Three-Level Triplex Renovation
For Sale
$824,900
1717 U STREET NW, Washington, DC 20009
RA-2-zoned building offered as-is after interior demolition, requiring complete renovation before occupancy.
Property Size2,881 SF
Price / SF$286.32
Days on Market12
Property Features for 1717 U STREET NW
General Information
Standard status
Active
Size
2,881 SF
Property subtype
Triplex
Zoning
RA-2
Property Condition
Severity
Major Repairs Needed
Evidence
gutted
Additional Details
Public Transit
Yes
Building Details
Year Built
1910
Buildings
1
Stories
3
Listing Agency:
Realty ONE Group Capital
(571) 620-9281
Listed By:
CHANTAL WINSTEAD · License #5009406
(571) 620-9281
Source:
Cummingsrealtors
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 11:40AM
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 Realty ONE Group Capital
Investment Insights
Based on property information with market context.
Located at 1717 U St NW in Washington, DC, this three-level property was previously arranged as three units and now requires a full renovation. Finished interior elements, including walls, flooring, kitchens, and bathrooms, have been removed, leaving the building in a stripped condition. Built in 1910, the property is not currently habitable and is being conveyed strictly as-is.
The site is in the U Street Corridor, with restaurants, nightlife, shops, and Metro access nearby. Dupont Circle, Adams Morgan, and Logan Circle are also identified as nearby areas. The property carries RA-2 zoning. Buyers must independently confirm the legal unit count, Certificate of Occupancy, square footage, permits, utilities, zoning parameters, and feasibility of any proposed work or use.
The site is in the U Street Corridor, with restaurants, nightlife, shops, and Metro access nearby. Dupont Circle, Adams Morgan, and Logan Circle are also identified as nearby areas. The property carries RA-2 zoning. Buyers must independently confirm the legal unit count, Certificate of Occupancy, square footage, permits, utilities, zoning parameters, and feasibility of any proposed work or use.
Key Highlights
- Previously configured as a three‑unit property
- Three‑level building built in 1910
- Interior stripped of finished walls, flooring, kitchens, and bathrooms
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
$62,891
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
7.62%
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%
$1,257,820
$1.3M
Cap Rate 7%
$898,443
$898.4K
Cap Rate 9%
$698,789
$698.8K
Market Conditions
NOI Build-Up for 2,881 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
$95.1K $33.00/SF
− Vacancy
−$5.2K −$1.82/SF
EGI
$89.8K $31.19/SF
− OpEx
−$27.0K −$9.36/SF
NOI
$62.9K $21.83/SF
Area
ZIP 20009
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,257,820
Cap Rate 7%
$898,443
Cap Rate 9%
$698,789
Alternative Uses
Best Use
Multifamily LT 5
$898.4K
$786.1K – $1.05M
NOI $62,891 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$800.9K
$700.8K – $934.4K
NOI $56,064 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,733 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,652
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - RA-2-zoned building offered as-is after interior demolition, requiring complete renovation before occupancy.
Where is this triplex located?
The property is located at 1717 U STREET NW Washington, DC.
What is the asking price?
The asking price for this property is $824,900.
What are key features of this property?
This property features: Previously configured as a three‑unit property; Three‑level building built in 1910; Interior stripped of finished walls, flooring, kitchens, and bathrooms
