Mixed-Use Retail and Residential
1302 PENNSYLVANIA Ave SE Washington, DC 20003
1302 PENNSYLVANIA Ave SE, Washington, DC, 20003
$2,400,000
For Sale
$2,400,000
This mixed-use quadplex includes four 1BD/1BA units above ground-floor neighborhood retail in a recently renovated building.
Property Size4,200 SF
Price / SF$571.43
Days on Market74
Property Features for 1302 PENNSYLVANIA Ave SE
General Information
- Standard status
- Active
- Size
- 4,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1914
Listing agency
Greysteel Company LLC
(202) 280-2722
Listed by
Ari Firoozabadi
(202) 280-2722
Source
Elliman
Added: May 9 Updated: Jul 21 at 2:47AM Checked: Jul 21 at 2:47AM
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 Greysteel Company LLC
Investment Insights
Based on property information with market context.
This mixed-use quadplex includes four residential 1BD/1BA units above established neighborhood retail on the ground floor. The building has been recently gut renovated in 2019, with modernized building systems and finishes intended to reduce near-term capital expenditure needs for new ownership.
Positioned as a signalized corner on Pennsylvania Avenue SE at the intersection with 13th Street SE, the property is designed for visibility with consistent foot and vehicle traffic along a primary Capitol Hill corridor. The retail space is described as anchored by a long-standing convenience store operator, with willingness to execute a new long-term lease at closing.
Residential units are configured as four 1BD/1BA layouts, with the retail level providing a separate income stream within the same 4,200 SF building.
Positioned as a signalized corner on Pennsylvania Avenue SE at the intersection with 13th Street SE, the property is designed for visibility with consistent foot and vehicle traffic along a primary Capitol Hill corridor. The retail space is described as anchored by a long-standing convenience store operator, with willingness to execute a new long-term lease at closing.
Residential units are configured as four 1BD/1BA layouts, with the retail level providing a separate income stream within the same 4,200 SF building.
Key Highlights
- 4,200 SF mixed‑use building (built 1914) with four 1BD/1BA residential units above ground‑floor retail
- 100% occupied; retail tenant is a long‑standing convenience store operator with willingness to execute a new long‑term lease at closing
- Ground‑floor retail sits at a signalized corner on Pennsylvania Ave SE at 13th St SE
Local Financial Insights For Specialty Retail
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 | $26.40 |
| − Vacancy | −$3.9k | −$0.92 |
| EGI | $107.0k | $25.48 |
| − OpEx | −$26.7k | −$6.37 |
| NOI | $80.2k | $19.11 |
4,200 SF · lease $26.40/SF/yr · vacancy 3.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,249 @ 7.0% cap · market cap 3.34%
Second Best
Multifamily LT 5
$1.08M
$940.7K – $1.25M
NOI $75,252 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,224 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Potomac Tobacco Mini ...
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - This mixed-use quadplex includes four 1BD/1BA units above ground-floor neighborhood retail in a recently renovated building.
Where is this quadplex located?
The property is located at 1302 PENNSYLVANIA Ave SE Washington, DC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 4,200 SF mixed‑use building (built 1914) with four 1BD/1BA residential units above ground‑floor retail; 100% occupied; retail tenant is a long‑standing convenience store operator with willingness to execute a new long‑term lease at closing; Ground‑floor retail sits at a signalized corner on Pennsylvania Ave SE at 13th St SE
