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    505 Florida Ave Washington, DC 20001

    Sponsored
    For Sale
    $950,000

    Vacant, flexible zoning, great location.

    Property size:
    2,072 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional storefront property at 505 Florida Avenue NW, Washington, DC 20001, presents a compelling value-add investment opportunity. The 2,072 square foot building, constructed in 1900, sits on a 1,182 square foot lot and features two stories. Currently vacant, it offers immediate occupancy and significant upside potential. The property boasts flexible MU-4 zoning, allowing for a variety of uses including retail, office, and potentially residential development, subject to necessary approvals. With only two parking spaces on-site, additional parking solutions may need to be considered. Its prime location in the Ledroit Park neighborhood places it within walking distance of the Shaw-Howard University Metro station (Green Line) and Howard University, ensuring high visibility and accessibility. The property's proximity to a rapidly developing area, with approximately 1,675 multifamily units proposed or under construction nearby, further enhances its investment appeal. The asking price is $950,000. This location is also situated within an Opportunity Zone, potentially offering tax incentives for qualified investors. This is a rare chance to acquire a versatile property in a thriving Washington, D.C. neighborhood.

    Property Features for 505 Florida Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,072 SF

    Building Details

    Year Built
    1900
    Buildings
    1
    Stories
    2

    HighLights

    • Owner‑user optionality; delivered vacant at closing.
    • MU‑4 zoning allows high density and diverse uses including retail, office, and residential.
    • Less than 1,000 feet from the Shaw‑Howard University Metro Station (Green Line).
    • Located in an Opportunity Zone, offering significant tax incentives.
    • High‑growth area; over 1,675 multifamily units planned or under construction nearby.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Washington
    County
    District Of Columbia
    State
    District of Columbia
    Longitude
    -77.018861436691
    Latitude
    38.914928948589

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    FAQs

    What type of property is this?
    Individual retail property - Vacant, flexible zoning, great location.
    Where is this individual retail property located?
    The property is located at 505 Florida Ave Washington, DC.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Owner-user optionality; delivered vacant at closing.; MU-4 zoning allows high density and diverse uses including retail, office, and residential.; Less than 1,000 feet from the Shaw-Howard University Metro Station (Green Line).
    Request Owner's contact information
    505 Florida Ave Washington, DC 20001
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    Realmo Value Estimation

    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.

    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.

    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
    505 Florida Ave Washington, DC 20001
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