Brick Storefront Property with
For Sale
$1,575,000
2309 Calvert NW, Washington, DC 20008
Brick retail property with nearby public parking, metered spaces, and access to an active retail and restaurant corridor.
Property Size4,612 SF
Price / SF$341.50
Days on Market12
Property Features for 2309 Calvert NW
General Information
Standard status
Active
Size
4,612 SF
Building Details
Year Built
1912
Construction
brick
Listing Agency:
Taylor Properties
(301) 332-2162
Listed By:
Linda Ridenour
Source:
Gklegacygroup
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 1:12PM
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 Taylor Properties
Investment Insights
Based on property information with market context.
This brick storefront property occupies a townhouse-style building constructed in 1912, with approximately 4,612 square feet of space. The property is offered as-is and provides exposure to both pedestrian and vehicular traffic.
The site is near Connecticut Avenue, the Calvert Street Bridge, the National Zoo, CVS, METRO, boutiques, and restaurants. A public parking lot is located across the street, while metered parking is available along the frontage. Its Woodley Park setting places the property within an established retail and restaurant area with a mix of neighborhood services and dining destinations.
The site is near Connecticut Avenue, the Calvert Street Bridge, the National Zoo, CVS, METRO, boutiques, and restaurants. A public parking lot is located across the street, while metered parking is available along the frontage. Its Woodley Park setting places the property within an established retail and restaurant area with a mix of neighborhood services and dining destinations.
Key Highlights
- Approximately 4,612 SF brick storefront property
- Townhouse‑style building constructed in 1912
- Public parking lot across the street
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
$73,995
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
4.70%
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%
$1,479,900
$1.5M
Cap Rate 7%
$1,057,071
$1.1M
Cap Rate 9%
$822,167
$822.2K
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
$110.7K $24.00/SF
− Vacancy
−$5.0K −$1.08/SF
EGI
$105.7K $22.92/SF
− OpEx
−$31.7K −$6.88/SF
NOI
$74.0K $16.04/SF
Area
Washington, DC
Vacancy
4.50%
Lease Rate
$24.00 /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%
$1,479,900
Cap Rate 7%
$1,057,071
Cap Rate 9%
$822,167
Alternative Uses
Best Use
Retail
$1.06M
$924.9K – $1.23M
NOI $73,995 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,059 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,569
Businesses Nearby
50k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
McDonald's
Dining
15,785 visits/mo
0.1 miles
M&T Bank
Shops & Services
12,887 visits/mo
0.1 miles
Starbucks
Dining
12,569 visits/mo
0.5 miles
Elevation Burger
Dining
3,143 visits/mo
0.3 miles
Compass Coffee
Dining
2,771 visits/mo
0.4 miles
Demographics for 20008, DC
30,143
Population
18,083
Households
1.7
Avg Household Size
38
Median Age
89%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,724
Density / Sq Mi
$123,653
Median Household Income
$87,607
Median Earnings
$2,202
Median Rent
$894,100
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?
Storefront property - Brick retail property with nearby public parking, metered spaces, and access to an active retail and restaurant corridor.
Where is this storefront property located?
The property is located at 2309 Calvert NW Washington, DC.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Approximately 4,612 SF brick storefront property; Townhouse‑style building constructed in 1912; Public parking lot across the street
