Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1008 2nd SE St Washington, DC 20003

    • Parking lots & garages
    • 5,084 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $1,080,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0127795
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 1008 2nd SE St

    Construction
    BRICK
    Lot size
    0.24 lot acres
    Property size
    5,084 SF
    Zone code
    RA-2
    Property type
    Parking lots & garages
    APN
    0768 0020
    APU
    7680020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $925,000
      Current use
      COMMERCIAL (GENERAL)
      $810,000
      Change: -12% Conversion: Difficult
      RESTAURANT
      $755,000
      Change: -18% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $745,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -77.0027
    Latitude
    38.878
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $6,882,260
    $5,270
    $6,887,530
    -
    $6,882,260
    $5,270
    $6,887,530

    Comparable in this City

    • Value Estimation by Request

      1301 Potomac Ave Sep-1

      RESIDENTIAL PARKING GARAGE
      1301 Potomac Ave Sep-1, Washington, DC 20003-4411
      View Details
    • Value Estimation by Request

      1520 Independence Ave Sep-2

      RESIDENTIAL PARKING GARAGE
      1520 Independence Ave Sep-2, Washington, DC 20003-1546
      View Details
    • Value Estimation by Request
      0.00 Acres

      642 Independence Ave Sep2

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
      642 Independence Ave Sep2, Washington, DC 20003-1207
      View Details
    • Value Estimation by Request
      0.00 Acres

      1315 Independence Ave Sep-15

      RESIDENTIAL PARKING GARAGE • 0.00 Acres
      1315 Independence Ave Sep-15, Washington, DC 20003-2300
      View Details
    • Value Estimation by Request

      1524 Independence Ave Sep-8

      RESIDENTIAL PARKING GARAGE
      1524 Independence Ave Sep-8, Washington, DC 20003-1553
      View Details
    • Value Estimation by Request

      1712 Independence Ave Sep-1

      RESIDENTIAL PARKING GARAGE
      1712 Independence Ave Sep-1, Washington, DC 20003-1636
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase in Washington, DC.
      1430 Pennsylvania Ave Se, Washington, DC 20003
      View Details
    • $2,550,000
      4,866 SF

      Renovated Mixed-Use Corner Property

      Fully renovated mixed-use property with residential units and commercial storefront.
      1302 Pennsylvania Ave SE, Washington, DC 20003
      View Details
    • $1,875,000
      0.04 Acres

      Renovated Retail/Office Space, DC

      Move-in ready retail/office space near Eastern Market and Potomac Ave Metros.
      515 11Th St SE, Washington, DC 20003
      View Details
    • $2,700,000

      Mixed-Use Asset on Barracks Row

      Fully leased mixed-use property with development potential in Capitol Hill.
      427 8Th St SE, Washington, DC 20003
      View Details
    • $3,745,000
      6,880 SF

      Capitol Hill Mixed-Use Investment

      Prime DC location, 3-story building, high ROI.
      729 8Th St, Washington, DC 20003
      View Details
    • Contact for pricing
      9,000 SF

      Retail Space Near Capitol

      Retail property with high potential, steps from the Capitol.
      308 Pennsylvania Ave Se, Washington, DC 20003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,900 SF

      Retail Space in Thriving NoMa

      Retail space available in a rapidly growing DC neighborhood.
      660 N Capitol St NW, Washington, DC 20003
      View Details
    • $3,500 /Mo

      Versatile Commercial Space in DC

      Adaptable commercial space suitable for various businesses in a vibrant location.
      1005 8Th St Se WASHINGTON, Washington, DC 20003
      View Details
    • Contact for pricing
      1,450 SF

      Prime Retail Space, High-Traffic Location

      Adaptable retail space in a revitalizing, high-visibility location.
      1500-1502 N Capitol St NW, Washington, DC 20003
      View Details
    • $4,500 /Mo
      871 SF

      Capitol Hill Renovated Commercial Space

      Renovated office/retail space near Capitol, excellent accessibility.
      1223 Pennsylvania Ave SE, Washington, DC 20003
      View Details
    • $60 SF/Yr
      5,119 SF

      Barracks Row Retail Opportunity

      Prime Navy Yard Retail Space, 1,150 SF
      753 8Th St, Washington, DC 20003
      View Details
    • Contact for pricing
      2,870 SF

      Capitol Hill Retail Space For Lease

      Prime 2,870 SF Retail, Capitol Hill, DC
      1442 Pennsylvania Ave, Washington, DC 20003
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1008 2nd SE St
    Washington, DC 20003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.