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    Versatile Building in Brookland Neighborhood Title is generated by Realmo AI

    831 Varnum St NE, Washington, DC 20017

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    Four-story, 18,616 SF building suitable for various uses.

    Type:Special Purpose
    Property size:
    18,616 SF
    Price / SF:
    $290/SF
    Added:
    Aug 20, 2024
    Days on Market:
    686
    Last Refresh:
    Jul 4 at 10:41 am

    Property Features for 831 Varnum St NE

    General Information

    Standard status
    Active
    Size
    18,616 SF
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1917

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    Jonathan Reneau
    Jonathan Reneau

    Listing office NAI Michael

    Listing date Aug 20, 2024

    Source Crexi

    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 NAI Michael

    HighLights

    • Move‑in ready condition with recent renovations and roof replacement.
    • Ideal for student housing, group home, or religious house.
    • Prime Washington DC location in the Brookland neighborhood, near Catholic University.
    • Extensive amenities including a full commercial kitchen, group dining area with outdoor patio seating, and existing chapel.
    • Elevator service, multiple common areas and libraries, and a full sprinkler system.
    • Excess land for parking expansion and backup power generator.

    Overview

    Located in the Brookland neighborhood of northeast Washington, DC, 831 Varnum St NE is a four-story building offering approximately 18,616 square feet of space. The property is suitable for student housing, a group home, or a religious house. The building is in move-in ready condition, having been well maintained and recently renovated. It features a full commercial kitchen, a group dining area with outdoor patio seating, an existing chapel, various room layouts, multiple common areas and libraries, and elevator service. Additional amenities include excess land for parking expansion, a backup power generator, and a full sprinkler system. The property has been meticulously maintained, with a recent roof replacement and excess power capacity. The location at the end of a street provides both privacy and convenience. The site is less than 5 minutes from the Catholic University of America, which has over 5,000 students. The surrounding area is home to numerous nonprofits and religious entities, such as Ascension Living Carol Manor, Divine Word House, Marist Seminary, Mundo Verde Charter School, Washington Jesuit Academy, Scrilli School, and Providence Health Center.

    Local Financial Insights For Healthcare Medical

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $625.5k $33.60
    − Vacancy −$50.0k −$2.69
    EGI $575.5k $30.91
    − OpEx −$230.2k −$12.36
    NOI $345.3k $18.55
    18,616 SF · lease $33.60/SF/yr · vacancy 8.00% · expense 40.00%

    Alternative Uses

    Best Use
    Healthcare Medical
    $4.93M
    $4.32M – $5.75M (±1% cap)
    NOI $345,275 @ 7.0% cap · market cap 6.39%
    Second Best
    Apartment 5plus
    $4.42M
    $3.87M – $5.16M (±1% cap)
    NOI $309,314 @ 7.0% cap · market cap 5.73%
    Theoretical Best
    Office A
    $9.58M
    $8.38M – $11.17M (±1% cap)
    NOI $670,283 @ 7.0% cap · market cap 12.41%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -76.9937415
    Latitude
    38.941654

    FAQs

    What type of property is this?
    Church & religious facility - Four-story, 18,616 SF building suitable for various uses.
    Where is this church & religious facility located?
    The property is located at 831 Varnum St NE Washington, DC.
    What is the asking price?
    The asking price for this property is $5,400,000.
    What are key features of this property?
    This property features: Move‑in ready condition with recent renovations and roof replacement.; Ideal for student housing, group home, or religious house.; Prime Washington DC location in the Brookland neighborhood, near Catholic University.
    (301) 918-2923 Call to check price and availability
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