Mixed-Use Retail and Residential
For Sale
$2,400,000
1302 Pennsylvania Ave SE, Washington, DC 20003
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 Market173
Property Features for 1302 Pennsylvania Ave SE
General Information
Standard status
Active
Size
4,200 SF
Occupancy
100%
Site & Location
Neighborhood
Southeast
Additional Details
Multifamily Units
4
Building Details
Year Built
1914
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Greysteel Company LLC
Listed By:
Ari Firoozabadi · License #0225081719
(704) 274-1830
Source:
Tbhteam
Added: May 9
Changed: Oct 26
Last Checked: Oct 7 at 5:41PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,249
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,604,980
$1.6M
Cap Rate 7%
$1,146,414
$1.1M
Cap Rate 9%
$891,656
$891.7K
Market Conditions
NOI Build-Up for 4,200 SF
Gross rent
$110.9K $26.40/SF
− Vacancy
−$3.9K −$0.92/SF
EGI
$107.0K $25.48/SF
− OpEx
−$26.7K −$6.37/SF
NOI
$80.2K $19.11/SF
Area
Washington, DC
Vacancy
3.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,604,980
Cap Rate 7%
$1,146,414
Cap Rate 9%
$891,656
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 authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,870
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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
