2703 12th Street Northeast
About This Property
Marketing description
Marcus & Millichap is pleased to exclusively present 2703 12th Street NE, a mixed-use
asset located in the highly desirable and rapidly evolving Brookland neighborhood of Northeast
Washington, D.C. Offered at $768,000, this property presents a compelling opportunity to
acquire a partially leased, income-producing asset with immediate cash flow and clear upside
through residential lease-up.
This 2,406 SF mixed-use property consists of a street-level retail space, currently occupied with
a long-term NNN lease, and two residential units (a one-bedroom unit and a two-bedroom unit)
on the second and third level. Each of the residential units and the commercial space were
renovated in 2021. The building also has new HVAC units and an updated roof. These
renovations and balanced income stream offer investors the opportunity to acquire a mixed-use
asset with in-place income and a property with no immediate capital improvement needs.
After executing a lease-up strategy with the one two-bedroom residential unit, the property is
projected to achieve a Pro Forma CAP rate of approximately 7.0%, driven by full occupancy
and optimized rental income. The presence of a stabilized retail tenant enhances the asset’s
income durability, while the residential component offers flexibility and continued demand from
renters seeking well-located housing in Northeast D.C.
Situated just steps from the commercial corridor along Rhode Island Avenue NE and minutes
from the Brookland-CUA Metro Station, the property benefits from strong connectivity to
downtown Washington, D.C. and the broader metropolitan area. The surrounding neighborhood
supports a mix of retail, service-oriented businesses, and residential demand driven by proximity
to transit and employment centers.
The Brookland neighborhood has undergone significant transformation over the past decade,
emerging as one of Northeast D.C.’s most sought-after submarkets. The nearby Monroe Street
Market has become a central hub for retail, dining, and community activity, further enhancing
the area’s appeal and long-term growth trajectory.
With its mixed-use layout, in-place income, and clear path to stabilization, 2703 12th Street
NE represents an ideal opportunity for investors seeking a value-add asset in one of Washington,
D.C.’s most dynamic and expanding neighborhoods.
Investment highlights
• Mixed-Use Asset Featuring Street-Level Retail and Two Residential Units Above
• Offered at $768,000
• Retail Space Fully Occupied Providing Stable In-Place Income
• Two Residential Units (1 Occupied | 1 Vacant) Offering Lease-Up Upside• Pro Forma 7.0% Cap Rate Upon Full Stabilization
• Value-Add Opportunity Through Leasing of Vacant Residential Unit
• Diversified Income Stream Across Commercial and Residential Tenancy
• Located in the Brookland Neighborhood, One of Northeast D.C.’s Fastest-Growing
Submarkets
• Steps from Rhode Island Avenue Corridor and Minutes to the Brookland-CUA Metro
Station
• Proximity to Monroe Street Market, a Major Retail and Community Destination
• Strong Rental Demand Driven by Transit Access and Neighborhood Growth
• Ideal for Investors Seeking a Value-Add Mixed-Use Investment with Upside Potential
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