Mixed-Use Building with Vacant
For Sale
$899,900
1009 E St SE, Washington, DC 20003
Two-level property combining a vacant dental office area with residential space above.
Property Size1,680 SF
Price / SF$535.65
Days on Market12
Property Features for 1009 E St SE
General Information
Standard status
Active
Size
1,680 SF
Building Details
Year Built
1930
Listing Agency:
Michaels Realty, Inc.
(301) 306-1777
Listed By:
Abiodun Olorunwunmi
Source:
Themelaninteam
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 25 at 5:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Michaels Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 1009 E Street SE, this 1930 mixed-use building has a residential upper level and a first floor previously converted for dental office use. The lower level is vacant, and the seller can remove the existing partition walls. That area may be returned to residential configuration.
The property faces Pennsylvania Ave. SE and sits directly behind Eastern Market Park. Residential and commercial uses are permitted, supporting a flexible arrangement within the existing structure. The building’s current layout combines office improvements on the main level with residential space upstairs.
The property faces Pennsylvania Ave. SE and sits directly behind Eastern Market Park. Residential and commercial uses are permitted, supporting a flexible arrangement within the existing structure. The building’s current layout combines office improvements on the main level with residential space upstairs.
Key Highlights
- Residential and commercial uses permitted
- First floor converted to a dental office and currently vacant
- Upper level remains residential
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
$30,101
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
3.34%
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%
$602,020
$602.0K
Cap Rate 7%
$430,014
$430.0K
Cap Rate 9%
$334,456
$334.5K
Market Conditions
NOI Build-Up for 1,680 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
$45.4K $27.00/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$43.0K $25.60/SF
− OpEx
−$12.9K −$7.68/SF
NOI
$30.1K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$602,020
Cap Rate 7%
$430,014
Cap Rate 9%
$334,456
Alternative Uses
Best Use
Multifamily LT 5
$430.0K
$376.3K – $501.7K
NOI $30,101 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$398.8K
$348.9K – $465.2K
NOI $27,914 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$864.1K
$756.1K – $1.01M
NOI $60,490 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property combining a vacant dental office area with residential space above.
Where is this mixed-use property located?
The property is located at 1009 E St SE Washington, DC.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Residential and commercial uses permitted; First floor converted to a dental office and currently vacant; Upper level remains residential
