Apartment
For Sale
$895,000
2701 12TH STREET, Washington, DC 20018
WalkScore 67 and transitScore 62 indicate somewhat walkable access and good transit nearby.
Property Size2,788 SF
Price / SF$321.02
Days on Market46
Property Features for 2701 12TH STREET
General Information
Standard status
Active
Size
2,788 SF
Property subtype
Mixed Use
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,574
Amenities
Central Air
Other.
Building Details
Year Built
1910
Listing Agency:
Marcus & Millichap Real Estate
(202) 536-3742
Listed By:
Lorenzo Wooten · License #MD:629911,DC:SP98367898
(202) 536-3742
Source:
Xome
Added: Jul 16
Changed: Aug 25
Last Checked: Aug 30 at 3:03PM
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 Marcus & Millichap Real Estate
Investment Insights
Based on property information with market context.
This apartment building was built in 1910. Availability is listed as for sale.
Area walkability and transit access are supported by WalkScore 67 and transitScore 62, with BikeScore 53 and a somewhat walkable, good transit profile.
For more details, review the offering for the property’s layout, condition, and income or occupancy information.
Area walkability and transit access are supported by WalkScore 67 and transitScore 62, with BikeScore 53 and a somewhat walkable, good transit profile.
For more details, review the offering for the property’s layout, condition, and income or occupancy information.
Key Highlights
- Built in 1910
- WalkScore 67: somewhat walkable
- transitScore 62: good transit
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
$46,324
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
5.18%
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%
$926,480
$926.5K
Cap Rate 7%
$661,771
$661.8K
Cap Rate 9%
$514,711
$514.7K
Market Conditions
NOI Build-Up for 2,788 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
$88.7K $31.80/SF
− Vacancy
−$4.4K −$1.59/SF
EGI
$84.2K $30.21/SF
− OpEx
−$37.9K −$13.59/SF
NOI
$46.3K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$926,480
Cap Rate 7%
$661,771
Cap Rate 9%
$514,711
Alternative Uses
Best Use
Apartment 5plus
$661.8K
$579.1K – $772.1K
NOI $46,324 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,384 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,706
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - WalkScore 67 and transitScore 62 indicate somewhat walkable access and good transit nearby.
Where is this apartment building located?
The property is located at 2701 12TH STREET Washington, DC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Built in 1910; WalkScore 67: somewhat walkable; transitScore 62: good transit
