Mixed-Use Office and Residential
For Sale
$2,850,000
517519 11TH STREET, Washington, DC 20003
Renovated 1933 Art Deco building with office and self-storage components plus two updated three-bedroom, two-bath residences.
Property Size10,090 SF
Price / SF$282.46
Days on Market338
Property Features for 517519 11TH STREET
General Information
Standard status
Active
Size
10,090 SF
Property subtype
Mixed Use
Zoning
MU-4
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$49,202
Amenities
shared rooftop terrace
high ceilings
oversized windows
skylights
large open meeting rooms
collaborative work spaces
Central Air
3
Hardwood, Ceramic Tile, Concrete, Terrazzo
Rubber
Parking.
On Street.
Other.
Building Details
Year Built
1933
Stories
3
Construction
Art Deco
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(202) 270-6368
Listed By:
Peter Grimm · License #SP98366089
(202) 270-6368
Source:
Xome
Added: Sep 6, 2025
Changed: Aug 7
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 Berkshire Hathaway HomeServices PenFed Realty
Investment Insights
Based on property information with market context.
This turn-key mixed-use property is housed in a beautifully renovated 1933 Art Deco building and offers a combination of commercial and residential space. The building is zoned MU-4 and includes commercial use space that the offering states supports office and self storage. Interior highlights include high ceilings, oversized windows, and skylights, along with large open meeting rooms and an abundance of collaborative work spaces.
The residential component consists of two updated and spacious three-bedroom, two-bath apartment units, which share a rooftop terrace.
The property is positioned near prominent government and transit destinations, including the U.S. Capitol area, House and Senate offices, Eastern Market, Barracks Row, and Union Station, and is described as being just off Pennsylvania Avenue between two three-line Metro stations (O, B, S).
The residential component consists of two updated and spacious three-bedroom, two-bath apartment units, which share a rooftop terrace.
The property is positioned near prominent government and transit destinations, including the U.S. Capitol area, House and Senate offices, Eastern Market, Barracks Row, and Union Station, and is described as being just off Pennsylvania Avenue between two three-line Metro stations (O, B, S).
Key Highlights
- Renovated 1933 Art Deco mixed‑use building with office and self‑storage components plus two residential units
- Zoned MU‑4, offering a variety of commercial uses including office and self‑storage
- Includes two updated 3‑bedroom, 2‑bath residential 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
$180,785
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
6.34%
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%
$3,615,700
$3.6M
Cap Rate 7%
$2,582,643
$2.6M
Cap Rate 9%
$2,008,722
$2.0M
Market Conditions
NOI Build-Up for 10,090 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
$272.4K $27.00/SF
− Vacancy
−$14.2K −$1.40/SF
EGI
$258.3K $25.60/SF
− OpEx
−$77.5K −$7.68/SF
NOI
$180.8K $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%
$3,615,700
Cap Rate 7%
$2,582,643
Cap Rate 9%
$2,008,722
Alternative Uses
Best Use
Office B
$4.58M
$4.00M – $5.34M
NOI $320,378 @ 7.0% cap · market cap 11.24%
Second Best
Multifamily LT 5
$2.58M
$2.26M – $3.01M
NOI $180,785 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,298 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
638
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 components plus two updated three-bedroom, two-bath residences.
Where is this office building located?
The property is located at 517519 11TH STREET 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 components plus two residential units; Zoned MU‑4, offering a variety of commercial uses including office and self‑storage; Includes two updated 3‑bedroom, 2‑bath residential apartment units with a shared rooftop terrace
