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$1,617,416*
●
Commercial -
Off Market
409 E CAPITOL STREET SE
WASHINGTON, DC 20003
Studio
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
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
In Contract
Multifamily
Stu
-
2,028 ft²
$518/ft²
$1,050,000
Nov 22, 2022
-
$664/mo
Active
Multifamily
Stu
-
1,600 ft²
$625/ft²
$1,000,000
Sep 21, 2022
-
$505/mo
In Contract
Townhouse
3
Beds
2.5
Baths
1,674 ft²
$716/ft²
$1,199,000
Jan 25, 2023
-
$700/mo
Active
Townhouse
3
Beds
3.5
Baths
2,358 ft²
$500/ft²
$1,179,000
Jan 30, 2023
-
$763/mo
Active
Condo
3
Beds
2.5
Baths
1,342 ft²
$837/ft²
$1,123,000
Jan 4, 2023
-
$795/mo
In Contract
Townhouse
3
Beds
1.5
Baths
1,486 ft²
$707/ft²
$1,050,000
Jan 4, 2023
-
$608/mo
Active
Townhouse
4
Beds
3.5
Baths
2,178 ft²
$482/ft²
$1,049,900
Jul 14, 2022
-
$677/mo
Active
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
In Contract
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 |
---|---|---|---|---|---|---|---|---|
09/29/2021
|
|
Loft
|
-
|
-
|
$1,350,000
Loft
-
|
-
-
|
-
|
Brian Logan
Brian Logan Real Estate
|
10/23/2019
|
|
Studio
|
-
|
-
|
$1,250,000
Studio
-
|
-
-
|
-
|
-
|
01/04/2019
|
|
Studio
|
-
|
-
|
$4,000
Studio
-
|
-
-
|
-
|
-
|
Building Info
409 East Capitol Street Southeast
409 East Capitol Street Southeast, Washington, DC 20003
About Southeast Washington
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