Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2823 Gainesville St Se Washington, DC 20020

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $849,900

    Fully approved and permitted site for a 12-unit building.

    Lot size:
    0.26 Acres

    Property Features for 2823 Gainesville St Se

    General Information

    Standard status
    Active
    Lot size
    0.26 Acres

    We can help!

    Listing Contact
    Michael A Hines
    Source: Corcoran

    Listing Agency: EXP REALTY, LLC Listing Agent: Michael A Hines

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Approved Site for 12 Units

    This is a fully approved and permitted site ready for the construction of a 12-unit building. The site is suitable for either market-rate units, estimated at $4.4 million with a 6.5% cap rate, or Housing Choice Voucher executions, valued at $4.6 million with a 6.5% cap rate. Comprehensive data, pre-construction estimates, and a list of general contractors familiar with the plans and site are available.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Washington
    County
    District of Columbia
    State
    DC
    Longitude
    -76.9682506
    Latitude
    38.8549588

    Nearby Similar for Sale

    • New
      $350,000
      0.07 Acres

      Established Liquor Store Business Opportunity

      Profitable liquor store with transferable license in prime location.
      4906 Wisconsin Ave NW, Washington, DC 20016
      View Details
    • New
      $799,900

      Dental Office Near Dupont Circle

      Dental office condominium near Dupont Circle with equipment included.
      1330 New Hampshire Ave NW, Washington, DC 20036
      View Details
    • $850,000
      0.03 Acres

      Park View Mixed-Use Commercial Property

      Versatile three-level commercial property in the heart of Park View.
      3328 Georgia Ave NW, Washington, DC 20010
      View Details
    • New
      $1,100,000
      2,696 SF

      Turnkey Restaurant/Bar Opportunity on Georgia Avenue

      Fully built-out restaurant/bar in vibrant Northwest DC corridor.
      5217 Georgia Ave NW, Washington, DC 20011
      View Details
    • New
      $1,550,000
      1,920 SF

      Renovated Mixed-Use Building on H Street

      Two-unit commercial building in the heart of H Street Corridor.
      521 H St NE, Washington, DC 20002
      View Details
    • New
      $1,550,000
      0.03 Acres

      Renovated Commercial Building on H Street

      Two-unit commercial building in the heart of H Street Corridor.
      521 H St NE, Washington, DC 20002
      View Details
    • $245,000

      Adams Morgan Restaurant Business Opportunity

      Profitable restaurant in high-traffic DC area, patio seating.
      2431 18Th St NW, Washington, DC 20009
      View Details
    • $138,000
      0.03 Acres

      Established Store in NE Washington

      Profitable convenience store with beer and wine license for sale.
      700 F St NE, Washington, DC 20002
      View Details
    • $890,000

      Prime Retail Space in Washington

      1,658 Sqft retail space in high-traffic Washington, DC corridor.
      3619 Georgia Ave NW, Washington, DC 20010
      View Details
    • Contact for pricing

      Commercial Space in Washington, DC

      Commercial space featuring three rooms, two baths, and a kitchen.
      1505 N Capitol St NE, Washington, DC 20002
      View Details
    • $1,750,006

      Prime Corner Location Retail/Office Space

      First floor and basement commercial space with endless possibilities.
      337 H St NE, Washington, DC 20002
      View Details
    • $250,000

      Medical Office Condo For Sale

      Medical office condo in Foggy Bottom near Washington Circle.
      3 Washington Cir NW, Washington, DC 20037
      View Details

    FAQs

    What type of property is this?
    Commercial land - Fully approved and permitted site for a 12-unit building.
    Where is this commercial land located?
    The property is located at 2823 Gainesville St Se Washington, DC.
    What is the asking price?
    The asking price for this property is $849,900.
    What are key features of this property?
    This property features: - Fully approved and permitted site for a 12-unit building.; - Proforma available for both market rate and Housing Choice Voucher executions.; - Market rate valuation at 4.4 million at a 6.5% cap rate.
    (202) 379-5868
    Request Owner's contact information
    2823 Gainesville St Se Washington, DC 20020
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2823 Gainesville St Se
    Washington, DC 20020
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2823 Gainesville St Se Washington, DC 20020
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael A Hines
    Real Estate License ID: SP98365254
    (202) 379-5868 (703) 935-1218 (833) 335-7433
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!