Three-Level Retail and Creative
For Sale
$1,498,000
3322 - 3324 GEORGIA Avenue NW, Washington, DC 20010
Commercial Sale - WASHINGTON, DC
Property Size2,800 SF
Lot Size0.06 Acres
Price / SF$535
Days on Market110
Property Features for 3322 - 3324 GEORGIA Avenue NW
General Information
Property type
Other
Property subtype
Retail
Parking features
On Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
21715
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Building materials
Brick
Listing Agency:
W F Chesley Real Estate, LLC.
(301) 261-6700
Listed By:
Andrew J MacPherson · License #IB42552
(301) 509-5169
Added: May 5
Changed: Jul 8
Last Checked: Aug 22 at 7:06PM
MLS# DCDC2260136
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.
The property at 3322–3324 Georgia Avenue NW is a three-level commercial building totaling approximately 2,800 square feet. The listing describes the space as a fit-out opportunity for an owner-occupant or investor, with flexibility for a range of uses including retail storefront, showroom, gallery, boutique, fitness studio, residential apartments, or creative offices. The key physical features noted include prominent street frontage and two rear parking pads.
Located in the Petworth/Park View area, the property is presented as convenient to multiple bus lines. The Georgia Ave–Petworth Metro station is described as approximately a third of a mile away. The area is characterized in the remarks as transitioning from primarily residential to a more active commercial corridor, with several new residential and mixed-use projects completed or underway.
For tenants, buyers, or operators, the building’s combination of street-facing presence and rear parking pads can support both customer-facing retail and more destination-oriented uses. Its three-level configuration also allows for a variety of internal layouts, whether operated as a single concept or adapted to mixed or multi-use programming, subject to applicable approvals.
Located in the Petworth/Park View area, the property is presented as convenient to multiple bus lines. The Georgia Ave–Petworth Metro station is described as approximately a third of a mile away. The area is characterized in the remarks as transitioning from primarily residential to a more active commercial corridor, with several new residential and mixed-use projects completed or underway.
For tenants, buyers, or operators, the building’s combination of street-facing presence and rear parking pads can support both customer-facing retail and more destination-oriented uses. Its three-level configuration also allows for a variety of internal layouts, whether operated as a single concept or adapted to mixed or multi-use programming, subject to applicable approvals.
Key Highlights
- Prime location in the highly desirable Petworth/Park View neighborhood.
- High foot traffic and prominent street frontage ideal for commercial ventures.
- Two rear parking pads, a rare and valuable amenity.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,923
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,460
$898.5K
Cap Rate 7%
$641,757
$641.8K
Cap Rate 9%
$499,144
$499.1K
Market Conditions
NOI Build-Up for 2,800 SF
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.
Gross rent
$67.2K $24.00/SF
− Vacancy
−$3.0K −$1.08/SF
EGI
$64.2K $22.92/SF
− OpEx
−$19.3K −$6.88/SF
NOI
$44.9K $16.04/SF
Area
Washington, DC
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$898,460
Cap Rate 7%
$641,757
Cap Rate 9%
$499,144
Alternative Uses
Best Use
Retail
$641.8K
$561.5K – $748.7K
NOI $44,923 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,816 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,017
Businesses Nearby
108k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 42%
Electronics 6%
Beauty & Spa 3%
Giant
Groceries
45,769 visits/mo
0.4 miles
7-Eleven
Shops & Services
25,739 visits/mo
0.5 miles
BP
Shops & Services
8,046 visits/mo
0.1 miles
Bank of America
Shops & Services
4,955 visits/mo
0.1 miles
Nationwide Insurance
Shops & Services
4,153 visits/mo
0.5 miles
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-level property with prominent street frontage and two rear parking pads, offering flexible space for multiple concepts.
Where is this storefront property located?
The property is located at 3322 - 3324 GEORGIA Avenue NW Washington, DC.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Prime location in the highly desirable Petworth/Park View neighborhood.; High foot traffic and prominent street frontage ideal for commercial ventures.; Two rear parking pads, a rare and valuable amenity.
