Three-Level Restaurant
For Sale
Contact for pricing
3217 Georgia Avenue Northwest, Washington, DC 20010
Renovated restaurant property with bars, commercial kitchen, rooftop access, and multiple customer entrances along Georgia Avenue NW.
Property Size3,121 SF
Lot Size0.03 Acres
Price / SF$544.70
Days on Market23
Property Features for 3217 Georgia Avenue Northwest
General Information
Standard status
Active
Size
3,121 SF
Lot size
0.03 Acres
Property subtype
Retail
Zoning
NMU-4/GA
Restaurant
Commercial Hood
Yes
Patio
No
Equipment Included
Yes
Additional Details
Road Access
Yes
Sprinkler System
Yes
Amenities
dumbwaiter
Building Details
Year Built
1909
Year Renovated
2021
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Feldman Ruel
Listed By:
Ryan Smith · License #DC SP98374805
Source:
Crexi
Added: Jul 21
Changed: Aug 5
Last Checked: Aug 11 at 7:37PM
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 Feldman Ruel
Investment Insights
Based on property information with market context.
This vacant restaurant property contains 3,121 square feet of leasable area across three levels on a 1,420-square-foot lot. Renovated in 2021, the building includes multiple bars, a full kitchen with hood system, five restrooms, seating areas, office space, and a dumbwaiter serving all three floors. Each level has an open layout, ceiling heights exceeding 10 feet, and sprinkler protection. Equipment associated with the restaurant operation is included.
Two access points address Georgia Avenue NW, while the upper floors can also be reached through an interior vestibule and stairwell. The second level opens onto the roof of the first level, creating the possibility for a future outdoor patio. Located at 3217 Georgia Avenue Northwest in Washington, D.C., the property carries NMU-4/GA zoning. The zoning permits use of untapped FAR for additions and allows another by-right use, including multifamily.
Two access points address Georgia Avenue NW, while the upper floors can also be reached through an interior vestibule and stairwell. The second level opens onto the roof of the first level, creating the possibility for a future outdoor patio. Located at 3217 Georgia Avenue Northwest in Washington, D.C., the property carries NMU-4/GA zoning. The zoning permits use of untapped FAR for additions and allows another by-right use, including multifamily.
Key Highlights
- 3,121 SF of leasable area across three levels
- 1,420‑square‑foot NMU‑4/GA‑zoned lot
- Renovated in 2021 with included restaurant equipment
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
$59,633
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
3.51%
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%
$1,192,660
$1.2M
Cap Rate 7%
$851,900
$851.9K
Cap Rate 9%
$662,589
$662.6K
Market Conditions
NOI Build-Up for 3,121 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
$82.4K $26.40/SF
− Vacancy
−$2.9K −$0.92/SF
EGI
$79.5K $25.48/SF
− OpEx
−$19.9K −$6.37/SF
NOI
$59.6K $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 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%
$1,192,660
Cap Rate 7%
$851,900
Cap Rate 9%
$662,589
Alternative Uses
Best Use
Specialty Retail
$851.9K
$745.4K – $993.9K
NOI $59,633 @ 7.0% cap · market cap 3.51%
Second Best
Retail
$715.3K
$625.9K – $834.6K
NOI $50,073 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.61M
$1.40M – $1.87M
NOI $112,374 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
5,303
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Beauty & Spa 15%
Electronics 12%
BP
Shops & Services
8,046 visits/mo
0.2 miles
Bank of America
Shops & Services
4,955 visits/mo
0.2 miles
Ace Cash Express
Shops & Services
2,097 visits/mo
0.4 miles
Best Cuts
Beauty & Spa
1,956 visits/mo
0.5 miles
Cricket Wireless Authorized Retailer
Electronics
1,261 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Renovated restaurant property with bars, commercial kitchen, rooftop access, and multiple customer entrances along Georgia Avenue NW.
Where is this conventional restaurant located?
The property is located at 3217 Georgia Avenue Northwest Washington, DC.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3,121 SF of leasable area across three levels; 1,420‑square‑foot NMU‑4/GA‑zoned lot; Renovated in 2021 with included restaurant equipment
