See Home Value
Washington 20003 Capitol Hill
409 E CAPITOL STREET SE
$1,617,416*
Commercial - Off Market

409 E CAPITOL STREET SE

WASHINGTON, DC 20003
bedrooms
Studio
bathrooms
0 Bath
$1,125,000 - $1,375,000
Reference Base Price*
29.39%
Since May 1, 2020
DC-Washington
Primary Model

About This Property

The subject property is a two-story, 1,746-square foot building situated onan 1,800 square foot lot. Located in the Capitol Hill neighborhood, 409 EastCapitol Street SE represents an opportunity for a savvy investor to acquire a 100% leased, mixed-use commercial property in one of Washington, D.C.~s most desirable and stable submarkets. The first level of the property is currently leased to Capitol Hill Valet, which provides pick-up and drop-off dry-cleaning services. The business does not perform any dry cleaning services onsite therefore there is no increased risk of environmental contamination. The base term of the lease expires onJune 30th, 2022, followed by an additional 5-year option period. The tenant is currently paying just below $35 per square foot and is responsible for its share of taxes, insurance, utilities, trash and CAM. On July 1st, 2020, the tenant~s base rent will increase by 20 percent providing a significant amount of rent growth in a short period of time. The second level of the property is a two-bedroom/one-bathroom apartment unit which is currently leased through July 31st, 2020. The unit has excellent natural light throughout, hardwood floors, and a stairwell leading to a rear patio area. The unit has been well maintained, only requiring minor cosmetic upgrades in order to achieve top-of-the-market rents. As there is only one residential unit, the sale of 409 East Capitol Street SE will not be subject to the TenantOpportunity to Purchase Act (~TOPA~). Without any extended statutory time line necessary, this opportunity is well suited for all types of investors including those in search of a 1031 exchange upleg. The subject property is located along East Capitol Street in Capitol Hill, one of the District~s most affluent and stable neighborhoods. The submarket itself offers numerous tourist attractions such as the Library of Congress, the UnitedStates Capitol Building, and United States Supreme Court. The subject property benefits from its close proximity to Barracks Row, home to the United StatesMarine Barracks, and well-known for its retail and restaurant scene which has exploded over the last decade. 409 East Capitol Street SE is also close to EasternMarket and the Trader Joe~s-anchored Hine School redevelopment project which is known as 700 Penn at Eastern Market. Additionally, the subject property is approximately one half mile from the Capitol Hill South and Eastern MarketMetro Stations, and one mile from Union Station.
Unit Size
-
Days on Market
-
Land Size
0.04 acres
Price per sqft
-
Property Type
Commercial
Property Taxes
$13,304
HOA Dues
-
Year Built
1900

Price History

Date / Event Date Event Price
Apr 16, 2020 No longer available -
No longer available
Oct 23, 2019 Listed $1,250,000
Listed

Property Highlights

Air Conditioning


Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Commercial
Loft
-
-
$1,175,000 Dec 12, 2022
-
$1,208/mo
Multifamily
Stu
-
2,028 ft²
$518/ft²
$1,050,000 Nov 22, 2022
-
$664/mo
Multifamily
Stu
-
1,600 ft²
$625/ft²
$1,000,000 Sep 21, 2022
-
$505/mo
Townhouse
1 Bed
2 Baths
-
$1,175,000 Jan 18, 2023
-
$1,208/mo
Townhouse
3 Beds
2.5 Baths
1,674 ft²
$716/ft²
$1,199,000 Jan 25, 2023
-
$700/mo
Townhouse
3 Beds
3.5 Baths
2,358 ft²
$500/ft²
$1,179,000 Jan 30, 2023
-
$763/mo
Condo
3 Beds
2.5 Baths
1,342 ft²
$837/ft²
$1,123,000 Jan 4, 2023
-
$795/mo
Townhouse
3 Beds
1.5 Baths
1,486 ft²
$707/ft²
$1,050,000 Jan 4, 2023
-
$608/mo
Townhouse
4 Beds
3.5 Baths
2,178 ft²
$482/ft²
$1,049,900 Jul 14, 2022
-
$677/mo
Townhouse
3 Beds
1.5 Baths
1,508 ft²
$680/ft²
$1,025,000 Jan 18, 2023
-
$593/mo
Townhouse
4 Beds
2 Baths
1,600 ft²
$674/ft²
$1,079,000 Dec 16, 2022
-
$641/mo
Townhouse
2 Beds
1 Bath
1,736 ft²
$576/ft²
$1,000,000 Nov 3, 2022
-
$311/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20210929
09/29/2021
Loft
-
-
$1,350,000
bedrooms
Loft
bathrooms
-
-
-
-
Brian Logan
Brian Logan Real Estate
20191023
10/23/2019
Studio
-
-
$1,250,000
bedrooms
Studio
bathrooms
-
-
-
-
-
20190104
01/04/2019
Studio
-
-
$4,000
bedrooms
Studio
bathrooms
-
-
-
-
-

Building Info

409 East Capitol Street Southeast 409 East Capitol Street Southeast, Washington, DC 20003
More about this Building
409 East Capitol Street Southeast
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About Southeast Washington


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