Mixed-Use Duplex with Rear Alley
For Sale
$985,000
2913 GEORGIA AVENUE NW, Washington, DC 20001
Vacant duplex with two separate units, rear-alley entrance, and two kitchens for flexible owner-occupy or rental use.
Property Size1,848 SF
Price / SF$447.73
Days on Market90
Property Features for 2913 GEORGIA AVENUE NW
General Information
Standard status
Active
Size
1,848 SF
Total Parking Spaces
2
Zoning
MU-4
Taxes and HOA fees
Annual Taxes
$32,127
Amenities
Central Air, Electric
Natural Gas, Hot Water
Gas Water Heater
On Street, Driveway
Building Details
Building Size
1,848 SF
Year Built
1907
Listing Agency:
THOMPSON PREMIER HOMES GROUP.
(240) 480-1616
Listed By:
Eboneese M Thompson
(240) 480-1616
Source:
Evrealestate
Added: Jun 3
Changed: Aug 25
Last Checked: Aug 30 at 2:03PM
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 THOMPSON PREMIER HOMES GROUP.
Investment Insights
Based on property information with market context.
This vacant mixed-use duplex is currently configured as two separate living units. The upper-level unit offers four bedrooms and two full bathrooms, while the lower-level unit provides a private one-bedroom, one-bath layout with its own entrance from the rear alley. The property includes two full kitchens, supporting flexibility for owner-occupancy, rental arrangements, or redevelopment planning.
The building is located along the Georgia Avenue NW corridor in Washington, DC, near Howard University and Howard University Hospital. The area is described as a vibrant mixed-use community with nearby restaurants, cafés, retail shops, neighborhood services, entertainment venues, and educational institutions, along with access to public transportation and parks.
From a tenant and user perspective, the two-kitchen, two-unit setup can accommodate multiple occupancy strategies, including workforce housing or a live-in arrangement with an additional unit. For buyers and developers, the property’s MU-4 zoning designation introduces options for residential, mixed-use, or commercial redevelopment, subject to applicable zoning requirements and approvals. Rear alley access and the potential for off-street parking are practical considerations for future planning. The property is offered for sale strictly as-is and is currently vacant.
The building is located along the Georgia Avenue NW corridor in Washington, DC, near Howard University and Howard University Hospital. The area is described as a vibrant mixed-use community with nearby restaurants, cafés, retail shops, neighborhood services, entertainment venues, and educational institutions, along with access to public transportation and parks.
From a tenant and user perspective, the two-kitchen, two-unit setup can accommodate multiple occupancy strategies, including workforce housing or a live-in arrangement with an additional unit. For buyers and developers, the property’s MU-4 zoning designation introduces options for residential, mixed-use, or commercial redevelopment, subject to applicable zoning requirements and approvals. Rear alley access and the potential for off-street parking are practical considerations for future planning. The property is offered for sale strictly as-is and is currently vacant.
Key Highlights
- Vacant mixed‑use property at 2913 Georgia Avenue NW, configured as two separate units with rear alley access
- Approximately 2,200 SF with two full kitchens, offering flexibility for rental income, owner‑occupancy, or redevelopment
- Upper‑level duplex: 4 bedrooms and 2 full bathrooms
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
$39,418
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
4.00%
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%
$788,360
$788.4K
Cap Rate 7%
$563,114
$563.1K
Cap Rate 9%
$437,978
$438.0K
Market Conditions
NOI Build-Up for 2,200 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
$59.4K $27.00/SF
− Vacancy
−$3.1K −$1.40/SF
EGI
$56.3K $25.60/SF
− OpEx
−$16.9K −$7.68/SF
NOI
$39.4K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /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%
$788,360
Cap Rate 7%
$563,114
Cap Rate 9%
$437,978
Alternative Uses
Best Use
Multifamily LT 5
$563.1K
$492.7K – $657.0K
NOI $39,418 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$522.2K
$456.9K – $609.2K
NOI $36,554 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,213 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 20001, DC
49,040
Population
26,728
Households
1.8
Avg Household Size
32
Median Age
78%
College-Educated
95%
High-School Grad
2.0 sq mi
ZIP Area
24,520
Density / Sq Mi
$138,730
Median Household Income
$94,675
Median Earnings
$2,464
Median Rent
$844,500
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?
Duplex - Vacant duplex with two separate units, rear-alley entrance, and two kitchens for flexible owner-occupy or rental use.
Where is this duplex located?
The property is located at 2913 GEORGIA AVENUE NW Washington, DC.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Vacant mixed‑use property at 2913 Georgia Avenue NW, configured as two separate units with rear alley access; Approximately 2,200 SF with two full kitchens, offering flexibility for rental income, owner‑occupancy, or redevelopment; Upper‑level duplex: 4 bedrooms and 2 full bathrooms
