Three-Level Retail Storefront with
For Sale
$1,498,000
33223324 GEORGIA AVENUE, Washington, DC 20010
Three-level retail property with prominent street frontage and two rear parking pads for flexible use.
Property Size2,800 SF
Price / SF$535
Days on Market99
Property Features for 33223324 GEORGIA AVENUE
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
2
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$21,715
Amenities
A/C - Other
3
Ceramic Tile
Built Up
Parking.
On Street.
Building Details
Year Built
1910
Stories
3
Listing Agency:
W F Chesley Real Estate, LLC.
(301) 509-5169
Listed By:
Andrew MacPherson
(301) 509-5169
Source:
Xome
Added: May 3
Changed: Aug 8
Last Checked: Aug 8 at 4:00AM
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 W F Chesley Real Estate, LLC.
Investment Insights
Based on property information with market context.
This for-sale three-level retail property at 3322–3324 Georgia Avenue NW offers a flexible, multi-use footprint with prominent street frontage and two rear parking pads. The space is described as a blank canvas for an owner or tenant fit-out, supporting a range of potential concepts.
The property is positioned in the Petworth/Park View area of northwest Washington, DC, with convenient access to multiple bus lines. The Georgia Ave–Petworth Metro station is approximately a third of a mile away.
The listing describes the corridor as transitioning from primarily residential to a more active commercial environment, with several new residential and mixed-use projects completed or underway nearby.
The property is positioned in the Petworth/Park View area of northwest Washington, DC, with convenient access to multiple bus lines. The Georgia Ave–Petworth Metro station is approximately a third of a mile away.
The listing describes the corridor as transitioning from primarily residential to a more active commercial environment, with several new residential and mixed-use projects completed or underway nearby.
Key Highlights
- Approximately 2,800 SF, three‑level property built in 1910
- Prominent street frontage on Georgia Ave
- Two rear parking pads plus on‑street parking
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
$44,923
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
3.00%
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%
$898,460
$898.5K
Cap Rate 7%
$641,757
$641.8K
Cap Rate 9%
$499,144
$499.1K
Market Conditions
NOI Build-Up for 2,800 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
$67.2K $24.00/SF
− Vacancy
−$3.0K −$1.08/SF
EGI
$64.2K $22.92/SF
− OpEx
−$19.3K −$6.88/SF
NOI
$44.9K $16.04/SF
Area
Washington, DC
Vacancy
4.50%
Lease Rate
$24.00 /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%
$898,460
Cap Rate 7%
$641,757
Cap Rate 9%
$499,144
Alternative Uses
Best Use
Retail
$641.8K
$561.5K – $748.7K
NOI $44,923 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,816 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,844
Businesses Nearby
122k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 31%
Superstores 24%
Hotels & Casinos 4%
Target
Superstores
28,807 visits/mo
0.1 miles
McDonald's
Dining
28,323 visits/mo
0.3 miles
7-Eleven
Shops & Services
15,280 visits/mo
0.2 miles
KFC
Dining
10,393 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,585 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
Market
Vacancy Rate% for Retail in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-level retail property with prominent street frontage and two rear parking pads for flexible use.
Where is this storefront property located?
The property is located at 33223324 GEORGIA AVENUE Washington, DC.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Approximately 2,800 SF, three‑level property built in 1910; Prominent street frontage on Georgia Ave; Two rear parking pads plus on‑street parking
