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 Size8,290 SF
Lot Size0.45 Acres
Price / SF$395.66
Days on Market230
Property Features for 2900 Minnesota Ave SE
General Information
Standard status
Active
Size
8,290 SF
Lot size
0.45 Acres
Building Details
Year Built
1948
Listing Agency:
Fairfax Realty
Listed By:
Kevin B Shin · License #0225069693
(703) 395-3123
Source:
Teamgaddy
Added: Mar 5
Changed: Oct 2
Last Checked: Oct 19 at 8:10AM
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
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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 / Yr
$175,085
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,501,700
$3.5M
Cap Rate 7%
$2,501,214
$2.5M
Cap Rate 9%
$1,945,389
$1.9M
Market Conditions
NOI Build-Up for 8,290 SF
Gross rent
$318.3K $38.40/SF
− Vacancy
−$38.2K −$4.61/SF
EGI
$280.1K $33.79/SF
− OpEx
−$105.1K −$12.67/SF
NOI
$175.1K $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 Rate 5%
$3,501,700
Cap Rate 7%
$2,501,214
Cap Rate 9%
$1,945,389
Alternative Uses
Best Use
Mixed Use
$2.50M
$2.19M – $2.92M
NOI $175,085 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.45M
$3.90M – $5.20M
NOI $311,842 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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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.
