1818-1820 Benning Rd Washington, DC 20002

Property Details for 1818-1820 Benning Rd

Year built

1947

Lot size

0.09 lot acres

Property size

3,215 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property in Washington, DC, offers a compelling investment opportunity. Located at 1818-1820 Benning Rd NE, this 3,215 square foot building, constructed in 1947, sits on a 0.09-acre lot and is zoned for commercial use. Currently featuring a leased convenience store generating $45,799 annual NOI and a vacant unit with significant rental potential (projected to add $45,000 annually to NOI), this property presents a strong current income stream. The asking price is $3,000,000, reflecting a current cap rate of 1.53% and a pro-forma cap rate of 3.05%. The property's location offers high visibility, with approximately 40,000 vehicles passing daily. Its proximity to the H Street Corridor, Union Station, and multiple public transportation options ensures excellent connectivity. The surrounding area boasts substantial residential and retail development, strong demographics (average household income exceeding $133,200 within a 2-mile radius), and numerous retail and cultural amenities. The vacant unit presents an owner-occupancy opportunity, potentially qualifying for SBA financing. Furthermore, its location within an Opportunity Zone offers potential tax advantages. This property presents a rare chance to develop a multifamily mixed-use project, potentially adding 20+ residential units, while simultaneously generating income from existing tenants. The existing 10-year lease (expiring November 30, 2026) provides immediate cash flow during any development process.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Longitude

-76.9767

Latitude

38.8994