Four-Level Office Building with Gated
1115 MASSACHUSETTS AVENUE NW, Washington, DC 20005
For Sale
New
$2,850,000
Grandfathered office and office-retail use is permitted within the D-1-R zone.
Property Size5,472 SF
Lot Size0.07 Acres
Price / SF$520.83
Days on Market4
Property Features for 1115 MASSACHUSETTS AVENUE NW
General Information
Standard status
Size
Total Parking Spaces
Lot size
Zoning
Site & Location
Neighborhood
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Other
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Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Feldman Ruel Urban Property Advisors
Listed By:
Ian Ruel · License #DC BR200201389
(202) 318-6800
Source:
Evrealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:22AM
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 Feldman Ruel Urban Property Advisors
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Investment Insights
Based on property information with market context.
This four-level office building contains 5,472 square feet on a 2,874-square-foot lot. The interior includes 17 private offices, seven restrooms, and three kitchenettes. A gated parking area at the rear accommodates up to four cars in tandem, with access from both 11th and 12th Streets NW.
The property is three blocks west of the Walter E. Washington Convention Center, which includes 2.3 million square feet of event and meeting space and more than 700,000 square feet of exhibition space.
The site carries D-1-R zoning. Its office and office-retail use has been grandfathered for more than 25 years, allowing continued use as office or mixed-use office and retail.
The property is three blocks west of the Walter E. Washington Convention Center, which includes 2.3 million square feet of event and meeting space and more than 700,000 square feet of exhibition space.
The site carries D-1-R zoning. Its office and office-retail use has been grandfathered for more than 25 years, allowing continued use as office or mixed-use office and retail.
Key Highlights
- 5,472‑square‑foot office building on a 2,874‑square‑foot lot
- Four levels with 17 private offices, seven restrooms, and three kitchenettes
- Rear gated parking accommodates up to four cars in tandem
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$173,747
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,474,940
$3.5M
Cap Rate 7%
$2,482,100
$2.5M
Cap Rate 9%
$1,930,522
$1.9M
Market Conditions
NOI Build-Up for 5,472 SF
Gross rent
$275.8K $50.40/SF
− Vacancy
−$44.1K −$8.06/SF
EGI
$231.7K $42.34/SF
− OpEx
−$57.9K −$10.58/SF
NOI
$173.7K $31.75/SF
Area
Washington, DC
Vacancy
16.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,474,940
Cap Rate 7%
$2,482,100
Cap Rate 9%
$1,930,522
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.90M
NOI $173,747 @ 7.0% cap · market cap 6.10%
Second Best
Mixed Use
$1.29M
$1.13M – $1.50M
NOI $90,288 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $197,024 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
19,367
Businesses Nearby
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Business Placement
Demographics for 20005, DC
12,953
Population
9,558
Households
1.4
Avg Household Size
35
Median Age
80%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
32,383
Density / Sq Mi
$111,960
Median Household Income
$100,188
Median Earnings
$2,223
Median Rent
$636,000
Median Home Value
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Market
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Vacancy Rate% for Office in Washington, DC
Frequently Asked Questions
What type of property is this?
Office building - Grandfathered office and office-retail use is permitted within the D-1-R zone.
Where is this office building located?
The property is located at 1115 MASSACHUSETTS AVENUE NW Washington, DC.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 5,472‑square‑foot office building on a 2,874‑square‑foot lot; Four levels with 17 private offices, seven restrooms, and three kitchenettes; Rear gated parking accommodates up to four cars in tandem
