Renovated Mixed-Use Retail and
2316 Rhode Island Ave NE Washington, DC 20018
2316 Rhode Island Ave NE, Washington, DC, 20018
Contact for pricing
For Sale
Contact for pricing
Renovated MU-4 mixed-use building on a heavily trafficked Route 1 corridor with rear curb cut for potential on-site parking.
Property Size2,470 SF
Price / SF$293.52
Days on Market180
Property Features for 2316 Rhode Island Ave NE
General Information
- Standard status
- Active
- Size
- 2,470 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1912
Listing agency
Feldman Ruel
Listed by
Ian Ruel · License #DC BR200201389
Source
Crexi
Added: Jan 23 Updated: Jul 22 at 9:44AM Checked: Jul 22 at 9:44AM
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 Feldman Ruel
Investment Insights
Based on property information with market context.
Feldman Ruel offers for sale 2316 Rhode Island Avenue NE, a renovated mixed-use property designed to support a variety of commercial and residential uses under MU-4 zoning. The building underwent a full interior and systems renovation in 2016 and is being delivered vacant at closing, offering the option for immediate occupancy with limited additional improvement expense.
The property is positioned along the Rhode Island Avenue NE corridor (U.S. Route 1), which carries approximately 21,860 vehicles per day. A rear curb cut provides the potential for rear on-site parking.
MU-4 zoning permits a wide range of by-right uses including retail, office, multifamily, and hospitality. MU-4 also allows additional density, with the existing building area potentially expandable to more than twice its current size.
The property is positioned along the Rhode Island Avenue NE corridor (U.S. Route 1), which carries approximately 21,860 vehicles per day. A rear curb cut provides the potential for rear on-site parking.
MU-4 zoning permits a wide range of by-right uses including retail, office, multifamily, and hospitality. MU-4 also allows additional density, with the existing building area potentially expandable to more than twice its current size.
Key Highlights
- Renovated in 2016 with full interior and systems renovation.
- Zoned MU‑4, allowing by‑right uses including retail, office, multifamily, and hospitality.
- MU‑4 zoning allows expansion of the existing building area to more than twice its current size.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.1k | $30.00 |
| − Vacancy | −$8.9k | −$3.60 |
| EGI | $65.2k | $26.40 |
| − OpEx | −$24.5k | −$9.90 |
| NOI | $40.8k | $16.50 |
2,470 SF · lease $30.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$1.12M
$980.3K – $1.31M
NOI $78,427 @ 7.0% cap · market cap 10.82%
Second Best
Mixed Use
$582.2K
$509.4K – $679.3K
NOI $40,755 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,934 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tiona Arrington, G&G ...
Real Estate Agency
Ohlsen Consulting
Business Management Consultant
Petals To The Metal Florist ...
(Bike/Boat/Book/etc) Store
Active Journey
Gym & Fitness Center
KF Facility Services
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Renovated MU-4 mixed-use building on a heavily trafficked Route 1 corridor with rear curb cut for potential on-site parking.
Where is this mixed-use property located?
The property is located at 2316 Rhode Island Ave NE Washington, DC.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Renovated in 2016 with full interior and systems renovation.; Zoned MU‑4, allowing by‑right uses including retail, office, multifamily, and hospitality.; MU‑4 zoning allows expansion of the existing building area to more than twice its current size.
