Mixed-Use Building in U
1508 U Street Washington, DC 20009
For Sale
$1,895,000
Mixed-use property in vibrant U Street Corridor, Washington, D.C.
Property Size3,576 SF
Price / SF$529.92
Days on Market110
Property Features for 1508 U Street
General Information
- Standard status
- Active
- Size
- 3,576 SF
- Property subtype
- Multifamily
Listing Agency:
Washington, D.C. Office
(202) 536-3705
Listed By:
Stacey Milam · License #License(s): MD: 526147, DC: SP101423, VA: 0225 077593
(202) 536-3705
Source:
Marcusmillichap
Added: Apr 8
Changed: Jul 10
Last Checked: Jul 26 at 2:58AM
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 Washington, D.C. Office
Investment Insights
Based on property information with market context.
Located in the U Street Corridor of Washington, D.C., the mixed-use property at 1508 U Street NW features office and retail space. The building is positioned near the intersection of 14th Street and U Street, benefiting from visibility and foot traffic, with access to retail, dining, and entertainment options. Originally constructed in 1900 and renovated in 2020, the Class B building contains approximately 3,576 square feet across four stories. It includes a bi-level office suite and a first-floor retail space, both to be delivered vacant. The property is zoned Mixed-Use (MU-4), allowing for retail, office, and multifamily uses. The layout supports multiple tenancy configurations, with separate access points for the retail and office components. The property is eligible for the Great Streets Grant Program, offering potential funding of up to $80,000 for renovations, equipment, and storefront improvements. The U Street Metro Station is located approximately 0.4 miles away, with access to Farragut North, Shaw-Howard University Station, and Union Station. The property is 6.2 miles from Ronald Reagan Washington National Airport.
Key Highlights
- Prime location in the heart of the U Street Corridor, a vibrant and high‑traffic commercial district in Washington, D.C.
- Mixed‑use property with both office and retail space, offering diverse income potential.
- Delivered vacant, providing immediate lease‑up potential for investors or owner‑occupancy opportunities.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.3k | $45.12 |
| − Vacancy | −$25.8k | −$7.22 |
| EGI | $135.5k | $37.90 |
| − OpEx | −$33.9k | −$9.48 |
| NOI | $101.6k | $28.43 |
3,576 SF · lease $45.12/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,650 @ 7.0% cap · market cap 5.36%
Second Best
Mixed Use
$1.03M
$902.6K – $1.20M
NOI $72,206 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,757 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
BirdWatch
Landscaping
FAQs
What type of property is this?
Mixed-use property - Mixed-use property in vibrant U Street Corridor, Washington, D.C.
Where is this mixed-use property located?
The property is located at 1508 U Street Washington, DC.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Prime location in the heart of the U Street Corridor, a vibrant and high‑traffic commercial district in Washington, D.C.; Mixed‑use property with both office and retail space, offering diverse income potential.; Delivered vacant, providing immediate lease‑up potential for investors or owner‑occupancy opportunities.
