009
Occupancy 80%
Tenancy Multi
Lease Type Modified
Price per SqFt $326
Investment Type Stabilized
Ground Lease No
Ownership fee simple

Retail Shopping Center / Entire city Block

Marketing description

Fortune Realty is pleased to exclusively present 2900-2924 Minnesota Avenue SE, on a 0.45 Acre Lot 9,200 SF occupying an entire city block. 2 contiguous building across 2 legal lots, 222 feet of street frontage, plenty of parking at the alley behind & side of building area. Nine (9) multi-tenant, a new owner has the flexibility to collect income from the leased portions while simultaneously occupying the remaining space to create additional upside. Located in HUB and Opportunity Zones, MU-3A Zoning allows for retail, medical and childcare. 2900 Minnesota Avenue SE may have future up zoning potential from its current MU-3A zoning designation (1.0 FAR + IZ / Affordable housing) to an MU-4 zoning designation (2.5 FAR + IZ / Affordable housing) through the map amendment or PUD process.

Investment highlights

  • Entire City Block - 0.45 Acre Lot, 9,200 SF
  • 2 Legal Lots, can be sold separately
  • Nine (9) multi-tenants
  • HUB and Opportunity Zone

Listing Contacts

KS
DC, VA 0226026569
Fortune Realty Advisors
Listed by Fortune Realty Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$201,009.00
$16,750.75/mo

Valuation Metrics

0
DSCR
6.7%
Cap Rate
6.7%
ROI

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