Four-Level Executive Office
For Sale
$2,300,000
1230 17TH Street NW, Washington, DC 20036
Renovated executive office building with rooftop terrace, each floor featuring a half bath for flexible tenant use.
Property Size5,220 SF
Price / SF$440.61
Days on Market1120
Property Features for 1230 17TH Street NW
General Information
Standard status
Active
Size
5,220 SF
Property subtype
Commercial
Building Details
Year Built
1900
Year Renovated
2014
Stories
4
Listing Agency:
TTR Sothebys International Realty
Listed By:
Deborah D Fonseca
(202) 996-4300
Source:
Ournexthouse
Added: Jul 31, 2023
Changed: Aug 22
Last Checked: Aug 22 at 9:47AM
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 TTR Sothebys International Realty
Investment Insights
Based on property information with market context.
This four-level office building is currently configured as executive office space and was renovated in 2014. The property totals 5,220 square feet and includes one half bath on each floor, supporting efficient day-to-day use across multiple levels. A small rooftop terrace adds an outdoor area for occupants or visitors.
Set on a peaceful street in the DuPont Circle area, the building is zoned for mixed use. It is approximately two blocks from the Metro, providing nearby transit access, and the surrounding area includes restaurants, retail, and cultural attractions.
For owner-occupants, the current office configuration offers an immediately usable layout for professional teams. For investors or operators, the mixed-use zoning provides flexibility for adapting the space to alternative uses consistent with local zoning requirements, while the multi-level structure and in-unit half baths help support a variety of office-focused occupancy plans.
Set on a peaceful street in the DuPont Circle area, the building is zoned for mixed use. It is approximately two blocks from the Metro, providing nearby transit access, and the surrounding area includes restaurants, retail, and cultural attractions.
For owner-occupants, the current office configuration offers an immediately usable layout for professional teams. For investors or operators, the mixed-use zoning provides flexibility for adapting the space to alternative uses consistent with local zoning requirements, while the multi-level structure and in-unit half baths help support a variety of office-focused occupancy plans.
Key Highlights
- Renovated in 2014, 4‑level building currently configured as executive office space
- Approximately 5,220 SF across 4 levels with a half bath on each floor
- Zoned for mixed use and currently set up for office use—suited for owner‑occupant or flexible‑use plans
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$165,745
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,314,900
$3.3M
Cap Rate 7%
$2,367,786
$2.4M
Cap Rate 9%
$1,841,611
$1.8M
Market Conditions
NOI Build-Up for 5,220 SF
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.
Gross rent
$263.1K $50.40/SF
− Vacancy
−$42.1K −$8.06/SF
EGI
$221.0K $42.34/SF
− OpEx
−$55.2K −$10.58/SF
NOI
$165.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,314,900
Cap Rate 7%
$2,367,786
Cap Rate 9%
$1,841,611
Alternative Uses
Best Use
Office B
$2.37M
$2.07M – $2.76M
NOI $165,745 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,950 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
27,615
Businesses Nearby
Explore this area
Business Placement
Demographics for 20036, DC
6,109
Population
4,383
Households
1.4
Avg Household Size
33
Median Age
95%
College-Educated
100%
High-School Grad
0.3 sq mi
ZIP Area
20,363
Density / Sq Mi
$105,800
Median Household Income
$98,527
Median Earnings
$2,301
Median Rent
$442,400
Median Home Value
Market
Vacancy Rate% for Office in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated executive office building with rooftop terrace, each floor featuring a half bath for flexible tenant use.
Where is this office building located?
The property is located at 1230 17TH Street NW Washington, DC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Renovated in 2014, 4‑level building currently configured as executive office space; Approximately 5,220 SF across 4 levels with a half bath on each floor; Zoned for mixed use and currently set up for office use—suited for owner‑occupant or flexible‑use plans
