Mount Rainier Restaurant
For Sale
$649,000
4009 34th St, Mount Rainier, MD 20712
Two-story restaurant space in historic Mount Rainier Town Center.
Property Size2,300 SF
Price / SF$282.17
Days on Market674
Property Features for 4009 34th St
General Information
Standard status
Active
Size
2,300 SF
Taxes and HOA fees
Annual Taxes
$6,453
Listing Agency:
Congressional Commercial , LLC
(202) 215-6095
Listed By:
Langdon D Hample
(202) 215-6095
Source:
Exprealty
Added: Oct 26, 2024
Changed: Aug 20
Last Checked: Aug 29 at 1:08PM
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 Congressional Commercial , LLC
Investment Insights
Based on property information with market context.
Located in the historic Mount Rainier Town Center, the property at 4009 34th Street, Mount Rainier MD 20743 offers approximately 2,300 square feet across two levels. The building features a first-floor dining area and open kitchen/grille. The fully operational lower level includes an office, a half bath, built-in refrigeration, a triple sink, and additional freezer space. Most recently, the building was occupied by a fast-casual restaurant and catering business. The property is being repaired due to a fire in late 2024, and completion of these repairs will be a condition of closing. The building is equipped with 3-phase power, natural gas, and municipal water and sewer. The updated kitchen includes a new hood and exhaust system, grease trap, and multiple triple and hand sinks, with a half bath on each level. The main level features vintage 1930s tin ceilings, an original skylight, and bay windows. Zoned L-MUTC, the property allows for a variety of commercial uses. It is located off Rhode Island Avenue, near retailers, restaurants, City Hall, and bus stops, and is close to the MD/DC line at Eastern Avenue. The local area is serviced by WMATA Metro Bus lines with access to Metro’s Green Line.
Key Highlights
- Fully operational lower level with office, 1/2 bath, built‑in refrigeration, triple sink, and freezer space.
- Updated kitchen featuring new hood and exhaust system, grease trap, and multiple triple and hand sinks.
- Located in the historic Mount Rainier Town Center, known for walkable shops and vibrant arts.
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
$51,938
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
8.00%
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%
$1,038,760
$1.0M
Cap Rate 7%
$741,971
$742.0K
Cap Rate 9%
$577,089
$577.1K
Market Conditions
NOI Build-Up for 2,300 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
$78.1K $33.96/SF
− Vacancy
−$8.9K −$3.85/SF
EGI
$69.3K $30.11/SF
− OpEx
−$17.3K −$7.53/SF
NOI
$51.9K $22.58/SF
Area
Prince George's County, MD
Vacancy
11.34%
Lease Rate
$33.96 /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%
$1,038,760
Cap Rate 7%
$741,971
Cap Rate 9%
$577,089
Alternative Uses
Best Use
Specialty Retail
$742.0K
$649.2K – $865.6K
NOI $51,938 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 24%
Shell
Shops & Services
4,394 visits/mo
0.4 miles
Las Margaritas
Dining
2,014 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
1,932 visits/mo
0.5 miles
Demographics for 20712, MD
9,526
Population
4,271
Households
2.2
Avg Household Size
35
Median Age
34%
College-Educated
83%
High-School Grad
0.7 sq mi
ZIP Area
13,609
Density / Sq Mi
$68,452
Median Household Income
$42,881
Median Earnings
$1,442
Median Rent
$531,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
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 - Two-story restaurant space in historic Mount Rainier Town Center.
Where is this conventional restaurant located?
The property is located at 4009 34th St Mount Rainier, MD.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Fully operational lower level with office, 1/2 bath, built‑in refrigeration, triple sink, and freezer space.; Updated kitchen featuring new hood and exhaust system, grease trap, and multiple triple and hand sinks.; Located in the historic Mount Rainier Town Center, known for walkable shops and vibrant arts.
