Turn-Key Mixed-Use Investment
For Sale
$2,349,900
1451 MARYLAND AVENUE NE, Washington, DC 20002
Fully renovated mixed-use property with stable income in growing DC area.
Property Size4,400 SF
Price / SF$534.07
Days on Market122
Property Features for 1451 MARYLAND AVENUE NE
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$29,963
Building Details
Building Size
4,400 SF
Year Built
1900
Listing Agency:
TTR Sotheby's International Realty
(202) 938-3685
Listed By:
Daniel M Heider · License #SP98372854
(202) 938-3685
Source:
Kerishull
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 7:31AM
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 TTR Sotheby's International Realty
Investment Insights
Based on property information with market context.
This mixed-use property is located in Northeast DC's Starburst Intersection, near the upcoming RFK Stadium redevelopment. The fully renovated asset, modernized in 2021, offers stable, long-term income. The ground floor is occupied by Daru, an Indian-Nepalese restaurant with a Triple Net lease until 4/1/2031. The restaurant maintains its space, covers 61.5% of property taxes and insurance, and funds trash services. Daru has expanded operations with a covered outdoor dining area and opened a second location nearby. Above the restaurant, the residential penthouse is leased until 5/1/2026. The open-concept loft features wide plank white oak floors, a hexagonal sunroom, JennAir appliances, spa-inspired baths, and two private outdoor terraces. The property underwent a $1M modernization in 2021, including new MEP systems, basement excavation for a commercial kitchen, a top-floor penthouse addition, new windows, a reimagined storefront, and two rooftop decks. Both units pay their own utilities. The property has a bike score of 98, a walk score of 81, and a transit score of 73.
Key Highlights
- Prime location in Northeast DC's rapidly growing Starburst Intersection, near the $3.7 billion RFK Stadium redevelopment project.
- Turn‑key, mixed‑use investment property generating $156,935 in annual NOI with stable, long‑term income.**
- Anchored by Daru, a Michelin Bib Gourmand‑awarded restaurant with a Triple Net lease until 4/1/2031, covering a significant portion of property expenses.**
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
$113,454
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
4.83%
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%
$2,269,080
$2.3M
Cap Rate 7%
$1,620,771
$1.6M
Cap Rate 9%
$1,260,600
$1.3M
Market Conditions
NOI Build-Up for 4,400 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
$158.4K $36.00/SF
− Vacancy
−$7.1K −$1.62/SF
EGI
$151.3K $34.38/SF
− OpEx
−$37.8K −$8.59/SF
NOI
$113.5K $25.78/SF
Area
ZIP 20002
Vacancy
4.50%
Lease Rate
$36.00 /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%
$2,269,080
Cap Rate 7%
$1,620,771
Cap Rate 9%
$1,260,600
Alternative Uses
Best Use
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,454 @ 7.0% cap · market cap 4.83%
Second Best
Mixed Use
$1.14M
$997.4K – $1.33M
NOI $79,794 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $159,021 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
159k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 47%
Dining 30%
Shops & Services 22%
Electronics 1%
Safeway
Groceries
43,318 visits/mo
0.2 miles
Aldi
Groceries
31,612 visits/mo
0.3 miles
Chick-fil-A
Dining
27,104 visits/mo
0.1 miles
McDonald's
Dining
15,820 visits/mo
0.2 miles
Shell
Shops & Services
9,385 visits/mo
0.5 miles
Demographics for 20002, DC
69,422
Population
38,459
Households
1.8
Avg Household Size
33
Median Age
70%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
13,612
Density / Sq Mi
$114,482
Median Household Income
$82,909
Median Earnings
$2,140
Median Rent
$813,700
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 renovated mixed-use property with stable income in growing DC area.
Where is this mixed-use property located?
The property is located at 1451 MARYLAND AVENUE NE Washington, DC.
What is the asking price?
The asking price for this property is $2,349,900.
What are key features of this property?
This property features: Prime location in Northeast DC's rapidly growing Starburst Intersection, near the $3.7 billion RFK Stadium redevelopment project.; Turn‑key, mixed‑use investment property generating $156,935 in annual NOI with stable, long‑term income.**; Anchored by Daru, a Michelin Bib Gourmand‑awarded restaurant with a Triple Net lease until 4/1/2031, covering a significant portion of property expenses.**
