Capitol Hill Mixed-Use
707 8th St SE Washington, DC 20003
707 8th St SE, Washington, DC, 20003
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For Sale
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Renovated mixed-use property in Capitol Hill's commercial district.
Property Size7,350 SF
Price / SF$406.12
Days on Market869
Property Features for 707 8th St SE
General Information
- Standard status
- Active
- Size
- 7,350 SF
- Property subtype
- Mixed Use, Office, Retail, Special Purpose
Building Details
- Year Built
- 1912
Listing agency
Coldwell Banker Realty
Listed by
Chuck Burger · License #SP89849
Source
Crexi
Added: Mar 4, 2024 Updated: Jul 10 at 3:43PM Checked: Jul 20 at 4:27AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property is located in the heart of the Capitol Hill commercial district, near the Eastern Market Metro and the Capitol Building. It is situated among the shops and restaurants of Barracks Row, across from the U.S. Marine Barracks. The property consists of two interconnected properties, resulting in over 2500 square feet of renovated street-level space. This space is suitable for a restaurant, day care center, gym, medical office, large office headquarters, or any business seeking curb appeal, location, or street exposure on a busy commercial corridor. The entire property has been renovated, featuring three large office rentals on the second and third floors, generating an income of over $15,000. The property offers potential for additional square footage, multi-apartment units, or offices. The building may have development potential for additional square footage within the existing structure or expansion, in addition to the possibility of parking in the rear of the lot. The property has a total size of 7350 square feet. The property is largely vacant, offering flexibility in location, income, size, and usage.
Key Highlights
- Prime Capitol Hill location near Eastern Market Metro, Capitol Building, and Barracks Row.
- Large, renovated 2500+ sq ft open first floor suitable for various commercial uses.
- Potential for significant income from three existing office rentals on the 2nd and 3rd floors.
Local 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 | $370.4k | $50.40 |
| − Vacancy | −$59.3k | −$8.06 |
| EGI | $311.2k | $42.34 |
| − OpEx | −$77.8k | −$10.58 |
| NOI | $233.4k | $31.75 |
7,350 SF · lease $50.40/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.33M
$2.92M – $3.89M
NOI $233,377 @ 7.0% cap · market cap 7.82%
Second Best
Mixed Use
$1.73M
$1.52M – $2.02M
NOI $121,275 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,642 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Capital Restaurant Resources
Employment Agency
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FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use property in Capitol Hill's commercial district.
Where is this mixed-use property located?
The property is located at 707 8th St SE Washington, DC.
What is the asking price?
The asking price for this property is $2,985,000.
What are key features of this property?
This property features: Prime Capitol Hill location near Eastern Market Metro, Capitol Building, and Barracks Row.; Large, renovated 2500+ sq ft open first floor suitable for various commercial uses.; Potential for significant income from three existing office rentals on the 2nd and 3rd floors.
