Three-Tenant Strip Center with Liquor
For Sale
$600,000
62196221 DIX STREET, Washington, DC 20019
Three-unit strip center includes an operating liquor store and two vacant units requiring renovation prior to occupancy.
Property Size1,414 SF
Price / SF$424.33
Days on Market31
Property Features for 62196221 DIX STREET
General Information
Standard status
Active
Size
1,414 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$30,987
Amenities
3
Building Details
Year Built
1932
Listing Agency:
Metro Investment Properties, LLC
(202) 468-8109
Listed By:
Christopher Dixon
(202) 468-8109
Source:
Xome
Added: Jul 13
Changed: Aug 8
Last Checked: Aug 12 at 3:14AM
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 is configured with two vacant spaces and one operating unit. The vacant units include a former barber shop and a vacant 1-bedroom apartment located above the barber shop; both require renovation before occupancy. The third unit is an operating liquor store with storage beneath.
The property is located in Washington, DC at the DC border, with an address listed at 62196221 DIX STREET NE Unit A (Washington, DC 20019).
The liquor store operates on a month-to-month lease, and the store owner is open to a rent increase and lease extension.
The property is located in Washington, DC at the DC border, with an address listed at 62196221 DIX STREET NE Unit A (Washington, DC 20019).
The liquor store operates on a month-to-month lease, and the store owner is open to a rent increase and lease extension.
Key Highlights
- Three‑tenant strip center with one operating liquor store and two vacant units
- Operating liquor store tenant on a month‑to‑month lease; seller is open to rent increase and lease extension
- Vacant former barber shop unit requires renovation prior to occupancy
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
$24,260
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
4.04%
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%
$485,200
$485.2K
Cap Rate 7%
$346,571
$346.6K
Cap Rate 9%
$269,556
$269.6K
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
$36.5K $25.80/SF
− Vacancy
−$1.8K −$1.29/SF
EGI
$34.7K $24.51/SF
− OpEx
−$10.4K −$7.35/SF
NOI
$24.3K $17.16/SF
Area
ZIP 20019
Vacancy
5.00%
Lease Rate
$25.80 /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%
$485,200
Cap Rate 7%
$346,571
Cap Rate 9%
$269,556
Alternative Uses
Best Use
Retail
$346.6K
$303.3K – $404.3K
NOI $24,260 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
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
Current Use
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 - Three-unit strip center includes an operating liquor store and two vacant units requiring renovation prior to occupancy.
Where is this strip mall located?
The property is located at 62196221 DIX STREET 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 with one operating liquor store and two vacant units; Operating liquor store tenant on a month‑to‑month lease; seller is open to rent increase and lease extension; Vacant former barber shop unit requires renovation prior to occupancy
