Mixed-Use Investment
For Sale
$849,900
141 FLORIDA AVENUE NW, Washington, DC 20001
Flexible mixed-use property near transportation with redevelopment potential.
Property Size1,287 SF
Price / SF$660.37
Days on Market98
Property Features for 141 FLORIDA AVENUE NW
General Information
Standard status
Active
Size
1,287 SF
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$14,291
Building Details
Building Size
1,287 SF
Year Built
1912
Listing Agency:
Long & Foster Real Estate, Inc.
(703) 608-3106
Listed By:
Konjit Arega
(703) 608-3106
Source:
Kerishull
Added: May 19
Changed: Aug 23
Last Checked: Aug 23 at 6:56AM
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 = 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
$40,865
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
4.81%
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%
$817,300
$817.3K
Cap Rate 7%
$583,786
$583.8K
Cap Rate 9%
$454,056
$454.1K
Market Conditions
NOI Build-Up for 1,287 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
$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 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%
$817,300
Cap Rate 7%
$583,786
Cap Rate 9%
$454,056
Alternative Uses
Best Use
Office B
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 4.81%
Second Best
Mixed Use
$303.4K
$265.5K – $353.9K
NOI $21,236 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$662.0K
$579.2K – $772.3K
NOI $46,339 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $849,900.
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.
