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Building Details

Building Size 1,287 SF

Year Built 1912

Listing Agency: Long & Foster Real Estate, Inc.

Listed By: Konjit Arega · License #0225161693 Show Phone

Source: Kerishull

Added: May 19 Changed: Oct 8 Last Checked: Oct 15 at 5:16AM

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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 mixed-use property presents a prime investment opportunity with flexible zoning, suitable for conversion into apartments, creation of a live/work space, or a combination of professional and residential uses. The property is positioned for redevelopment or a variety of business ventures. Located less than a mile from both Metro and bus stations, it offers accessibility for tenants, clients, and customers. Easy street parking is available. The location has a bike score of 95, indicating it is a biker's paradise, a walk score of 88, indicating it is very walkable, and a transit score of 70, indicating excellent transit options. This property offers flexibility and investment potential for expanding a portfolio, establishing a business presence, or redeveloping for mixed residential use.

Key Highlights

• Flexible mixed‑use zoning allows for apartments, live/work space, or combined professional/residential uses.
• Excellent transit score (70) and proximity (less than a mile) to Metro and bus stations.
• Strong appeal for tenants, clients, and customers due to outstanding accessibility.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,865

Cap Rate

5.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,300 $817.3K

Cap Rate 7%

$583,786 $583.8K

Cap Rate 9%

$454,056 $454.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,287 SF

Gross rent

$64.9K $50.40/SF

− Vacancy

−$10.4K −$8.06/SF

EGI

$54.5K $42.34/SF

− OpEx

−$13.6K −$10.58/SF

NOI

$40.9K $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 Rate 5%

$817,300

Cap Rate 7%

$583,786

Cap Rate 9%

$454,056

Alternative Uses

Best Use

Office B

$583.8K

$510.8K – $681.1K (±1% cap)

NOI $40,865 @ 7.0% cap · market cap 5.11%

Second Best

Mixed Use

$303.4K

$265.5K – $353.9K (±1% cap)

NOI $21,236 @ 7.0% cap · market cap 2.65%

Theoretical Best

Office A

$662.0K

$579.2K – $772.3K (±1% cap)

NOI $46,339 @ 7.0% cap · market cap 5.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Live-work space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Nursing Home Veterinary Clinic Furniture & Home Goods Tattoo & Piercing Shop Arcade & Gaming Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,923

Businesses Nearby

Explore this area Business Placement

Demographics for 20001, DC

49,040

Population

26,728

Households

1.8

Avg Household Size

32

Median Age

78%

College-Educated

95%

High-School Grad

2.0 sq mi

ZIP Area

24,520

Density / Sq Mi

$138,730

Median Household Income

$94,675

Median Earnings

$2,464

Median Rent

$844,500

Median Home Value

Market

Vacancy Rate% for Office in Washington, DC

14.8% 2019

17% 2020

18.1% 2021

19.5% 2022

20.7% 2023

21.9% 2024

22.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible mixed-use property near transportation with redevelopment potential.

Where is this mixed-use property located?

The property is located at 141 FLORIDA AVENUE NW Washington, DC.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Flexible mixed‑use zoning allows for apartments, live/work space, or combined professional/residential uses.; Excellent transit score (70) and proximity (less than a mile) to Metro and bus stations.; Strong appeal for tenants, clients, and customers due to outstanding accessibility.