Mixed-Use Office and Storage
For Sale
$2,850,000
517-519 11Th Street SE, Washington, DC 20003
Renovated 1933 Art Deco building with office and self-storage plus two residential apartment units.
Property Size11,000 SF
Price / SF$259.09
Days on Market362
Property Features for 517-519 11Th Street SE
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Commercial
Zoning
MU-4
Net Operating Income
$180,000
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$49,202
Amenities
Hardwood,Terrazzo,Ceramic Tile,Concrete
Natural Gas
Yes
3
Urban Land-Sassafras-Chillum
Public
0.09
No
Assessor
On Street
Brick/Mortar
10090.00
1069720.00
Building Details
Year Built
1933
Listing Agency:
Luxe Real Estate LLC
(856) 222-0077
Listed By:
Ryan LeBon
Source:
Thetristaterealestategroup
Added: Sep 8, 2025
Changed: Sep 3
Last Checked: Sep 4 at 3:49AM
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 Luxe Real Estate LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial building was built in 1933 and has been beautifully renovated, offering a combination of commercial and residential space. The building is zoned MU-4 and includes a variety of commercial uses such as office space and self-storage. Interior features include high ceilings, oversized windows, skylights, and large open meeting rooms with an abundance of collaborative work spaces.
The property also includes two updated and spacious residential apartment units, each with three bedrooms and two bathrooms, along with a shared rooftop terrace. Located near the U.S. Capitol, House and Senate offices, Eastern Market, Barracks Row, and Union Station, the property sits just off Pennsylvania Avenue between two three-line metro stations (O, B, S). The area is surrounded by local businesses and serves a mix of government-related tenants.
The property also includes two updated and spacious residential apartment units, each with three bedrooms and two bathrooms, along with a shared rooftop terrace. Located near the U.S. Capitol, House and Senate offices, Eastern Market, Barracks Row, and Union Station, the property sits just off Pennsylvania Avenue between two three-line metro stations (O, B, S). The area is surrounded by local businesses and serves a mix of government-related tenants.
Key Highlights
- Renovated 1933 Art Deco mixed‑use building with office and self‑storage plus 2 residential apartment units
- Zoned MU‑4 and offers multiple commercial uses including office and self storage
- Includes two updated 3‑bedroom, 2‑bath apartment units with a shared rooftop terrace
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
$197,089
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
6.92%
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%
$3,941,780
$3.9M
Cap Rate 7%
$2,815,557
$2.8M
Cap Rate 9%
$2,189,878
$2.2M
Market Conditions
NOI Build-Up for 11,000 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
$297.0K $27.00/SF
− Vacancy
−$15.4K −$1.40/SF
EGI
$281.6K $25.60/SF
− OpEx
−$84.5K −$7.68/SF
NOI
$197.1K $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%
$3,941,780
Cap Rate 7%
$2,815,557
Cap Rate 9%
$2,189,878
Alternative Uses
Best Use
Office B
$4.99M
$4.37M – $5.82M
NOI $349,272 @ 7.0% cap · market cap 12.26%
Second Best
Multifamily LT 5
$2.82M
$2.46M – $3.28M
NOI $197,089 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$5.66M
$4.95M – $6.60M
NOI $396,063 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 20003, DC
36,501
Population
20,817
Households
1.8
Avg Household Size
35
Median Age
81%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
15,870
Density / Sq Mi
$159,604
Median Household Income
$107,846
Median Earnings
$2,630
Median Rent
$954,200
Median Home Value
Market
Vacancy Rate% for Office in Washington, DC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated 1933 Art Deco building with office and self-storage plus two residential apartment units.
Where is this office building located?
The property is located at 517-519 11Th Street SE Washington, DC.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Renovated 1933 Art Deco mixed‑use building with office and self‑storage plus 2 residential apartment units; Zoned MU‑4 and offers multiple commercial uses including office and self storage; Includes two updated 3‑bedroom, 2‑bath apartment units with a shared rooftop terrace
