Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    440 Penn St NE Washington, DC 20002

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in the thriving Union Market District.

    Property size:
    6,210 SF
    Lot size:
    0.86 Acres

    Property Features for 440 Penn St NE

    General Information

    Size
    6,210 SF
    Lot size
    0.86 Acres

    We can help!

    Listing Contact
    Stephanie Fox Miller
    Source: Moodyscre

    Listing Agent: Stephanie Fox Miller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space in Union Market

    Located in the historically relevant Union Market District, this retail space offers 6210 square feet. The Union Market District is known for its diverse offerings, including shopping, dining, arts, entertainment, and community events. Union Market itself hosts more than 35 independent merchants and purveyors of food and drink, alongside a mix of small businesses, nationally recognized retail brands, and highly rated restaurants. The district also features La Cosecha, a Latin American marketplace designed for community and conversation with a philanthropic mission to foster business education throughout Latin America. An open-air rooftop bar and green space with 360-degree city views further distinguishes the Union Market District.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Washington
    County
    District of Columbia
    State
    DC
    Longitude
    -76.9971703
    Latitude
    38.9105445

    Nearby Similar for Lease

    • $2,771 /Mo
      1,742 SF

      Bright Office Space Available

      Second-floor office suite in a dynamic, growing DC corridor.
      2010 Floor -, Washington, DC 20018
      View Details
    • $4,800 /Mo

      Capitol Hill Office Space Available

      Office space near Union Station, U.S. Capitol, and major buildings.
      525 2Nd St NE, Washington, DC 20002
      View Details
    • $1,750,000
      8,712 SF

      Prime Retail Space in DC

      Former market space ideal for grocery, food service, or retail.
      2001 S St NW, Washington, DC 20009
      View Details
    • $5,200 /Mo
      3,049 SF

      Bloomingdale Commercial Space For Lease

      Versatile commercial property in the heart of Bloomingdale.
      82 T St NW, Washington, DC 20001
      View Details
    • $4,100 /Mo
      1,307 SF

      Prime Commercial Space in DC

      High-visibility commercial space with off-street parking in Washington, DC.
      505 Florida Ave NW, Washington, DC 20001
      View Details
    • $3,000 /Mo
      1,307 SF

      Renovated Office Space Near Metro

      Move-in ready office space near Dupont Circle with included utilities.
      1806 Florida Ave NW, Washington, DC 20009
      View Details
    • $3,500 /Mo
      2,178 SF

      Prime Corner Commercial Space Available

      Highly visible commercial space in Capitol Hill East.
      1453 SE Unit, Washington, DC 20003
      View Details
    • $11,900 /Mo
      1,742 SF

      Renovated Retail/Office Space Available

      Move-in ready retail/office space with excellent signage and convenient location.
      515 11Th St SE, Washington, DC 20003
      View Details
    • $5,800 /Mo
      1,307 SF

      Prime Retail Space Near Metro

      Two-level retail space near national retailers and metro.
      405 Rhode Island Ave NE, Washington, DC 20002
      View Details
    • $30 SF/Yr
      2,178 SF

      Versatile Retail/Office Space Available

      2,399 sq ft retail/office space in prime location.
      4129 9Th St NW, Washington, DC 20011
      View Details
    • $3,216 /Mo
      871 SF

      Capitol Hill Commercial Lease Opportunity

      Charming 2-level townhome ideal for retail or professional office.
      311 8Th St NE, Washington, DC 20002
      View Details
    • $2,000 /Mo
      4,356 SF

      Office Suite in Washington, DC

      Well-appointed office suite with ample space and convenient location.
      2811 Pennsylvania Ave SE, Washington, DC 20020
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in the thriving Union Market District.
    Where is this retail space located?
    The property is located at 440 Penn St NE Washington, DC.
    What are key features of this property?
    This property features: - Located in the thriving Union Market District, a hub for shopping, dining, arts, and entertainment.; - Features over 35 independent food and drink merchants within Union Market.; - Includes La Cosecha, a contemporary Latin American marketplace and culinary embassy.
    (202) 902-2600
    Request Owner's contact information
    440 Penn St NE Washington, DC 20002
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    440 Penn St NE
    Washington, DC 20002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    440 Penn St NE Washington, DC 20002
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Stephanie Fox Miller
    (202) 902-2600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.