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

    1515 New York Ave Nec-1-r Washington, DC 20002-1744

    • Commercial real estate
    • 23,386 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2020
    Value Estimations
    $4,055,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0170147
    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

    • Commercial real estate

    Property Details for 1515 New York Ave Nec-1-r

    Year built
    2020
    Construction
    BRICK
    Lot size
    0.39 lot acres
    Property size
    23,386 SF
    Property type
    Commercial real estate
    APN
    4037 2001
    APU
    40372001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,481,000
      Market price range: $1.59M - $5.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -76.9837
    Latitude
    38.916
    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
    $105,980
    $1,440,790
    $3,482,020
    $4,922,810
    -
    $1,440,790
    $3,482,020
    $4,922,810

    Comparable in this City

    • Value Estimation by Request
      8.94 Acres

      50 Massachusetts NE Ave

      COMMERCIAL (GENERAL) • 8.94 Acres
      50 Massachusetts NE Ave, Washington, DC 20002-4214
      View Details
    • Value Estimation by Request
      1,600 SF

      50 Massachusetts NE Ave

      COMMERCIAL (GENERAL) • 1,600 SF
      50 Massachusetts NE Ave, Washington, DC 20002-4214
      View Details
    • Value Estimation
      $975,000
      6,329 SF

      1501 Capitol NE St

      COMMERCIAL (GENERAL) • 6,329 SF
      1501 Capitol NE St, Washington, DC 20002-3343
      View Details
    • Value Estimation by Request
      1,216 SF

      1926 Benning NE Rd

      COMMERCIAL (GENERAL) • 1,216 SF
      1926 Benning NE Rd, Washington, DC 20002-4724
      View Details
    • Value Estimation
      $3,530,000
      23,636 SF

      1151 Bladensburg NE Rd

      COMMERCIAL (GENERAL) • 23,636 SF
      1151 Bladensburg NE Rd, Washington, DC 20002-8971
      View Details
    • Value Estimation
      $1,400,000
      5,065 SF

      1301 H St Ne Ste C1

      COMMERCIAL CONDOMINUIM • 5,065 SF
      1301 H St Ne Ste C1, Washington, DC 20002-3075
      View Details

    Similar Nearby for Sale

    • $3,000,000
      3,215 SF

      DC Mixed-Use Investment Opportunity

      Prime location, high income potential
      1818-1820 Benning Rd, Washington, DC 20002
      View Details
    • $900,000
      1,600 SF

      H Street NE Mixed-Use Building

      Vacant Retail, Huge Potential
      1415 H St, Washington, DC 20002
      View Details
    • $5,000,000
      3,426 SF

      Prime DC Office Near Union Station

      Modern, Mixed-Use Office Space - $5M
      322 4Th St, Washington, DC 20002
      View Details
    • $475,000
      1,258 SF

      Washington DC Multifamily Split Level

      Multifamily property in Washington, DC, with 1258 square feet.
      1605 Levis St NE, Washington, DC 20002
      View Details
    • $599,000

      Washington DC Specialty Property

      Specialty property available for sale in Washington, DC.
      622 11Th St NE, Washington, DC 20002
      View Details
    • $399,999

      Old City Duplex For Sale

      Fully occupied duplex in Old City 1, Washington, DC.
      310 19Th St NE, Washington, DC 20002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200 SF

      Prime DC Ghost Kitchen Space

      200 sq ft, Class B, Single Tenant Retail
      2000 5Th St, Washington, DC 20002
      View Details
    • $1,350 /Mo

      Capitol Hill Full-Service Office Spaces

      Self-contained office spaces in Capitol Hill, tailored to meet needs.
      316 F St Ne, Washington, DC 20002
      View Details
    • Contact for pricing
      6,889 SF

      Contemporary Retail Space Available

      Modern retail spaces in vibrant urban community, Washington, DC.
      1401 Okie St NE, Washington, DC 20002
      View Details
    • Contact for pricing
      2,500 SF

      Prime Restaurant Space with Patio

      Restaurant spaces with patios near IMF, World Bank, Federal Reserve.
      900 19Th St NW, Washington, DC 20002
      View Details
    • $6,500 /Mo
      2,100 SF

      Bright Townhome Near H Street

      Four-bedroom townhome with updated kitchen and garage parking near H Street.
      1336 G St NE, Washington, DC 20002
      View Details
    • $5,000 /Mo

      H Street Office Space Available

      Renovated office space in the bustling H Street Corridor.
      1324 H St Ne, Washington, DC 20002
      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.
    1515 New York Ave Nec-1-r
    Washington, DC 20002-1744
    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.