Restaurant with Existing
For Sale
Contact for pricing
3124 Georgia Avenue Northwest, Washington, DC 20010
Restaurant space with built-out improvements on the Georgia Avenue corridor for quick concept transition and strong street visibility.
Property Size4,479 SF
Price / SF$502.34
Days on Market115
Property Features for 3124 Georgia Avenue Northwest
General Information
Standard status
Active
Size
4,479 SF
Property subtype
Retail
Zoning
MU4
Investment Type
Owner/User
Building Details
Year Built
1912
Year Renovated
2012
Listing Agency:
Marcus & Millichap
Listed By:
Bei Liu · License #MD 620601
Source:
Crexi
Added: Jun 15
Changed: Oct 6
Last Checked: Oct 5 at 5:13PM
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
Investment Insights
Based on property information with market context.
This property is offered for sale or lease and is built to support restaurant operations immediately, with existing restaurant infrastructure that includes buildout, layout, and key improvements. The current configuration is designed to facilitate a transition into a new food and beverage concept, helping reduce downtime and upfront execution needs relative to starting from a blank site.
The restaurant is located along the Georgia Avenue corridor in Washington, DC, where it benefits from a highly visible street presence. The property is positioned to capture consistent pedestrian and vehicular traffic, supporting an active, street-facing dining environment.
The existing improvements and operational infrastructure make the space well suited for operators looking to open a new concept without rebuilding core restaurant systems. It is also a strong fit for investors or tenants seeking flexible transaction terms for a restaurant asset in an area characterized by a dense residential base, ongoing multifamily development, and additional retail expansion that supports experiential dining and nightlife concepts.
The restaurant is located along the Georgia Avenue corridor in Washington, DC, where it benefits from a highly visible street presence. The property is positioned to capture consistent pedestrian and vehicular traffic, supporting an active, street-facing dining environment.
The existing improvements and operational infrastructure make the space well suited for operators looking to open a new concept without rebuilding core restaurant systems. It is also a strong fit for investors or tenants seeking flexible transaction terms for a restaurant asset in an area characterized by a dense residential base, ongoing multifamily development, and additional retail expansion that supports experiential dining and nightlife concepts.
Key Highlights
- Built in 1912 restaurant asset with existing restaurant infrastructure
- Restaurant space includes built‑out improvements, layout, and key improvements for a concept transition
- Located along the Georgia Avenue corridor with strong street presence and visibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,580
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,711,600
$1.7M
Cap Rate 7%
$1,222,571
$1.2M
Cap Rate 9%
$950,889
$950.9K
Market Conditions
NOI Build-Up for 4,479 SF
Gross rent
$118.2K $26.40/SF
− Vacancy
−$4.1K −$0.92/SF
EGI
$114.1K $25.48/SF
− OpEx
−$28.5K −$6.37/SF
NOI
$85.6K $19.11/SF
Area
Washington, DC
Vacancy
3.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,711,600
Cap Rate 7%
$1,222,571
Cap Rate 9%
$950,889
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,580 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,270 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,994
Businesses Nearby
129k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 35%
Electronics 22%
Beauty & Spa 2%
Giant
Groceries
45,769 visits/mo
0.4 miles
7-Eleven
Shops & Services
25,739 visits/mo
0.4 miles
Best Buy
Electronics
23,961 visits/mo
0.5 miles
BP
Shops & Services
8,046 visits/mo
0.3 miles
Bank of America
Shops & Services
4,955 visits/mo
0.3 miles
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Washington, DC
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space with built-out improvements on the Georgia Avenue corridor for quick concept transition and strong street visibility.
Where is this conventional restaurant located?
The property is located at 3124 Georgia Avenue Northwest Washington, DC.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Built in 1912 restaurant asset with existing restaurant infrastructure; Restaurant space includes built‑out improvements, layout, and key improvements for a concept transition; Located along the Georgia Avenue corridor with strong street presence and visibility
