1924 Benning RdWashington, DC 20002

Property Details for 1924 Benning Rd

Year built

1925

Construction

BRICK

Lot size

0.03 AC

Property size (Sq ft)

1,216 SF

Zone code

MU-5A

Property type

Other commercial real estate

APN

4506 0809

APU

45060809

Description

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.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.899

Longitude

-76.9753

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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