1389 Quincy St Washington, DC 20011
- Turn key restaurants
- 2,019 SF
- 0.03 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1389 Quincy St
- Year built
- 1907
- Construction
- BRICK
- Lot size
- 0.03 lot acres
- Property size
- 2,019 SF
- Zone code
- MU-4
- Property type
- Turn key restaurants
- APN
- 2825 0033
- APU
- 28250033
Description
This exceptional mixed-use property, located at 1389 Quincy St NW in Washington, DC's desirable Petworth neighborhood, presents a compelling investment opportunity. The three-story, 2,300 square foot building boasts a thriving ground-floor restaurant with a sizable outdoor patio, generating significant income. Above, two one-bedroom, one-bathroom apartments maintain 100% occupancy, contributing to a robust net operating income (NOI) of $78,026 and a 5.38% capitalization rate. Built in 1907, the building benefits from a MU-4 zoning designation, offering potential for expansion, subject to applicable regulations. The property features a corner lot with frontage on both 14th St NW and Quincy St NW, ensuring high visibility and accessibility. Its strategic location, approximately four blocks from the Georgia Ave-Petworth Metro station and six blocks from the Columbia Heights Metro, provides convenient access to public transportation. The surrounding area is vibrant, with numerous shops, cafes, pubs, and restaurants, creating a bustling and desirable environment. Currently, leases are month-to-month, allowing for flexibility for a new owner. The asking price is $1,450,000. This property offers a rare blend of established income and significant upside potential in a thriving urban location.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Longitude
- -77.0325
- Latitude
- 38.9378
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
