Vacant Restaurant with Apartment
For Sale
$1,600,000
1919 I St NW, Washington, DC 20006
Former restaurant with plans for 8 luxury rental units.
Property Size7,500 SF
Price / SF$213.33
Days on Market144
Property Features for 1919 I St NW
General Information
Standard status
Active
Size
7,500 SF
Building Details
Year Built
2025
Listing Agency:
NextHome Envision
Listed By:
Jesse B Kaye · License #SP98364576,PersonLicenseNumber
(202) 394-6890
Source:
Kableteam
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 13 at 4:12PM
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 NextHome Envision
Investment Insights
Based on property information with market context.
The property is a gutted and vacant former restaurant with plans for 8 luxury rental units. The building to the left is also being demolished for luxury apartments. The location has a bike score of 58, indicating it is bikeable. The walk score is 93, classifying it as a walker's paradise. The transit score is 88, indicating excellent transit options.
Key Highlights
- Walker's Paradise: Enjoy a Walk Score of 93, meaning daily errands don't require a car.
- Excellent Transit: With a Transit Score of 88, public transportation is readily accessible.
- Plans for 8 Luxury Rental Units: Approved plans are included, offering immediate development potential.
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
$124,616
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
7.79%
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%
$2,492,320
$2.5M
Cap Rate 7%
$1,780,229
$1.8M
Cap Rate 9%
$1,384,622
$1.4M
Market Conditions
NOI Build-Up for 7,500 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
$238.5K $31.80/SF
− Vacancy
−$11.9K −$1.59/SF
EGI
$226.6K $30.21/SF
− OpEx
−$102.0K −$13.59/SF
NOI
$124.6K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,492,320
Cap Rate 7%
$1,780,229
Cap Rate 9%
$1,384,622
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,616 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.86M
$3.38M – $4.50M
NOI $270,043 @ 7.0% cap · market cap 16.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 20006, DC
1,599
Population
904
Households
1.8
Avg Household Size
24
Median Age
85%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
3,998
Density / Sq Mi
$36,019
Median Household Income
$2,035
Median Rent
$255,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Former restaurant with plans for 8 luxury rental units.
Where is this apartment building located?
The property is located at 1919 I St NW Washington, DC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Walker's Paradise: Enjoy a Walk Score of 93, meaning daily errands don't require a car.; Excellent Transit: With a Transit Score of 88, public transportation is readily accessible.; Plans for 8 Luxury Rental Units: Approved plans are included, offering immediate development potential.
