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1827 Wiltberger St NW, Washington, DC 20001
Mixed-use properties
Property Size33,897 SF
Price / SF$289.11
Days on Market543
Property Features for 1827 Wiltberger St NW
General Information
Standard status
Active
Size
33,897 SF
Class
A
Property subtype
Retail, Office, Hospitality, Mixed Use
Investment Type
Owner/User
Building Details
Year Built
2021
Stories
2
Listing Agency:
Feldman Ruel
Listed By:
Josh Feldman · License #DC BR200201416
Source:
Crexi
Added: Feb 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 11:22AM
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 Feldman Ruel
Investment Insights
Based on property information with market context.
Key Highlights
- Entire second and third levels of the building are available.
- Part of the historic adaptive reuse of the Holzbeierlein Bakery building.
- Commercial condominium units.
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
$559,301
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
5.71%
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%
$11,186,020
$11.2M
Cap Rate 7%
$7,990,014
$8.0M
Cap Rate 9%
$6,214,456
$6.2M
Market Conditions
NOI Build-Up for 33,897 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
$1.02M $30.00/SF
− Vacancy
−$122.0K −$3.60/SF
EGI
$894.9K $26.40/SF
− OpEx
−$335.6K −$9.90/SF
NOI
$559.3K $16.50/SF
Area
Washington, DC
Vacancy
12.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$11,186,020
Cap Rate 7%
$7,990,014
Cap Rate 9%
$6,214,456
Alternative Uses
Best Use
Mixed Use
$7.99M
$6.99M – $9.32M
NOI $559,301 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.44M
$15.26M – $20.34M
NOI $1,220,487 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 1827 Wiltberger St NW Washington, DC.
What is the asking price?
The asking price for this property is $9,800,000.
What are key features of this property?
This property features: Entire second and third levels of the building are available.; Part of the historic adaptive reuse of the Holzbeierlein Bakery building.; Commercial condominium units.
