Capitol Hill Retail/Office
For Sale
Contact for pricing
1240 Pennsylvania Ave. SE, Washington, DC 20003
Three-level retail/office property in Capitol Hill's commercial corridor.
Property Size2,471 SF
Price / SF$424.93
Days on Market201
Property Features for 1240 Pennsylvania Ave. SE
General Information
Standard status
Active
Size
2,471 SF
Property subtype
Office, Retail
Zoning
MU-4/CHC
Investment Type
Owner/User
Building Details
Year Built
1900
Buildings
1
Stories
3
Units
2
Listing Agency:
Feldman Ruel
Listed By:
Josh Feldman · License #DC BR200201416
Source:
Crexi
Added: Mar 20
Changed: Sep 26
Last Checked: Oct 5 at 5:37PM
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
Investment Insights
Based on property information with market context.
Located on Capitol Hill's main commercial corridor, 1240 Pennsylvania Avenue SE is a three-level retail/office property available for sale or lease. The property is delivered vacant, allowing immediate occupancy for a full or partial user upon sale. Zoned MU-4/CHC, the property permits a range of retail, office, and residential uses. Situated near Barracks Row and Eastern Market, the location benefits from a concentration of established retail and service providers within a stable and highly educated submarket of Washington, D.C. The property is accessible, located a few blocks from the Potomac Avenue and Eastern Market Metrorail stations, steps from a Capital Bikeshare docking station, and minutes from I-695, I-395, and I-295. The property size is 2471 square feet.
Key Highlights
- Delivered vacant, allowing immediate occupancy.
- Located in Capitol Hill's main commercial corridor, near Barracks Row and Eastern Market.
- Zoned MU‑4/CHC, permitting a broad range of uses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,459
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,569,180
$1.6M
Cap Rate 7%
$1,120,843
$1.1M
Cap Rate 9%
$871,767
$871.8K
Market Conditions
NOI Build-Up for 2,471 SF
Gross rent
$124.5K $50.40/SF
− Vacancy
−$19.9K −$8.06/SF
EGI
$104.6K $42.34/SF
− OpEx
−$26.2K −$10.58/SF
NOI
$78.5K $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%
$1,569,180
Cap Rate 7%
$1,120,843
Cap Rate 9%
$871,767
Alternative Uses
Best Use
Office B
$1.12M
$980.7K – $1.31M
NOI $78,459 @ 7.0% cap · market cap 7.47%
Second Best
Retail
$566.4K
$495.6K – $660.8K
NOI $39,645 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,970 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Washington, DC
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Frequently Asked Questions
What type of property is this?
Retail space - Three-level retail/office property in Capitol Hill's commercial corridor.
Where is this retail space located?
The property is located at 1240 Pennsylvania Ave. SE Washington, DC.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Delivered vacant, allowing immediate occupancy.; Located in Capitol Hill's main commercial corridor, near Barracks Row and Eastern Market.; Zoned MU‑4/CHC, permitting a broad range of uses.
