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    1716 Rhode Island Ave Washington, DC 20018

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    For Lease
    Contact for pricing

    0.17-Acre Lot, High Visibility

    Lot size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 0.17-acre commercial land parcel presents a unique investment opportunity in Washington, DC's vibrant Brookland neighborhood. Situated at 1716 Rhode Island Ave NE, this property boasts a highly visible location on a heavily trafficked thoroughfare, ideal for businesses seeking maximum exposure. The lot is conveniently located in the Brookland submarket, known for its charming atmosphere, historic sites, and proximity to the Catholic University of America and the Basilica of the National Shrine of the Immaculate Conception. The property includes an existing 878 square foot freestanding retail building, offering potential for immediate use or redevelopment. Its paved and fenced layout provides a secure and easily adaptable space for a variety of outdoor business concepts, such as a beer garden or similar ventures. Excellent transportation options are readily available, with the Brookland-CUA Metro Station and major roadways like Michigan Avenue and Rhode Island Avenue providing easy access to downtown DC and beyond. The surrounding area features a mix of residential and commercial properties, including the Monroe Street Market, offering a diverse range of amenities and attracting a substantial customer base. This property offers a rare chance to establish a thriving business in a sought-after location within the District of Columbia. The single-tenant zoning allows for focused development and streamlined operations. This is an exceptional opportunity to capitalize on the growing popularity and strong economic activity of the Brookland area.

    Property Features for 1716 Rhode Island Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1 SF

    Unit(s) available at that property

    Space
    0.17 AC Lot for Lease
    Size
    0 SF

    We can help!

    Listing Contact
    Shadi Ayyoubi
    Shadi Ayyoubi

    Learn more

    Property Insight Report

    HighLights

    • Freestanding retail building on a sizable lot.
    • High visibility from Rhode Island Ave NE.
    • High traffic count of 23,891 vehicles per day on Rhode Island Ave NE.
    • Located in a rapidly developing area.
    • Excellent site for businesses utilizing outdoor space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    District of Columbia
    State
    District of Columbia
    Longitude
    -76.9800642
    Latitude
    38.9275077

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    FAQs

    What type of property is this?
    Land - 0.17-Acre Lot, High Visibility
    Where is this land located?
    The property is located at 1716 Rhode Island Ave Washington, DC.
    What are key features of this property?
    This property features: Freestanding retail building on a sizable lot.; High visibility from Rhode Island Ave NE.; High traffic count of 23,891 vehicles per day on Rhode Island Ave NE.
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    1716 Rhode Island Ave Washington, DC 20018
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    Washington, DC 20018
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1716 Rhode Island Ave Washington, DC 20018
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    We can help!
    Listing Contact
    Shadi Ayyoubi
    Shadi Ayyoubi
    Real Estate License ID: DC
    Learn more
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