Three-Unit Office
For Sale
$949,900
1235 Pennsylvania Ave SE, Washington, DC 20003
Three-unit office building with two upper floors available and a leased lower level.
Property Size2,200 SF
Price / SF$431.77
Days on Market11
Property Features for 1235 Pennsylvania Ave SE
General Information
Standard status
Active
Size
2,200 SF
Additional Details
Office Units
3
Building Details
Year Built
2025
Listing Agency:
EXP Realty, LLC
(202) 379-5868
Listed By:
Michael A Hines · License #SP98365254
Source:
Kandorre
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 29 at 9:01AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This charming three-unit office building offers a flexible split-configuration with two floors currently vacant and ready for occupancy, while the lower level is presently leased. The property is set up as small office spaces, making it a practical fit for tenants seeking dedicated, self-contained areas within a compact building.
Located at 1235 Pennsylvania Ave SE in Washington, DC, the building is offered for sale or lease. As presented, the current leasing arrangement provides an in-place lower-level tenant position, with additional office space available on the 1st and 2nd floors.
Located at 1235 Pennsylvania Ave SE in Washington, DC, the building is offered for sale or lease. As presented, the current leasing arrangement provides an in-place lower-level tenant position, with additional office space available on the 1st and 2nd floors.
Key Highlights
- Three‑unit office building with two floors available and the lower level currently leased
- Lower level leased for $3,100,000
- 1st and 2nd floors available for $6,100.00 NNN
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 | $110.9k | $50.40 |
| − Vacancy | −$17.7k | −$8.06 |
| EGI | $93.1k | $42.34 |
| − OpEx | −$23.3k | −$10.58 |
| NOI | $69.9k | $31.75 |
2,200 SF · lease $50.40/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$997.9K
$873.2K – $1.16M
NOI $69,854 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,213 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
2,870
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
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 units - Three-unit office building with two upper floors available and a leased lower level.
Where is this office units located?
The property is located at 1235 Pennsylvania Ave SE Washington, DC.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three‑unit office building with two floors available and the lower level currently leased; Lower level leased for $3,100,000; 1st and 2nd floors available for $6,100.00 NNN
