Gas Station and Auto Service
For Sale
$425,000
2001 16TH STREET NW Unit 206, Washington, DC 20009
Existing gas station on a 1.72-acre assemblage with adjacent parcels and direct access along New York Ave NE.
Property Size862 SF
Lot Size1.72 Acres
Price / SF$493.04
Days on Market43
Property Features for 2001 16TH STREET NW Unit 206
General Information
Standard status
Active
Size
862 SF
Lot size
1.72 Acres
Property subtype
Unit/Flat/Apartment
Zoning
PDR-2
Site & Location
Traffic Count
71,070 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,590
Building Details
Building Size
862 SF
Year Built
1915
Listing Agency:
Compass
Listed By:
Dana Rice · License #SP98374040
(202) 669-6908
Source:
Kerishull
Added: Jul 24
Changed: Sep 3
Last Checked: Sep 2 at 2:10AM
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 Compass
Investment Insights
Based on property information with market context.
This offering includes an existing gas station (0.23 acres) along with adjacent parcels (1.49 acres), totaling 1.72 acres. The property is positioned for automotive-oriented retail and service uses consistent with the site’s current configuration.
The site benefits from excellent visibility and direct access along New York Ave NE, with reported 71,070 ADT. The property is described as a strong fit for convenience store, car wash, and auto repair uses, stated as by-right in PDR-2 zoning.
The property is also noted to be in close vicinity to the New City development, anticipated to break ground in approximately 12 months, with 300 units expected in the first phase.
The site benefits from excellent visibility and direct access along New York Ave NE, with reported 71,070 ADT. The property is described as a strong fit for convenience store, car wash, and auto repair uses, stated as by-right in PDR-2 zoning.
The property is also noted to be in close vicinity to the New City development, anticipated to break ground in approximately 12 months, with 300 units expected in the first phase.
Key Highlights
- Existing gas station on a 1.72‑acre assemblage (0.23 acres gas station plus adjacent 1.49‑acre parcels).
- Direct access and high‑traffic frontage along New York Ave NE with 71,070 ADT.
- By‑right uses in PDR‑2 zoning include convenience store, car wash, and auto repair.
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
$16,792
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
3.95%
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%
$335,840
$335.8K
Cap Rate 7%
$239,886
$239.9K
Cap Rate 9%
$186,578
$186.6K
Market Conditions
NOI Build-Up for 862 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
$23.3K $27.00/SF
− Vacancy
−$884 −$1.03/SF
EGI
$22.4K $25.97/SF
− OpEx
−$5.6K −$6.49/SF
NOI
$16.8K $19.48/SF
Area
ZIP 20009
Vacancy
3.80%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$335,840
Cap Rate 7%
$239,886
Cap Rate 9%
$186,578
Alternative Uses
Best Use
Specialty Retail
$239.9K
$209.9K – $279.9K
NOI $16,792 @ 7.0% cap · market cap 3.95%
Second Best
Retail
$215.0K
$188.2K – $250.9K
NOI $15,053 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$443.4K
$388.0K – $517.3K
NOI $31,037 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
71,070 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7,768
Businesses Nearby
69k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 26%
Home Improvements & Furnishings 14%
Shops & Services 11%
McDonald's
Dining
19,704 visits/mo
0.1 miles
Harris Teeter
Groceries
16,637 visits/mo
0.4 miles
Starbucks
Dining
7,495 visits/mo
0.1 miles
Logan Hardware
Home Improvements & Furnishings
5,986 visits/mo
0.2 miles
Jeni's Splendid Ice Creams
Dining
4,634 visits/mo
0.2 miles
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 Retail in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Existing gas station on a 1.72-acre assemblage with adjacent parcels and direct access along New York Ave NE.
Where is this gas station located?
The property is located at 2001 16TH STREET NW Unit 206 Washington, DC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Existing gas station on a 1.72‑acre assemblage (0.23 acres gas station plus adjacent 1.49‑acre parcels).; Direct access and high‑traffic frontage along New York Ave NE with 71,070 ADT.; By‑right uses in PDR‑2 zoning include convenience store, car wash, and auto repair.
