Brick Medical Office
For Sale
$695,000
2019 BUNKER HILL ROAD NE, Washington, DC 20018
1937 brick structure in Michigan Park subdivision with driveway parking and no association fee.
Property Size2,302 SF
Price / SF$301.91
Days on Market106
Property Features for 2019 BUNKER HILL ROAD NE
General Information
Standard status
Active
Size
2,302 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,830
Building Details
Building Size
2,302 SF
Year Built
1937
Listing Agency:
Compass
(202) 302-0438
Listed By:
Ethan N Carson · License #SP85463
(202) 302-0438
Source:
Kerishull
Added: May 16
Changed: Aug 23
Last Checked: Aug 28 at 4:37PM
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.
For sale, this 1937 brick medical office building offers a straightforward layout supported by a driveway for convenient parking. The property is described as being in average condition, providing a workable baseline for updates or renovations depending on the next user’s needs. There is no association fee, which may offer added flexibility for operational planning.
The building is located in the Michigan Park subdivision at 2019 Bunker Hill Rd NE in Washington, DC. The remarks note the area as diverse, with growth potential and an emphasis on visibility and foot traffic, which may be relevant for businesses looking for consistent customer presence.
The building is located in the Michigan Park subdivision at 2019 Bunker Hill Rd NE in Washington, DC. The remarks note the area as diverse, with growth potential and an emphasis on visibility and foot traffic, which may be relevant for businesses looking for consistent customer presence.
Key Highlights
- Brick commercial property built in 1937 in the Michigan Park subdivision
- Driveway included for convenient on‑site parking
- No association fee, offering flexibility in management and operating costs
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
$42,696
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
6.14%
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%
$853,920
$853.9K
Cap Rate 7%
$609,943
$609.9K
Cap Rate 9%
$474,400
$474.4K
Market Conditions
NOI Build-Up for 2,302 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
$77.3K $33.60/SF
− Vacancy
−$6.2K −$2.69/SF
EGI
$71.2K $30.91/SF
− OpEx
−$28.5K −$12.36/SF
NOI
$42.7K $18.55/SF
Area
Washington, DC
Vacancy
8.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$853,920
Cap Rate 7%
$609,943
Cap Rate 9%
$474,400
Alternative Uses
Best Use
Office B
$1.04M
$913.7K – $1.22M
NOI $73,093 @ 7.0% cap · market cap 10.52%
Second Best
Healthcare Medical
$609.9K
$533.7K – $711.6K
NOI $42,696 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,885 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20018, DC
20,646
Population
9,753
Households
2.1
Avg Household Size
39
Median Age
46%
College-Educated
89%
High-School Grad
3.0 sq mi
ZIP Area
6,882
Density / Sq Mi
$92,569
Median Household Income
$71,947
Median Earnings
$1,245
Median Rent
$672,100
Median Home Value
Market
Vacancy Rate% for Office in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 1937 brick structure in Michigan Park subdivision with driveway parking and no association fee.
Where is this medical office space located?
The property is located at 2019 BUNKER HILL ROAD NE Washington, DC.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Brick commercial property built in 1937 in the Michigan Park subdivision; Driveway included for convenient on‑site parking; No association fee, offering flexibility in management and operating costs
