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    1924 Benning Rd Washington, DC 20002

    Sponsored
    For Sale
    $950,000

    Prime DC location, high cap rate, value-add opportunity.

    Property size:
    2,343 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 1924 Benning Rd NE, Washington, DC 20002, presents a compelling investment opportunity. The 2,343 square foot building, constructed in 1925 and extensively renovated in 2023, boasts a strong 8.77% cap rate and a current NOI of $87,716. The property features a street-level creative office or storefront space (currently 33.33% occupied), ideal for owner-occupancy, coupled with two residential units above, generating rental income. The current owner is open to a sale-leaseback of the office space, providing immediate income generation for investors. Situated on a 1,371 square foot lot, the property includes two parking spaces. The MU-5A zoning allows for significant future development potential, leveraging the substantial 6,486 square feet of available air rights. This highly visible location, near the intersection of H Street, Bladensburg Rd, Benning Rd, and Maryland Ave, benefits from high foot traffic and proximity to Hechinger Mall and the DC Streetcar. The asking price is $950,000, translating to $405.46 per square foot. This three-story building offers a unique blend of income-producing assets and redevelopment potential in a thriving Washington, D.C. neighborhood.

    Property Features for 1924 Benning Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,343 SF

    Building Details

    Year Built/Renovated
    1925/2023
    Buildings
    1
    Stories
    3
    Units
    3

    HighLights

    • 2,343 SF mixed‑use building, extensively renovated in 2023, offering 8.77% cap rate and $87,716 NOI.
    • Street‑level, 1,048 SF creative office/retail space (33.33% occupied), ideal for owner‑occupancy, plus two residential units.
    • Sale‑leaseback option available for the office space.
    • MU‑5A zoning with 6,486 SF of available air rights.
    • High‑visibility location near H St, Bladensburg Rd, Benning Rd, and Maryland Ave, close to Hechinger Mall and the DC Streetcar.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Washington
    County
    District Of Columbia
    State
    District of Columbia
    Longitude
    -76.9752724
    Latitude
    38.8989413

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    FAQs

    What type of property is this?
    Individual retail property - Prime DC location, high cap rate, value-add opportunity.
    Where is this individual retail property located?
    The property is located at 1924 Benning Rd 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: 2,343 SF mixed-use building, extensively renovated in 2023, offering 8.77% cap rate and $87,716 NOI.; Street-level, 1,048 SF creative office/retail space (33.33% occupied), ideal for owner-occupancy, plus two residential units.; Sale-leaseback option available for the office space.
    Request Owner's contact information
    1924 Benning Rd Washington, DC 20002
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    Washington, DC 20002
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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
    1924 Benning Rd Washington, DC 20002
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