Three-Tenant Strip
For Sale
$600,000
6219 6219-6221 Dix Street Ne A, Washington, DC 20019
Two vacant spaces require renovation; an operating liquor store occupies the remaining commercial unit.
Property Size1,414 SF
Price / SF$424.33
Days on Market18
Property Features for 6219 6219-6221 Dix Street Ne A
General Information
Standard status
Active
Size
1,414 SF
Property Condition
Severity
Repairs Needed
Evidence
Both require renovation before occupancy.
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Building Details
Year Built
1932
Tenancy
Multi
Listing Agency:
Metro Investment Properties, LLC
(202) 468-8109
Listed By:
Christopher L Dixon · License #PB98368769
Source:
Gklegacygroup
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 25 at 4:43AM
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 Metro Investment Properties, LLC
Investment Insights
Based on property information with market context.
This three-tenant strip center includes two vacant components requiring renovation before occupancy. One is a former barber shop, while the other is a vacant one-bedroom apartment positioned above the shop. The third component is an operating liquor store with storage space below.
The liquor store is leased on a month-to-month basis. Its owner is open to discussing both a rent increase and an extended lease term. Constructed in 1932, the property is located at 6219-6221 Dix Street NE in Washington, DC, near the DC border.
The liquor store is leased on a month-to-month basis. Its owner is open to discussing both a rent increase and an extended lease term. Constructed in 1932, the property is located at 6219-6221 Dix Street NE in Washington, DC, near the DC border.
Key Highlights
- Three‑tenant strip center at the DC border
- Two vacant components require renovation before occupancy
- Former barber shop with a vacant one‑bedroom apartment above
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
$27,953
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
4.66%
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%
$559,060
$559.1K
Cap Rate 7%
$399,329
$399.3K
Cap Rate 9%
$310,589
$310.6K
Market Conditions
NOI Build-Up for 1,414 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
$39.0K $27.60/SF
− Vacancy
−$1.8K −$1.24/SF
EGI
$37.3K $26.36/SF
− OpEx
−$9.3K −$6.59/SF
NOI
$28.0K $19.77/SF
Area
ZIP 20019
Vacancy
4.50%
Lease Rate
$27.60 /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%
$559,060
Cap Rate 7%
$399,329
Cap Rate 9%
$310,589
Alternative Uses
Best Use
Specialty Retail
$399.3K
$349.4K – $465.9K
NOI $27,953 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$346.6K
$303.3K – $404.3K
NOI $24,260 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$759.9K
$664.9K – $886.5K
NOI $53,190 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Groceries 15%
Dollar Tree
Shops & Services
15,673 visits/mo
0.4 miles
Family Dollar
Shops & Services
14,438 visits/mo
0.4 miles
Save-A-Lot
Groceries
7,785 visits/mo
0.4 miles
BP
Shops & Services
4,812 visits/mo
0.2 miles
Shell
Shops & Services
4,390 visits/mo
0.3 miles
Demographics for 20019, DC
59,601
Population
29,244
Households
2
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
6.1 sq mi
ZIP Area
9,771
Density / Sq Mi
$57,031
Median Household Income
$49,707
Median Earnings
$1,174
Median Rent
$437,600
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?
Strip mall - Two vacant spaces require renovation; an operating liquor store occupies the remaining commercial unit.
Where is this strip mall located?
The property is located at 6219 6219-6221 Dix Street Ne A Washington, DC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑tenant strip center at the DC border; Two vacant components require renovation before occupancy; Former barber shop with a vacant one‑bedroom apartment above
