Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    2218 Rhode Island Ave NE Washington, DC 20018

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,250,000

    Mixed-use property built out as medical office, move-in ready.

    Lot size:
    0.04 Acres

    Property Features for 2218 Rhode Island Ave NE

    General Information

    Lot size
    0.04 Acres

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Ari Firoozabadi
    Source: Elliman

    Listing Agent: Ari Firoozabadi

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

    Learn more

    Overview

    Mixed-Use Property, Medical Office Build-Out

    This mixed-use zoned property is currently built out as a medical office. It features alley access, parking, and a garage. The property is in excellent condition and move-in ready for a medical office user. Its flexible MU-4 zoning allows for a range of commercial and residential uses. This presents an opportunity for an investor or owner/user to utilize the entire building as commercial space or convert the 2nd level to residential. The property has 20 feet of frontage on Rhode Island Avenue NE, connecting the University of Maryland to Downtown Washington, DC.
    Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Washington
    County
    District of Columbia
    State
    DC
    Longitude
    -76.9734298
    Latitude
    38.9307013

    Nearby Similar for Sale

    • New
      $999,999
      3,722 SF

      Multi-Family Building in Washington, DC

      Four-unit, fully-brick multi-family building with modern upgrades in Washington, DC.
      413 Evarts St NE, Washington, DC 20017
      View Details
    • New
      $499,999
      1,995 SF

      Congress Heights Triplex: Income Potential

      Three-unit multifamily building in Congress Heights, ideal for investors or owner-occupants.
      507 Brandywine St SE, Washington, DC 20032
      View Details
    • New
      $2,195,000
      3,730 SF

      Capitol Hill Mixed-Use Corner Property

      Mixed-use property with commercial spaces and apartments in Capitol Hill.
      653-655 Constitution Ave NE, Washington, DC 20002
      View Details
    • $1,650,000
      2,781 SF

      Two-Unit Building in Shaw Neighborhood

      Elegant two-unit building in vibrant Shaw neighborhood, Washington, DC.
      1242 New Jersey Ave NW, Washington, DC 20001
      View Details
    • $2,995,000
      5,306 SF

      Luxury Residences in Columbia Heights

      Four luxury units in a sought-after NW location.
      1461 Chapin St NW, Washington, DC 20009
      View Details
    • $1,399,000
      3,635 SF

      Victorian Four-Unit Building with Garage

      South-facing four-unit building in historic Mount Pleasant with garage.
      1829 Monroe St NW, Washington, DC 20010
      View Details
    • $2,500,000
      4,457 SF

      Luxurious Multi-Level Residence with Apartment

      Expansive residence with lower-level apartment, ideal for modern living.
      2815 39Th St NW, Washington, DC 20007
      View Details
    • $1,350,000
      0.14 Acres

      Renovated Multifamily Building in Trinidad

      Six-unit multifamily property with income and appreciation potential in Trinidad.
      1307-1309 Holbrook St NE, Washington, DC 20002
      View Details
    • $1,395,000
      1,771 SF

      Capitol Hill Victorian Multifamily Property

      Victorian triplex with carriage house near Barracks Row.
      812 Street Expy E, Washington, DC 20003
      View Details
    • $1,189,000
      3,020 SF

      Bloomingdale Two-Unit Property

      Expansive two-unit property with 10 bedrooms in Bloomingdale.
      28 T St NW, Washington, DC 20001
      View Details
    • $1,800,000
      4,190 SF

      Unique Quadruplex in Historic District

      Rare investment opportunity near metro, with potential for multiple owners.
      513-519 12Th St SE, Washington, DC 20003
      View Details
    • $5,600,000
      7,325 SF

      Georgetown Multifamily Investment Opportunity

      Rare Georgetown multifamily asset with secure cash flow and enduring demand.
      1072 Thomas Jefferson St NW, Washington, DC 20007
      View Details

    FAQs

    What type of property is this?
    Medical office - Mixed-use property built out as medical office, move-in ready.
    Where is this medical office located?
    The property is located at 2218 Rhode Island Ave NE Washington, DC.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Move-in ready medical office in excellent condition; - Flexible MU-4 zoning allows for commercial and residential uses; - Great opportunity for investor or owner/user to convert 2nd level to residential
    (202) 280-2722
    Request Owner's contact information
    2218 Rhode Island Ave NE Washington, DC 20018
    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.
    2218 Rhode Island Ave NE
    Washington, DC 20018
    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
    2218 Rhode Island Ave NE Washington, DC 20018
    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
    Ari Firoozabadi
    (202) 280-2722
    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.