2-Tenant Mixed-Use Asset
Mixed Use | 7.00% CAP | 15,623 SqFt
Marketing description
• The property totals 15,623 SF and is 100% leased to two tenants, offering a complementary mix of necessity-based and experiential uses in the heart of Chinatown and Downtown Washington, D.C.
• The current tenant mix is comprised of two essential service tenants, Chili Bistro (34% of GLA), occupying the basement and ground floor, and Templeton Academy (66% of GLA), occupying the ground, second, and third floors, providing stable and diversified income streams
• With a weighted average lease term (WALT) of approximately 9.7 years, the asset benefits from Chili Bistro’s recently executed 12.5-year lease in 2025 and Templeton Academy’s 8-year lease set to commence in June 2026
• Both tenants operate under leases that are net in nature, reducing the risk of expense slippage for a future investor
• Chili Bistro is a well-established local favorite and operates a full-service restaurant, while Templeton Academy provides an education-focused institutional use that supports consistent daily activity and community engagement
Investment highlights
- 2-Tenant Streetfront Asset | WALT - 9.7 Years | Net Leases |Scheduled 2.5% - 3% Annual Rent Increases | Options to Extend
- Located Along 7th Street NW | Heart of Chinatown | Positioned 2 Blocks From Capital One Arena (20,000 Seats)
- Walter E. Washington Convention Center (42,000 Seats) | Nearby Metro Stations (Gallery Place & Mt. Vernon Triangle)
- Affluent Consumer Base | Strong Demographics
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