Mixed-Use Building with
For Sale
Contact for pricing
1917 18th Street NW, Washington, DC 20009
Fully occupied property combines residential units with a quick-service restaurant in a mixed-use setting.
Property Size3,124 SF
Price / SF$480.15
Days on Market8
Property Features for 1917 18th Street NW
General Information
Standard status
Active
Size
3,124 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
MU-4
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$112,823
Building Details
Year Built
1923
Year Renovated
2020
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Greysteel Company LLC
(202) 499-4077
Listed By:
John Spaller · License #SP40002095
Source:
Crexi
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 2:19AM
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.
This mixed-use building contains two apartments positioned above a quick-service restaurant, creating a combination of residential and commercial occupancy within one property. The asset is reported as 100% occupied and carries MU-4 zoning.
Constructed in 1923, the property is located at 1917 18th Street NW in Washington, DC 20009. Its configuration brings apartment and restaurant uses together in a single building.
Constructed in 1923, the property is located at 1917 18th Street NW in Washington, DC 20009. Its configuration brings apartment and restaurant uses together in a single building.
Key Highlights
- 100% occupied mixed‑use building
- Two apartments over a quick‑service restaurant
- MU‑4 zoning
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
$68,195
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
4.55%
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%
$1,363,900
$1.4M
Cap Rate 7%
$974,214
$974.2K
Cap Rate 9%
$757,722
$757.7K
Market Conditions
NOI Build-Up for 3,124 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
$103.1K $33.00/SF
− Vacancy
−$5.7K −$1.82/SF
EGI
$97.4K $31.19/SF
− OpEx
−$29.2K −$9.36/SF
NOI
$68.2K $21.83/SF
Area
ZIP 20009
Vacancy
5.50%
Lease Rate
$33.00 /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%
$1,363,900
Cap Rate 7%
$974,214
Cap Rate 9%
$757,722
Alternative Uses
Best Use
Multifamily LT 5
$974.2K
$852.4K – $1.14M
NOI $68,195 @ 7.0% cap · market cap 4.55%
Second Best
Mixed Use
$901.1K
$788.5K – $1.05M
NOI $63,079 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,482 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,539
Businesses Nearby
Explore this area
Business Placement
Demographics for 20009, DC
53,357
Population
31,824
Households
1.7
Avg Household Size
34
Median Age
84%
College-Educated
97%
High-School Grad
1.3 sq mi
ZIP Area
41,044
Density / Sq Mi
$140,555
Median Household Income
$99,606
Median Earnings
$2,346
Median Rent
$727,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combines residential units with a quick-service restaurant in a mixed-use setting.
Where is this mixed-use property located?
The property is located at 1917 18th Street NW Washington, DC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 100% occupied mixed‑use building; Two apartments over a quick‑service restaurant; MU‑4 zoning
