Building Details

Building Size 16,297 SF

Year Built 1934

Listing Agency: Greysteel Company LLC

Listed By: Ari Firoozabadi · License #0225081719 Show Phone

Source: Evrealestate

Added: Mar 17 Changed: Aug 8 Last Checked: Aug 8 at 6:28AM

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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 / Yr

$164,274

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $207,886 @ 7.0% cap · market cap 10.66%

Second Best

Industrial

$2.35M

$2.05M – $2.74M (±1% cap)

NOI $164,274 @ 7.0% cap · market cap 8.42%

Theoretical Best

Office A

$8.38M

$7.33M – $9.78M (±1% cap)

NOI $586,786 @ 7.0% cap · market cap 30.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Furniture & Home Goods Home Appliance Store Veterinary Clinic Law Firm Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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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