Four-Unit Building in Washington,
For Sale
$889,000
1851 NE KENDALL STREET NE, Washington, DC 20002
Four-unit building in a developing area, one unit vacant.
Property Size2,138 SF
Price / SF$415.81
Days on Market174
Property Features for 1851 NE KENDALL STREET NE
General Information
Standard status
Active
Size
2,138 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$4,564
Building Details
Building Size
2,138 SF
Year Built
1942
Listing Agency:
Bennett Realty Solutions
(301) 646-4047
Listed By:
Thurman L. Battle · License #91424
(301) 646-4047
Source:
Kerishull
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 29 at 1:43PM
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 Bennett Realty Solutions
Investment Insights
Based on property information with market context.
This is a four-unit building suitable for investors or developers. One of the units is currently vacant. The property is located within walking distance of attractive developments, eateries, City Winery, and nightlife.
Key Highlights
- Price Reduced: Don't miss out on potential savings.
- Vacant Unit: Ready for immediate occupancy or rental income.
- Investment/Development Opportunity: A prime property for investors and developers.
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
$40,731
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
4.58%
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%
$814,620
$814.6K
Cap Rate 7%
$581,871
$581.9K
Cap Rate 9%
$452,567
$452.6K
Market Conditions
NOI Build-Up for 2,138 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
$61.6K $28.80/SF
− Vacancy
−$3.4K −$1.58/SF
EGI
$58.2K $27.22/SF
− OpEx
−$17.5K −$8.16/SF
NOI
$40.7K $19.05/SF
Area
ZIP 20002
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$814,620
Cap Rate 7%
$581,871
Cap Rate 9%
$452,567
Alternative Uses
Best Use
Multifamily LT 5
$581.9K
$509.1K – $678.9K
NOI $40,731 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$520.0K
$455.0K – $606.7K
NOI $36,399 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$1.10M
$965.9K – $1.29M
NOI $77,270 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit building in a developing area, one unit vacant.
Where is this quadplex located?
The property is located at 1851 NE KENDALL STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Price Reduced: Don't miss out on potential savings.; Vacant Unit: Ready for immediate occupancy or rental income.; Investment/Development Opportunity: A prime property for investors and developers.
