Georgetown Mixed-Use Investment
For Sale
Contact for pricing
1658 33rd St NW, Washington, DC 20007
Mixed-use property with retail and residential units in Georgetown.
Property Size2,924 SF
Price / SF$540.66
Days on Market709
Property Features for 1658 33rd St NW
General Information
Standard status
Active
Size
2,924 SF
Class
C
Property subtype
Mixed Use, Retail
Zoning
MU-4
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1917
Year Renovated
2011
Buildings
1
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Terring Wang Group
Listed By:
Terring Wang · License #md639378
Source:
Crexi
Added: Sep 3, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:51PM
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 Terring Wang Group
Investment Insights
Based on property information with market context.
This 2924 square foot mixed-use property is located in Georgetown. The property features a ground-floor retail space, currently leased to Coco Spa through November 30th, 2024, providing a rental income stream. The upper floors contain a residential apartment. Recent property enhancements have been made. The property is located in Georgetown's rental market, offering potential for long-term value appreciation. This property combines rental income with the potential for future growth.
Key Highlights
- Prime Georgetown location ensures consistent tenant demand.
- Ground‑floor retail space leased to Coco Spa through November 30th, 2024, providing immediate rental income.
- Upscale, meticulously maintained residential apartment on upper floors attracts high‑quality tenants.
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
$48,584
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
3.07%
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%
$971,680
$971.7K
Cap Rate 7%
$694,057
$694.1K
Cap Rate 9%
$539,822
$539.8K
Market Conditions
NOI Build-Up for 2,924 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
$93.0K $31.80/SF
− Vacancy
−$4.6K −$1.59/SF
EGI
$88.3K $30.21/SF
− OpEx
−$39.8K −$13.59/SF
NOI
$48.6K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$971,680
Cap Rate 7%
$694,057
Cap Rate 9%
$539,822
Alternative Uses
Best Use
Apartment 5plus
$694.1K
$607.3K – $809.7K
NOI $48,584 @ 7.0% cap · market cap 3.07%
Second Best
Mixed Use
$689.2K
$603.1K – $804.1K
NOI $48,246 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,281 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,864
Businesses Nearby
143k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Dining 20%
Apparel 18%
Groceries 16%
Trader Joe's
Groceries
22,355 visits/mo
0.4 miles
Sephora
Beauty & Spa
15,722 visits/mo
0.5 miles
Bank of America
Shops & Services
11,953 visits/mo
0.4 miles
Starbucks
Dining
10,187 visits/mo
0.5 miles
Exxon
Shops & Services
8,916 visits/mo
0.2 miles
Demographics for 20007, DC
26,827
Population
13,583
Households
2
Avg Household Size
35
Median Age
87%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
8,654
Density / Sq Mi
$142,783
Median Household Income
$93,107
Median Earnings
$2,066
Median Rent
$1,202,900
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 - Mixed-use property with retail and residential units in Georgetown.
Where is this mixed-use property located?
The property is located at 1658 33rd St NW Washington, DC.
What is the asking price?
The asking price for this property is $1,580,900.
What are key features of this property?
This property features: Prime Georgetown location ensures consistent tenant demand.; Ground‑floor retail space leased to Coco Spa through November 30th, 2024, providing immediate rental income.; Upscale, meticulously maintained residential apartment on upper floors attracts high‑quality tenants.
