Four-Level Mixed-Use
For Sale
$1,350,000
1346 T STREET NW, Washington, DC 20009
Fully leased property combines a cafe/bar tenancy with a one-bedroom, one-bath residential apartment.
Property Size2,746 SF
Days on Market14
Property Features for 1346 T STREET NW
General Information
Standard status
Active
Size
2,746 SF
Property subtype
Mixed Use
Zoning
RTS-3
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$21,753
Building Details
Building Size
2,746 SF
Year Built
1910
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Long & Foster Real Estate, Inc.
(240) 602-5346
Listed By:
Ashley Brooks
(240) 602-5346
Source:
Barnesrealestatecompany
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 11 at 12:31PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This four-level mixed-use property at 1346 T Street NW is fully leased and occupied by a cafe/bar tenant that has operated at the location since 2013. The existing lease has approximately five years remaining and includes 3% annual rental increases. Built in 1910, the property includes a third-level one-bedroom, one-bath residential apartment, while the second level offers potential for conversion to an additional unit subject to buyer due diligence, zoning requirements, and necessary approvals.
The property is located within the Greater U Street Historic District, steps from the U Street corridor and near restaurants, entertainment venues, and neighborhood amenities. It is positioned within the RTS-3 zoning district, which is intended to permit medium-density, mixed-use development with a focus on employment uses.
The property is located within the Greater U Street Historic District, steps from the U Street corridor and near restaurants, entertainment venues, and neighborhood amenities. It is positioned within the RTS-3 zoning district, which is intended to permit medium-density, mixed-use development with a focus on employment uses.
Key Highlights
- Four‑level mixed‑use property at 1346 T STREET NW, WASHINGTON, DC 20009
- Cafe/bar tenant has operated at the location since 2013
- Existing lease has approximately five years remaining with 3% annual rental increases
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
$55,447
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
4.11%
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%
$1,108,940
$1.1M
Cap Rate 7%
$792,100
$792.1K
Cap Rate 9%
$616,078
$616.1K
Market Conditions
NOI Build-Up for 2,746 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
$96.2K $35.04/SF
− Vacancy
−$7.5K −$2.73/SF
EGI
$88.7K $32.31/SF
− OpEx
−$33.3K −$12.12/SF
NOI
$55.4K $20.19/SF
Area
ZIP 20009
Vacancy
7.80%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
37.50%
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%
$1,108,940
Cap Rate 7%
$792,100
Cap Rate 9%
$616,078
Alternative Uses
Best Use
Mixed Use
$792.1K
$693.1K – $924.1K
NOI $55,447 @ 7.0% cap · market cap 4.11%
Second Best
Specialty Retail
$764.2K
$668.7K – $891.6K
NOI $53,493 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,872 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,109
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 24%
Home Improvements & Furnishings 12%
Hotels & Casinos 6%
McDonald's
Dining
19,704 visits/mo
0.2 miles
Whole Foods Market
Groceries
16,933 visits/mo
0.4 miles
Starbucks
Dining
7,495 visits/mo
0.3 miles
Logan Hardware
Home Improvements & Furnishings
5,986 visits/mo
0.1 miles
Jeni's Splendid Ice Creams
Dining
4,634 visits/mo
0.1 miles
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased property combines a cafe/bar tenancy with a one-bedroom, one-bath residential apartment.
Where is this mixed-use property located?
The property is located at 1346 T STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑level mixed‑use property at 1346 T STREET NW, WASHINGTON, DC 20009; Cafe/bar tenant has operated at the location since 2013; Existing lease has approximately five years remaining with 3% annual rental increases
