Corner Triplex with Retail
For Sale
$1,480,000
1500 OGDEN Street NW, Washington, DC 20010
MULTI_FAMILY - Contemporary - WASHINGTON, DC
Property Size3,500 SF
Lot Size0.05 Acres
Price / SF$422.86
Days on Market94
Property Features for 1500 OGDEN Street NW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
On Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
3,500 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9831
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
washer & dryer in unit
separate electric
secured gate entrance
enclosed rear patio
carbon monoxide detector
smoke detector
new windows
new HVAC units
Building Details
Year built
1922
Number of units
3
Building materials
Brick
Architectural style
Contemporary
Listing Agency:
Fairfax Realty
(703) 766-2710
Listed By:
Kevin B Shin · License #0225069693
(703) 395-3123
Added: May 11
Changed: Jul 28
Last Checked: Aug 12 at 2:06PM
MLS# DCDC2261184
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1500 Ogden Street NW is a brick contemporary corner triplex with a mixed-use layout that includes one retail/convenience store and two residential apartment units. The second and third levels are vacant, and the building features a secured gate entrance and an enclosed rear patio. Residential units are described as three-bedroom, three-bath configurations with washer and dryer in each unit, along with separate electric.
The property includes forced air heating and central air cooling. Recent upgrades noted include new windows and new HVAC units, and the building has a sprinkler system plus smoke and carbon monoxide detectors. The offering also includes an additional 600 SF rectangular adjacent vacant lot that could support off-street parking. Parking is listed as on-street.
The building was constructed in 1922 and is sited on a 0.0516-acre lot. The residential unit sizes are described as ranging from 1,000 to 1,250 SF each. Seller financing is available, and the property is noted as having no TOPA/DOPA.
The property includes forced air heating and central air cooling. Recent upgrades noted include new windows and new HVAC units, and the building has a sprinkler system plus smoke and carbon monoxide detectors. The offering also includes an additional 600 SF rectangular adjacent vacant lot that could support off-street parking. Parking is listed as on-street.
The building was constructed in 1922 and is sited on a 0.0516-acre lot. The residential unit sizes are described as ranging from 1,000 to 1,250 SF each. Seller financing is available, and the property is noted as having no TOPA/DOPA.
Key Highlights
- Corner triplex with one retail/convenience unit and two vacant residential apartment units
- Residential units described as 3‑bedroom, 3‑bath with in‑unit washer and dryer and separate electric
- Recent updates include new windows and new HVAC units; sprinkler system plus smoke and carbon monoxide detectors
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
$66,875
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
4.52%
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%
$1,337,500
$1.3M
Cap Rate 7%
$955,357
$955.4K
Cap Rate 9%
$743,056
$743.1K
Market Conditions
NOI Build-Up for 3,500 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
$92.4K $26.40/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$89.2K $25.48/SF
− OpEx
−$22.3K −$6.37/SF
NOI
$66.9K $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 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%
$1,337,500
Cap Rate 7%
$955,357
Cap Rate 9%
$743,056
Alternative Uses
Best Use
Specialty Retail
$955.4K
$835.9K – $1.11M
NOI $66,875 @ 7.0% cap · market cap 4.52%
Second Best
Multifamily LT 5
$895.9K
$783.9K – $1.05M
NOI $62,710 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,020 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Corner mixed-use triplex with one retail/convenience unit and two vacant residential apartments, updated with new HVAC and windows.
Where is this triplex located?
The property is located at 1500 OGDEN Street NW Washington, DC.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Corner triplex with one retail/convenience unit and two vacant residential apartment units; Residential units described as 3‑bedroom, 3‑bath with in‑unit washer and dryer and separate electric; Recent updates include new windows and new HVAC units; sprinkler system plus smoke and carbon monoxide detectors
