Minnesota Avenue Mixed-Use
For Sale
$3,280,000
2900 Minnesota Ave Se, Washington, DC 20019
Mixed-use property with income and development potential in Washington, DC.
Property Size9,200 SF
Lot Size0.22 Acres
Price / SF$356.52
Days on Market297
Property Features for 2900 Minnesota Ave Se
General Information
Standard status
Active
Size
9,200 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,087
Building Details
Year Built
1948
Listing Agency:
FAIRFAX REALTY
(703) 766-2710
Listed By:
KEVIN B SHIN · License #0225069693
(703) 395-3123
Source:
Corcoran
Added: Nov 11, 2025
Changed: Aug 15
Last Checked: Sep 2 at 6:50PM
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 FAIRFAX REALTY
Investment Insights
Based on property information with market context.
Located on Minnesota Avenue SE in Washington, DC, the property at 2900-2924 occupies an entire city block on a 0.45-acre lot. The 9,200 square foot property consists of two contiguous buildings across two legal lots, featuring 222 feet of street frontage and parking at the alley behind the building. The property generates a net operating income of $175,000 with a capitalization rate of 5.2%. The nine multi-tenant spaces offer flexibility for a new owner to collect income from leased portions while occupying remaining space. Situated in HUB and Opportunity Zones, the MU-3A zoning allows for retail, childcare, and medical uses.
Key Highlights
- Entire city block property on 0.45 acres with 222 feet of street frontage.
- $175,000 Net Operating Income (NOI) with a 5.2% CAP rate.**
- Located in HUB and Opportunity Zones.
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
$194,304
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
5.92%
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%
$3,886,080
$3.9M
Cap Rate 7%
$2,775,771
$2.8M
Cap Rate 9%
$2,158,933
$2.2M
Market Conditions
NOI Build-Up for 9,200 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
$353.3K $38.40/SF
− Vacancy
−$42.4K −$4.61/SF
EGI
$310.9K $33.79/SF
− OpEx
−$116.6K −$12.67/SF
NOI
$194.3K $21.12/SF
Area
ZIP 20019
Vacancy
12.00%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
37.50%
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%
$3,886,080
Cap Rate 7%
$2,775,771
Cap Rate 9%
$2,158,933
Alternative Uses
Best Use
Mixed Use
$2.78M
$2.43M – $3.24M
NOI $194,304 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.94M
$4.33M – $5.77M
NOI $346,073 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with income and development potential in Washington, DC.
Where is this mixed-use property located?
The property is located at 2900 Minnesota Ave Se Washington, DC.
What is the asking price?
The asking price for this property is $3,280,000.
What are key features of this property?
This property features: Entire city block property on 0.45 acres with **222 feet of street frontage**.; $175,000 Net Operating Income (NOI) with a 5.2% CAP rate.**; Located in HUB and Opportunity Zones.
