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    Multifamily Apartment Building Title is generated by Realmo AI

    1724 Benning Rd NE, Washington, DC 20002

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    Claim this Listing
    New
    For Sale
    $11,600,000

    Multifamily investment property offered for sale near Hechinger Mall with straightforward access off major NE corridors.

    Property size:
    1,776 SF
    Price / SF:
    $6,531/SF
    Added:
    May 28, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 3 at 2:44 am

    Property Features for 1724 Benning Rd NE

    General Information

    Standard status
    Active
    Size
    1,776 SF

    Building Details

    Year Built
    1941

    We can help!

    Listing Contact
    Kathy Henderson

    Listing agent Kathy Henderson License #BR666695

    Listing office POWER 1 REALTY AND DESIGN GROUP

    Listing date May 28, 2026

    Source Evrealestate

    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 POWER 1 REALTY AND DESIGN GROUP

    HighLights

    • Multifamily investment property for sale near Hechinger Mall (landmark referenced for directions)
    • Year built: 1941
    • Heating type: hot water
    • Directions: off major NE corridors via H Street to Benning Rd and 17th Street NE; properties are on your left

    Overview

    This offering is a multifamily apartment building located at 1724 Benning Rd NE in Washington, DC 20002. The property is presented as a residential income asset and is being marketed for sale, giving investors an opportunity to acquire an apartment building in a well-known commercial area.

    Access is described via H Street to Benning Rd and 17th Street NE, with the properties located on your left. Directions also reference Hechinger Mall as a landmark, which can help drivers orient quickly when approaching the site.

    Given the classification as an apartment building and residential income property, this asset may fit investors seeking to add a multifamily component to their portfolio in Washington, DC. The combination of its established, high-visibility area access and its direct use as an income-producing residential building supports a practical buy-and-hold or active management strategy. Buyers and brokers can review the available specifics during their due diligence to confirm unit configuration and operational parameters appropriate to their investment criteria.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -76.9783598
    Latitude
    38.8995099

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    FAQs

    What type of property is this?
    Apartment building - Multifamily investment property offered for sale near Hechinger Mall with straightforward access off major NE corridors.
    Where is this apartment building located?
    The property is located at 1724 Benning Rd NE Washington, DC.
    What is the asking price?
    The asking price for this property is $11,600,000.
    What are key features of this property?
    This property features: Multifamily investment property for sale near Hechinger Mall (landmark referenced for directions); Year built: 1941; Heating type: hot water
    (202) 556-5823
    We can help!
    Listing Contact
    Kathy Henderson
    Real Estate License ID: BR666695
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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