Five-Level Mixed-Use
For Sale
$2,695,000
2307 18TH Street NW, Washington, DC 20009
Multi-Family, WASHINGTON, DC
Property Size4,612 SF
Lot Size0.04 Acres
Price / SF$584.35
Days on Market161
Property Features for 2307 18TH Street NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Parking features
Off Street, On Street
Elementary school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Middle school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
High school district
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Standard status
Active
Size
4,612 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
44535
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1900
Number of units
4
Building materials
Stucco, Block
Architectural style
Other
Listing Agency:
MCM Realty Company
(703) 442-9200
Listed By:
Julie M Mariotti · License #SP98373000
(703) 328-4040
Added: Mar 23
Changed: Aug 20
Last Checked: Aug 30 at 9:06AM
MLS# DCDC2251538
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-level mixed-use building contains three two-bedroom apartments of approximately 900 SF each, along with restaurant space at street level. The walk-out basement is improved for bar use. The property was fully gutted and renovated in 2007, with a fourth floor added and the basement rehabilitated. Central heating and central air serve the building.
Located in Adams Morgan at 2307 18th Street NW, the property includes two rear parking spaces. The 4,612-square-foot building occupies a 0.0422-acre lot and was originally constructed in 1900. The apartments and commercial spaces are fully leased.
Located in Adams Morgan at 2307 18th Street NW, the property includes two rear parking spaces. The 4,612-square-foot building occupies a 0.0422-acre lot and was originally constructed in 1900. The apartments and commercial spaces are fully leased.
Key Highlights
- Three two‑bedroom apartments, approximately 900 SF each
- 4,612 SF mixed‑use building on a 0.0422‑acre lot
- Fully renovated in 2007 with a fourth floor added
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
$93,125
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
3.46%
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%
$1,862,500
$1.9M
Cap Rate 7%
$1,330,357
$1.3M
Cap Rate 9%
$1,034,722
$1.0M
Market Conditions
NOI Build-Up for 4,612 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
$161.6K $35.04/SF
− Vacancy
−$12.6K −$2.73/SF
EGI
$149.0K $32.31/SF
− OpEx
−$55.9K −$12.12/SF
NOI
$93.1K $20.19/SF
Area
ZIP 20009
Vacancy
7.80%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
37.50%
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%
$1,862,500
Cap Rate 7%
$1,330,357
Cap Rate 9%
$1,034,722
Alternative Uses
Best Use
Mixed Use
$1.33M
$1.16M – $1.55M
NOI $93,125 @ 7.0% cap · market cap 3.46%
Second Best
Specialty Retail
$1.28M
$1.12M – $1.50M
NOI $89,844 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,059 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,984
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 - Renovated property combines residential apartments with street-level restaurant space and a finished walk-out basement bar.
Where is this mixed-use property located?
The property is located at 2307 18TH Street NW Washington, DC.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Three two‑bedroom apartments, approximately 900 SF each; 4,612 SF mixed‑use building on a 0.0422‑acre lot; Fully renovated in 2007 with a fourth floor added
