Turnkey Market with Redevelopment
1201 Mount Olivet Rd Ne, Washington, DC 20002
Freestanding commercial building with thriving business and redevelopment potential.
Type:Commercial
Property size:
3,000 SFPrice / SF:
$650/SF- Added:
- May 19, 2026
- Days on Market:
- 9
- Last Refresh:
- May 21 at 7:21 am
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 agent TERRI YOON License #SP40002225
Listing office MEGA REALTY & INVESTMENT INC (703) 642-6342
Listing date May 19, 2026
Source Corcoran
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
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.
- Recent high‑value upgrades: Features a brand‑new commercial roof and cooler system, minimizing deferred maintenance and ensuring operational efficiency.
- Proximity to booming areas: Located near Union Market and Ivy City, poised to benefit from rapid neighborhood appreciation and population growth.
- Established community staple: The Northeast Supermarket has served the community for approximately 70 years, providing a stable customer base.
Overview
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.
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar Places Nearby
- Mudrick's Market — 1064 Bladensburg Rd NE, Washington, DC 20002
- MOM's Organic Market — 1501 New York Ave NE, Washington, DC 20002
- Compact Supermarket — 1613 montello ave ne, washington, dc 20002
- Northeast Supermarket — 1201 Mt Olivet Rd NE, Washington, DC 20002
- Safeway — 1601 Maryland Ave NE, Washington, DC 20002
Map
- City
- Washington
- County
- District of Columbia
- State
- District of Columbia
- Longitude
- -76.9848133
- Latitude
- 38.9097891
Nearby Similar for Sale
FAQs
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 $1,950,000.
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.
