Four-Level Medical Office
For Sale
Contact for pricing
1809 Benning Road Northeast, Washington, DC 20002
Vacant building with exam room space and upper-floor offices, plus rear alley access for on-site parking.
Property Size2,912 SF
Price / SF$250.69
Days on Market74
Property Features for 1809 Benning Road Northeast
General Information
Standard status
Active
Size
2,912 SF
Property subtype
Office
Zoning
MU-5A (IZ+)
Building Details
Year Built
1911
Year Renovated
2020
Buildings
1
Stories
4
Tenancy
Single
Listing Agency:
Feldman Ruel
Listed By:
Brandon Shure · License #MD
Source:
Crexi
Added: Jun 10
Changed: Aug 15
Last Checked: Aug 22 at 1:02PM
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 Feldman Ruel
Investment Insights
Based on property information with market context.
1809 Benning Road NE presents a vacant, four-level medical office building designed to support both clinical and administrative functions. The first two levels include five exam rooms along with a reception and waiting area, creating a layout that can support immediate medical occupancy while remaining flexible for alternative uses. The upper two levels are configured as traditional office space, suitable for administrative operations, additional tenancy, or future reconfiguration.
The property sits on a lot with rear access from an alley that runs parallel to Benning Road NE. This alley access provides an option for parking multiple vehicles on-site, supporting day-to-day operations and convenient access for staff and visitors.
Zoned MU-5A (IZ+), the site is positioned for multifamily development, with the offering remarks noting potential density for a multifamily project that could exceed 6,000 total square feet, more than doubling the building’s current gross area. For an owner-user, the current configuration offers a straightforward medical office setup; for investors, the combination of immediate space utility and redevelopment optionality may appeal to those planning a longer-term strategy.
The property sits on a lot with rear access from an alley that runs parallel to Benning Road NE. This alley access provides an option for parking multiple vehicles on-site, supporting day-to-day operations and convenient access for staff and visitors.
Zoned MU-5A (IZ+), the site is positioned for multifamily development, with the offering remarks noting potential density for a multifamily project that could exceed 6,000 total square feet, more than doubling the building’s current gross area. For an owner-user, the current configuration offers a straightforward medical office setup; for investors, the combination of immediate space utility and redevelopment optionality may appeal to those planning a longer-term strategy.
Key Highlights
- Vacant four‑level medical office building built in 1911
- First two levels include five exam rooms plus reception and waiting area for immediate medical occupancy
- Upper two levels provide traditional office space for administrative use, additional tenancy, or reconfiguration
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
$56,850
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
7.79%
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%
$1,137,000
$1.1M
Cap Rate 7%
$812,143
$812.1K
Cap Rate 9%
$631,667
$631.7K
Market Conditions
NOI Build-Up for 2,912 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
$101.3K $34.80/SF
− Vacancy
−$6.6K −$2.26/SF
EGI
$94.8K $32.54/SF
− OpEx
−$37.9K −$13.02/SF
NOI
$56.9K $19.52/SF
Area
ZIP 20002
Vacancy
6.50%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
40.00%
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%
$1,137,000
Cap Rate 7%
$812,143
Cap Rate 9%
$631,667
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $97,142 @ 7.0% cap · market cap 13.31%
Second Best
Healthcare Medical
$812.1K
$710.6K – $947.5K
NOI $56,850 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,243 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Washington, DC
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant building with exam room space and upper-floor offices, plus rear alley access for on-site parking.
Where is this medical office space located?
The property is located at 1809 Benning Road Northeast Washington, DC.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Vacant four‑level medical office building built in 1911; First two levels include five exam rooms plus reception and waiting area for immediate medical occupancy; Upper two levels provide traditional office space for administrative use, additional tenancy, or reconfiguration
