Renovated Office Building in
For Sale
$1,600,000
1809 RHODE ISLAND AVENUE NE, Washington, DC 20018
Extensively renovated office space in a thriving corridor.
Property Size2,340 SF
Price / SF$683.76
Days on Market157
Property Features for 1809 RHODE ISLAND AVENUE NE
General Information
Standard status
Active
Size
2,340 SF
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$10,388
Building Details
Building Size
2,340 SF
Year Built
1925
Listing Agency:
Taylor Properties
Listed By:
Chanel Davis · License #sp200200646
(443) 721-4436
Source:
Kerishull
Added: Mar 30
Changed: Aug 28
Last Checked: Sep 2 at 2:22AM
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 Taylor Properties
Investment Insights
Based on property information with market context.
This extensively renovated commercial property, located in the Brookland/Woodridge corridor, offers approximately 4,400 sq. ft. of modern workspace. The building combines professional functionality with a contemporary aesthetic. The first floor features a reception area, six private offices, a central meeting/open area, and a conference room. The second floor includes three additional offices and a bathroom. The fully renovated basement provides additional square footage suitable for storage, a breakroom, or expanded operational needs.
Key Highlights
- Extensively renovated, modern workspace totaling approximately 4,400 sq. ft.
- Located in the thriving Brookland/Woodridge corridor.
- Features six private offices and a conference room on the main level.
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
$74,300
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
4.64%
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%
$1,486,000
$1.5M
Cap Rate 7%
$1,061,429
$1.1M
Cap Rate 9%
$825,556
$825.6K
Market Conditions
NOI Build-Up for 2,340 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
$117.9K $50.40/SF
− Vacancy
−$18.9K −$8.06/SF
EGI
$99.1K $42.34/SF
− OpEx
−$24.8K −$10.58/SF
NOI
$74.3K $31.75/SF
Area
Washington, DC
Vacancy
16.00%
Lease Rate
$50.40 /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%
$1,486,000
Cap Rate 7%
$1,061,429
Cap Rate 9%
$825,556
Alternative Uses
Best Use
Office B
$1.06M
$928.8K – $1.24M
NOI $74,300 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,253 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Explore this area
Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
Median Home Value
Market
Vacancy Rate% for Office in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Extensively renovated office space in a thriving corridor.
Where is this office building located?
The property is located at 1809 RHODE ISLAND AVENUE NE Washington, DC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Extensively renovated, modern workspace totaling approximately 4,400 sq. ft.; Located in the thriving Brookland/Woodridge corridor.; Features six private offices and a conference room on the main level.
