700 H NE St Washington, DC 20002-3627
- Retail space
- 8,904 SF
- 0.19 lot acres
Current Use by Public Records
- Retail space
Property Details for 700 H NE St
- Year built
- 1949
- Construction
- BRICK
- Lot size
- 0.19 lot acres
- Property size
- 8,904 SF
- Zone code
- NC-16
- Property type
- Retail space
- APN
- 0889 0044
- APU
- 8890044
Description
This exceptional investment opportunity presents a fee-simple ownership of a 17,356 square foot Nike flagship store located at 700 H St NE, Washington, DC 20002. The property, built in 2022 and situated on a 0.19-acre lot, boasts a strong 100% occupancy rate with a Net Lease (NN) agreement in place. The current lease, commencing February 16, 2023, and expiring February 28, 2028, offers a remaining term of approximately 3.3 years, with two 5-year renewal options. The annual rent includes a 2% increase, ensuring consistent income growth. The property's Net Operating Income (NOI) is $668,116, resulting in a 4.61% cap rate. The asking price is $14,500,000, translating to a price per square foot of $835.45. This represents a rare opportunity to acquire a freestanding, single-tenant Nike store in a highly desirable location on the revitalized H Street corridor, known for its phenomenal demographics. The tenant, Nike (NYSE: NKE), holds an AA- rating from S&P, providing a strong corporate guarantee. The building underwent a full refurbishment in 2022.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $190,000
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Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Longitude
- -76.9958
- Latitude
- 38.9004
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
