Mixed-Use Development
901 2nd Street Northeast Washington, DC 20002
For Sale
Contact for pricing
MU-5A mixed-use property with redevelopment potential for approximately nine apartment units near Union Station and Union Market.
Property Size1,649 SF
Price / SF$884.17
Days on Market62
Property Features for 901 2nd Street Northeast
General Information
Standard status
Active
Size
1,649 SF
Property subtype
Retail
Building Details
Year Built
1903
Listing Agency:
Marcus & Millichap - Washington, D.C.
(202) 536-3742
Listed By:
Krystin Gambrell · License #SP40004522
Source:
Crexi
Added: May 29
Changed: Jul 22
Last Checked: Jul 29 at 12:31PM
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 Marcus & Millichap - Washington, D.C.
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present 901 2nd Street NE in Washington, D.C., a mixed-use development or owner/user opportunity in the NoMa/Union Market submarket. The property offers a redevelopment path under MU-5A zoning, with the potential to construct approximately nine apartment units as a matter-of-right, or to develop a boutique multifamily or condominium asset totaling approximately 5,771 square feet. The existing building configuration also supports an owner/user plan to occupy all or a portion of the property while retaining future redevelopment optionality.
The site is positioned on a prominent corridor just blocks from Union Station and within walking distance of Union Station, which provides access to Amtrak, MARC, Metro, and intercity bus service. It is also minutes from Union Market, a retail and dining destination. Nearby employers highlighted include Google, NPR, SiriusXM, and the U.S. Department of Justice, with retailers and amenities noted such as Trader Joe’s, Whole Foods, REI, Starbucks, Chick-fil-A, CVS, and Giant.
Based on projected stabilization, the property is anticipated to achieve a 7.41%+ stabilized CAP rate. The location’s visibility and accessibility are expected to support a range of uses, including commercial, creative office, showroom, retail, and live/work.
The site is positioned on a prominent corridor just blocks from Union Station and within walking distance of Union Station, which provides access to Amtrak, MARC, Metro, and intercity bus service. It is also minutes from Union Market, a retail and dining destination. Nearby employers highlighted include Google, NPR, SiriusXM, and the U.S. Department of Justice, with retailers and amenities noted such as Trader Joe’s, Whole Foods, REI, Starbucks, Chick-fil-A, CVS, and Giant.
Based on projected stabilization, the property is anticipated to achieve a 7.41%+ stabilized CAP rate. The location’s visibility and accessibility are expected to support a range of uses, including commercial, creative office, showroom, retail, and live/work.
Key Highlights
- MU‑5A zoned mixed‑use property with redevelopment potential for approximately 9 apartment units as a matter‑of‑right
- Approximately 5,771 SF planned boutique multifamily/condominium development opportunity
- Year built: 1903
Financial Insights For Office B
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 | $92.6k | $56.16 |
| − Vacancy | −$19.3k | −$11.68 |
| EGI | $73.3k | $44.48 |
| − OpEx | −$18.3k | −$11.12 |
| NOI | $55.0k | $33.36 |
1,649 SF · lease $56.16/SF/yr · vacancy 20.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$785.8K
$687.6K – $916.8K
NOI $55,009 @ 7.0% cap · market cap 3.77%
Second Best
Retail
$527.5K
$461.5K – $615.4K
NOI $36,923 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$851.4K
$745.0K – $993.3K
NOI $59,597 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - MU-5A mixed-use property with redevelopment potential for approximately nine apartment units near Union Station and Union Market.
Where is this apartment building located?
The property is located at 901 2nd Street Northeast Washington, DC.
What is the asking price?
The asking price for this property is $1,458,000.
What are key features of this property?
This property features: MU‑5A zoned mixed‑use property with redevelopment potential for approximately 9 apartment units as a matter‑of‑right; Approximately 5,771 SF planned boutique multifamily/condominium development opportunity; Year built: 1903
