Retail Storefront
For Sale
$1,700,000
2408 Martin Luther King Jr Avenue, Washington, DC 20020
For-sale retail storefront unit #2 located at 2408 Martin Luther King Jr Avenue SE in Washington, DC.
Property Size3,117 SF
Price / SF$545.40
Days on Market346
Property Features for 2408 Martin Luther King Jr Avenue
General Information
Standard status
Active
Size
3,117 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$15,168
Amenities
Central Air
3
MU
Private, Driveway, Fenced.
Building Details
Year Built
1925
Listing Agency:
RE/MAX Allegiance
(202) 744-3821
Listed By:
Jerry Johnson · License #SP101770
(202) 744-3821
Source:
Xome
Added: Sep 2, 2025
Changed: Aug 12
Last Checked: Aug 13 at 3:20AM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
This offering consists of a retail storefront unit (Unit #2) within a commercial retail property at 2408 Martin Luther King Jr Avenue SE in Washington, DC. The space is presented for sale as a standalone unit and totals 3,117 square feet.
The property’s listing includes Unit #2 at the stated address, positioned within a broader retail property setting. The combination of a dedicated unit number and measured total size supports a straightforward leasing or ownership consideration for appropriate retail users.
Interested parties should confirm all details directly with the listing broker regarding unit configuration and any related building or operational specifics not provided in the public listing information.
The property’s listing includes Unit #2 at the stated address, positioned within a broader retail property setting. The combination of a dedicated unit number and measured total size supports a straightforward leasing or ownership consideration for appropriate retail users.
Interested parties should confirm all details directly with the listing broker regarding unit configuration and any related building or operational specifics not provided in the public listing information.
Key Highlights
- For‑sale retail storefront unit #2 at 2408 Martin Luther King Jr Avenue SE, Washington, DC
- Year built: 1925
- Central air cooling
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
$49,485
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
2.91%
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%
$989,700
$989.7K
Cap Rate 7%
$706,929
$706.9K
Cap Rate 9%
$549,833
$549.8K
Market Conditions
NOI Build-Up for 3,117 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
$74.8K $24.00/SF
− Vacancy
−$4.1K −$1.32/SF
EGI
$70.7K $22.68/SF
− OpEx
−$21.2K −$6.80/SF
NOI
$49.5K $15.88/SF
Area
ZIP 20020
Vacancy
5.50%
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%
$989,700
Cap Rate 7%
$706,929
Cap Rate 9%
$549,833
Alternative Uses
Best Use
Retail
$706.9K
$618.6K – $824.8K
NOI $49,485 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,652 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
Starbucks
Dining
4,578 visits/mo
0.1 miles
Truist
Shops & Services
1,899 visits/mo
0.4 miles
Demographics for 20020, DC
51,616
Population
26,376
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
89%
High-School Grad
4.6 sq mi
ZIP Area
11,221
Density / Sq Mi
$53,015
Median Household Income
$48,752
Median Earnings
$1,317
Median Rent
$442,500
Median Home Value
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - For-sale retail storefront unit #2 located at 2408 Martin Luther King Jr Avenue SE in Washington, DC.
Where is this storefront property located?
The property is located at 2408 Martin Luther King Jr Avenue Washington, DC.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: For‑sale retail storefront unit #2 at 2408 Martin Luther King Jr Avenue SE, Washington, DC; Year built: 1925; Central air cooling
