Storefront
For Sale
$757,000
2703 12TH STREET NE, Washington, DC 20018
Built in 1927 with walkable access and good transit connectivity.
Property Size2,406 SF
Price / SF$314.63
Days on Market28
Property Features for 2703 12TH STREET NE
General Information
Standard status
Active
Size
2,406 SF
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$4,895
Building Details
Building Size
2,406 SF
Year Built
1927
Listing Agency:
Marcus & Millichap Real Estate
(202) 536-3742
Listed By:
Lorenzo M Wooten Jr. · License #MD:629911,DC:SP98367898
(202) 536-3742
Source:
Kerishull
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 29 at 4:51PM
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 storefront property dates to 1927 and is located at 2703 12th St NE in Washington, DC 20018. The surrounding area records a Walk Score of 67, indicating a somewhat walkable setting, while its Transit Score of 62 reflects good transit access. A Bike Score of 53 indicates the area is bikeable.
Key Highlights
- Built in 1927
- Walk Score of 67; somewhat walkable area
- Transit Score of 62; good transit access
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
$38,602
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
5.10%
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%
$772,040
$772.0K
Cap Rate 7%
$551,457
$551.5K
Cap Rate 9%
$428,911
$428.9K
Market Conditions
NOI Build-Up for 2,406 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
$57.7K $24.00/SF
− Vacancy
−$2.6K −$1.08/SF
EGI
$55.1K $22.92/SF
− OpEx
−$16.5K −$6.88/SF
NOI
$38.6K $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%
$772,040
Cap Rate 7%
$551,457
Cap Rate 9%
$428,911
Alternative Uses
Best Use
Retail
$551.5K
$482.5K – $643.4K
NOI $38,602 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,630 @ 7.0% cap · market cap 11.44%
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
227k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 27%
Groceries 22%
Home Improvements & Furnishings 21%
Dining 14%
Giant
Groceries
49,880 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
47,643 visits/mo
0.2 miles
Alamo Drafthouse Cinema DC Bryant Street
Leisure
28,767 visits/mo
0.5 miles
Shell
Shops & Services
10,765 visits/mo
0.5 miles
7-Eleven
Shops & Services
10,216 visits/mo
0.2 miles
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 Retail in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Built in 1927 with walkable access and good transit connectivity.
Where is this storefront property located?
The property is located at 2703 12TH STREET NE Washington, DC.
What is the asking price?
The asking price for this property is $757,000.
What are key features of this property?
This property features: Built in 1927; Walk Score of 67; somewhat walkable area; Transit Score of 62; good transit access
