1508 U Street
Retail | 8.53% CAP | 3,600 SqFt
Marketing description
Marcus & Millichap is pleased to present 1508 U Street NW, a mixed-use office and retail asset located in the heart of Washington, D.C.'s iconic U Street Corridor—one of the city's most vibrant and high-traffic commercial districts. Positioned just steps from the intersection of 14th Street and U Street, the property benefits from exceptional visibility, strong foot traffic, and immediate access to a wide array of retail, dining, and entertainment destinations. The Class B building consists of approximately 3,576 square feet across four stories, originally constructed in 1900 and renovated in 2020. The building features a fully built-out, bi-level office suite and a separate first-floor retail space, both of which will be delivered vacant. Investors can capitalize on immediate lease-up potential, while owner-users can occupy a portion of the building and generate income from the remaining space.
The property is zoned Mixed-Use (MU-4), permitting a wide range of uses including retail, office, and multifamily. Moreover, the layout allows for multiple tenancy configurations, supported by separate access points for the retail and office components. Further enhancing value-add opportunities, the property is eligible for the Great Streets Grant Program, offering potential funding of up to $80,000 for renovations, equipment, and storefront improvements. 1508 U Street NW is just 6.2 miles from Ronald Reagan Washington National Airport and enjoys ample access to public transportation, with the U Street Metro Station located approximately 0.4 miles away, along with convenient access to Farragut North, Shaw-Howard University Station, and Union Station.
Located in the heart of the U Street Corridor, 1508 U Street NW benefits from one of Washington, D.C.’s most vibrant, amenity-rich, and culturally significant mixed-use corridors.
Investment highlights
- Prime U Street Corridor Location Steps From 14th & U with Strong Foot Traffic and Visibility
- Flexible MU-4 Zoning Allowing Retail, Office, and Multifamily Uses
- Fully Vacant Bi-Level Office and First-Floor Retail Offering Immediate Lease-Up or Owner-User Opportunity
- Great Streets Grant Eligible with Potential Up to $80,000 for Improvements
- Four-Story, 3,576 SF Building Renovated in 2020
- Excellent Transit Access Near U Street Metro, Metrobus, and Capital Bikeshare
- Located in the heart of the U Street Corridor, 1508 U Street NW benefits from one of Washington, D.C.’s most vibrant, amenity-rich, and culturally significant mixed-use corridors.
- Anchored by destination dining and neighborhood staples including
- Ben’s Chili Bowl, Maydan, Le Diplomate, Oohh’s & Aahh’s, and Ben’s Next Door
- Strong day-to-night foot traffic driven by a dynamic mix of restaurants, nightlife, and entertainment venues
- Steps from the U Street/African-Amer Civil War Memorial/Cardozo Metro Station (Green and Yellow Lines) with direct access to Downtown D.C.
- Highly walkable, transit-oriented location with connectivity to Shaw, Logan Circle, and Adams Morgan
- Supported by dense residential population with high household incomes and a highly educated workforce
- Proven demand for boutique and small-format office users seeking character-rich space in an amenity-driven environment
- Located within a supply-constrained, high-barrier-to-entry submarket with long-term growth fundamentals
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