Warehouse Space in Washington,
For Sale
$1,950,000
1901 1st St NW, Washington, DC 20001
16,297 SF warehouse space available for sale.
Property Size16,297 SF
Price / SF$119.65
Days on Market159
Property Features for 1901 1st St NW
General Information
Standard status
Active
Size
16,297 SF
Zoning
MU-4
Taxes and HOA fees
Annual Taxes
$172,369
Amenities
Electric Water Heater
Building Details
Building Size
16,297 SF
Year Built
1934
Listing Agency:
GREYSTEEL COMPANY LLC
(202) 280-2722
Listed By:
Ari Firoozabadi · License #SP200205538
(202) 280-2722
Source:
Evrealestate
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 6:28AM
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 GREYSTEEL COMPANY LLC
Investment Insights
Based on property information with market context.
A 16,297 square foot warehouse property is available for sale. The property is located in Washington, DC and is suitable for warehouse, industrial, and other commercial real estate purposes.
Key Highlights
- 16,297 SF warehouse space available for sale
- Year Built: 1934
- Electric Water Heater
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
$164,274
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
8.42%
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%
$3,285,480
$3.3M
Cap Rate 7%
$2,346,771
$2.3M
Cap Rate 9%
$1,825,267
$1.8M
Market Conditions
NOI Build-Up for 16,297 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
$244.5K $15.00/SF
− Vacancy
−$9.8K −$0.60/SF
EGI
$234.7K $14.40/SF
− OpEx
−$70.4K −$4.32/SF
NOI
$164.3K $10.08/SF
Area
Washington, DC
Vacancy
4.00%
Lease Rate
$15.00 /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%
$3,285,480
Cap Rate 7%
$2,346,771
Cap Rate 9%
$1,825,267
Alternative Uses
Best Use
Warehouse
$2.97M
$2.60M – $3.46M
NOI $207,886 @ 7.0% cap · market cap 10.66%
Second Best
Industrial
$2.35M
$2.05M – $2.74M
NOI $164,274 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$8.38M
$7.33M – $9.78M
NOI $586,786 @ 7.0% cap · market cap 30.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,678
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 16,297 SF warehouse space available for sale.
Where is this warehouse located?
The property is located at 1901 1st St NW Washington, DC.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 16,297 SF warehouse space available for sale; Year Built: 1934; Electric Water Heater
