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    1015 15th NW St Washington, DC 20005-2617
    Property profile & analytics

    1015 15th NW St Washington, DC 20005-2617

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    • Office buildings
    • 252,721 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Dec 12, 2024
    $60,130,379
    Property ID
    US16-0095736
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1015 15th NW St

    Year built
    1979
    Construction
    TILT-UP CONCRETE
    Lot size
    0.23 lot acres
    Property size
    252,721 SF
    Zone code
    D-6
    Property type
    Office buildings
    APN
    0216 0033
    APU
    2160033

    Description

    This exceptional office space at 1015 15th Street NW, 6th Floor, Washington, DC 20005 offers a diverse range of options to suit various business needs. Located in the heart of Washington, DC, this property provides a prestigious address and convenient access to the city's vibrant business district. The space caters to businesses of all sizes, from solo entrepreneurs to large corporations. Available options include traditional private offices, fully furnished and equipped to your specifications, ranging from single-person setups to large-scale custom designs. These offices offer a comprehensive benefits program, including exclusive discounts and procurement support. For a more collaborative environment, coworking spaces are available, offering both dedicated desks and hot-desking options. The property also features a variety of meeting rooms, adaptable for informal chats or formal presentations, equipped with Wi-Fi and necessary equipment. Virtual office solutions are also available, providing a prestigious business address, mail handling, and professional virtual assistant services, with options for lounge access and occasional office use. Flexible working plans are offered, providing access to a global network of workspaces, allowing for seamless transitions between locations. Whether you require a traditional office, a collaborative coworking space, or a virtual office solution, this property offers a tailored approach to meet your specific business requirements. Inquire today to explore the possibilities and find the perfect workspace to elevate your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market
      ML approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $52,594,000
      Market price range: $40.3M - $163M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $99,905,000
      Current use
      RETAIL STORES
      $86,010,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -77.0342
    Latitude
    38.9029
    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
    $994,808
    $20,790,000
    $33,517,740
    $54,307,740
    -
    $20,790,000
    $33,517,740
    $54,307,740

    Comparable in this City

    • Value Estimation by Request

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    • Value Estimation
      $18,180,000
      95,673 SF

      1330 G NW St

      OFFICE BUILDING • 95,673 SF
      1330 G NW St, Washington, DC 20005-3004
      View Details
    • Value Estimation
      $2,995,000
      207,592 SF

      1105 15th NW St

      OFFICE BUILDING • 207,592 SF
      1105 15th NW St, Washington, DC 20005-5003
      View Details
    • Value Estimation by Request
      164,340 SF

      875 15th NW St

      OFFICE BUILDING • 164,340 SF
      875 15th NW St, Washington, DC 20005-2221
      View Details
    • Value Estimation
      $31,995,000
      171,359 SF

      1025 Vermont NW Ave

      OFFICE BUILDING • 171,359 SF
      1025 Vermont NW Ave, Washington, DC 20005-3516
      View Details
    • Value Estimation
      $20,465,000
      96,839 SF

      1550 M NW St

      OFFICE BUILDING • 96,839 SF
      1550 M NW St, Washington, DC 20005-1703
      View Details

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    Washington, DC 20005-2617
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    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
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