Turnkey Mixed-Use Redevelopment
1201 MOUNT OLIVET Road NE Washington, DC 20002
1201 MOUNT OLIVET Road NE, Washington, DC, 20002
$1,950,000
For Sale
$1,950,000
Commercial Sale - WASHINGTON, DC
Property Size3,000 SF
Lot Size0.29 Acres
Price / SF$650
Days on Market64
Property Features for 1201 MOUNT OLIVET Road NE
General Information
- Property type
- Other
- Property subtype
- Retail
- Parking
- 15
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Annual Amount
- 31580
Building Details
- Year built
- 1955
- Building materials
- Brick
Listing agency
Mega Realty & Investment Inc
(703) 642-6342
Listed by
Diane M Lee · License #98317
(703) 534-4989
Added: May 20 Updated: Jun 9 at 11:55AM Checked: Jul 22 at 7:06AM
MLS# DCDC2262812
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at the corner of Mt. Olivet Road and Montello Avenue NE in Washington, DC, this commercial property offers a dual opportunity. It includes a 3,000-square-foot freestanding commercial building and the Northeast Supermarket business. The business has been a community retail hub for approximately 70 years. The property is zoned MU-4 (Mixed-Use Moderate Density), which permits the blending of multi-family housing with neighborhood-serving retail, office spaces, and service centers. Recent capital improvements include a new commercial roof and a new commercial cooler system. The property is located within the target zone of the District's multi-phase municipal revitalization plans, specifically the Ivy City Small Area Plan, which prioritizes the expansion of new housing options, active pedestrian-friendly streets, and community-serving commercial retail. The location is near the Union Market and Ivy City hubs. The lot size is 0.2921 acres. The property offers the potential to develop a multi-story apartment or condo complex over ground-floor retail.
Key Highlights
- High‑upside mixed‑use redevelopment potential: MU‑4 zoning allows for diverse development options.
- Turnkey, cash‑flow positive business: Includes Northeast Supermarket with strong revenue.
- Strategic location in DC Revitalization Zone: Benefit from planned infrastructure investment.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.0k | $36.00 |
| − Vacancy | −$4.9k | −$1.62 |
| EGI | $103.1k | $34.38 |
| − OpEx | −$25.8k | −$8.59 |
| NOI | $77.4k | $25.78 |
3,000 SF · lease $36.00/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.11M
$966.9K – $1.29M
NOI $77,355 @ 7.0% cap · market cap 3.97%
Second Best
Retail
$959.6K
$839.7K – $1.12M
NOI $67,173 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,423 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Northeast Supermarket
Specialty Food Shop
Next Century Leadership ...
Charitable Organization
Similar For Sale Nearby
Similar Off Market Nearby
- Mudrick's Market — 1064 Bladensburg Rd NE, Washington, DC 20002
- MOM's Organic Market — 1501 New York Ave NE, Washington, DC 20002
- Compact Supermarket — 1613 montello ave ne, washington, dc 20002
- Northeast Supermarket — 1201 Mt Olivet Rd NE, Washington, DC 20002
- Safeway — 1601 Maryland Ave NE, Washington, DC 20002
FAQs
What type of property is this?
Grocery and convenience store - Freestanding commercial building with thriving business in growing DC corridor.
Where is this grocery and convenience store located?
The property is located at 1201 MOUNT OLIVET Road NE Washington, DC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: High‑upside mixed‑use redevelopment potential: MU‑4 zoning allows for diverse development options.; Turnkey, cash‑flow positive business: Includes Northeast Supermarket with strong revenue.; Strategic location in DC Revitalization Zone: Benefit from planned infrastructure investment.
