Benning Road Redevelopment
For Sale
$2,000,000
1822 BENNING ROAD NE, Washington, DC 20002
Mixed-use redevelopment opportunity with existing restaurant space.
Property Size3,096 SF
Days on Market129
Property Features for 1822 BENNING ROAD NE
General Information
Standard status
Active
Size
3,096 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$9,854
Building Details
Building Size
3,096 SF
Year Built
1965
Listing Agency:
Bradford Real Estate Group, LLC
(202) 528-2893
Listed By:
Dwayne C Bradford · License #BR98361773
(202) 528-2893
Source:
Barnesrealestatecompany
Added: Apr 24
Changed: Aug 27
Last Checked: Aug 29 at 4:26PM
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 Bradford Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This property, located at 1822, 1824, and 1826 Benning Road, NE, presents a unique investment opportunity. It currently features a sit-down restaurant space with seating for approximately 20 patrons, along with a separate carry-out section. The site offers a significant redevelopment opportunity under MU-5A zoning, which supports medium-density, compact mixed-use development with a strong emphasis on residential use. This zoning designation is intended to facilitate shopping, business, and housing needs near rapid transit on a primary arterial street outside the central core. The location has a bike score of 98, indicating it is a biker's paradise, a walk score of 81, indicating it is very walkable, and a transit score of 73, indicating excellent transit.
Key Highlights
- Significant redevelopment opportunity with MU‑5A zoning for medium‑density, mixed‑use development.
- Located on a primary arterial street, facilitating shopping, business, and housing needs near rapid transit.
- Existing sit‑down restaurant space with seating for approximately 20 patrons and a separate carry‑out section provides immediate income potential.
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
$79,830
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
3.99%
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%
$1,596,600
$1.6M
Cap Rate 7%
$1,140,429
$1.1M
Cap Rate 9%
$887,000
$887.0K
Market Conditions
NOI Build-Up for 3,096 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
$111.5K $36.00/SF
− Vacancy
−$5.0K −$1.62/SF
EGI
$106.4K $34.38/SF
− OpEx
−$26.6K −$8.59/SF
NOI
$79.8K $25.78/SF
Area
ZIP 20002
Vacancy
4.50%
Lease Rate
$36.00 /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%
$1,596,600
Cap Rate 7%
$1,140,429
Cap Rate 9%
$887,000
Alternative Uses
Best Use
Specialty Retail
$1.14M
$997.9K – $1.33M
NOI $79,830 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,893 @ 7.0% cap · market cap 5.59%
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
170k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Shops & Services 30%
Dining 26%
Safeway
Groceries
43,318 visits/mo
0.2 miles
Aldi
Groceries
31,612 visits/mo
0.2 miles
Chick-fil-A
Dining
27,104 visits/mo
0.5 miles
McDonald's
Dining
15,820 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,092 visits/mo
0.3 miles
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 Retail in Washington, DC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Mixed-use redevelopment opportunity with existing restaurant space.
Where is this conventional restaurant located?
The property is located at 1822 BENNING ROAD NE Washington, DC.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Significant redevelopment opportunity with MU‑5A zoning for medium‑density, mixed‑use development.; Located on a primary arterial street, facilitating shopping, business, and housing needs near rapid transit.; Existing sit‑down restaurant space with seating for approximately 20 patrons and a separate carry‑out section provides immediate income potential.
