Turnkey Market with Redevelopment
For Sale
$1,600,000
1201 Mount Olivet Rd NE, Washington, DC 20002
Freestanding commercial building with thriving business and redevelopment potential.
Property Size3,000 SF
Price / SF$533.33
Days on Market159
Property Features for 1201 Mount Olivet Rd NE
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
Mega Realty & Investment Inc
Listed By:
Diane M Lee · License #022522798
(703) 534-4989
Source:
Baltimoreharfordhomesforsale
Added: May 10
Changed: Oct 1
Last Checked: Oct 14 at 11:33PM
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 Mega Realty & Investment Inc
Investment Insights
Based on property information with market context.
Located at the corner of Mt. Olivet Road and Montello Avenue NE, this commercial listing offers a 3,000-square-foot freestanding commercial building and the Northeast Supermarket business. The MU-4 zoning permits mixed-use development, blending multi-family housing with neighborhood-serving retail, office spaces, and service centers. The Northeast Supermarket has been a retail hub for the community for approximately 70 years. Recent upgrades include a new commercial roof and a new commercial cooler system. The property is located inside the target zone of the District’s multi-phase municipal revitalization plans, including The Ivy City Small Area Plan, which guides infrastructure capital into this corridor. The city's master plan prioritizes the expansion of new housing options, active pedestrian-friendly streets, and community-serving commercial retail along the Ivy City and Trinidad borders. The location is positioned blocks away from Union Market and Ivy City. The property offers air rights expansion, allowing for the development of a multi-story apartment or condo complex over ground-floor retail.
Key Highlights
- High‑upside mixed‑use redevelopment potential: MU‑4 zoning allows for multi‑family housing with retail, office, or service centers, enabling lucrative vertical development.
- Turnkey business with strong cash flow: Includes the Northeast Supermarket, a thriving business with consistent revenue under absentee ownership, ensuring immediate income.
- Strategic location in revitalization zone: Situated within the Ivy City Small Area Plan, benefiting from planned public and private infrastructure investment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,355
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,547,100
$1.5M
Cap Rate 7%
$1,105,071
$1.1M
Cap Rate 9%
$859,500
$859.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$108.0K $36.00/SF
− Vacancy
−$4.9K −$1.62/SF
EGI
$103.1K $34.38/SF
− OpEx
−$25.8K −$8.59/SF
NOI
$77.4K $25.78/SF
Area
ZIP 20002
Vacancy
4.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,547,100
Cap Rate 7%
$1,105,071
Cap Rate 9%
$859,500
Alternative Uses
Best Use
Specialty Retail
$1.11M
$966.9K – $1.29M
NOI $77,355 @ 7.0% cap · market cap 4.83%
Second Best
Retail
$959.6K
$839.7K – $1.12M
NOI $67,173 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,423 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Denny's
Dining
10,623 visits/mo
0.4 miles
Shell
Shops & Services
9,385 visits/mo
0.4 miles
Shell
Shops & Services
8,267 visits/mo
0.4 miles
Exxon
Shops & Services
4,716 visits/mo
0.1 miles
Mobil
Shops & Services
2,898 visits/mo
0.4 miles
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Safeway — 1601 Maryland Ave NE, Washington, DC 20002
- Mudrick's Market — 1064 Bladensburg Rd NE, Washington, DC 20002
- Compact Supermarket — 1613 montello ave ne, washington, dc 20002
- Northeast Supermarket — 1201 Mt Olivet Rd NE, Washington, DC 20002
- MOM's Organic Market — 1501 New York Ave NE, Washington, DC 20002
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Freestanding commercial building with thriving business and redevelopment potential.
Where is this grocery and convenience store located?
The property is located at 1201 Mount Olivet Rd NE Washington, DC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: High‑upside mixed‑use redevelopment potential: MU‑4 zoning allows for multi‑family housing with retail, office, or service centers, enabling lucrative vertical development.; Turnkey business with strong cash flow: Includes the Northeast Supermarket, a thriving business with consistent revenue under absentee ownership, ensuring immediate income.; Strategic location in revitalization zone: Situated within the Ivy City Small Area Plan, benefiting from planned public and private infrastructure investment.
