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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1602 L St NW Washington, DC 20002

    • Office buildings
    • 62,476 SF
    • 0.15 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0057794
    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

    • Thorn Law Group / Law Firm
    • Washington Eye Associates / Optometrist / Eye Care Center
    • Uyghur Human Rights Project / Charitable Organization / Social Service Agency
    • Independent Sector / Charitable Organization / Social Service Agency
    • OFS DC Showroom / Production Facility / Factory

    Property Details for 1602 L St NW

    Year built
    2006
    Construction
    TILT-UP CONCRETE
    Lot size
    0.15 lot acres
    Property size
    62,476 SF
    Zone code
    D-6
    Property type
    Office buildings
    APN
    0184 0075
    APU
    1840075

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $24,265,000
      Current use
      RETAIL STORES
      $21,265,000
      Change: -12% Conversion: Moderate
      WAREHOUSE, STORAGE
      $19,600,000
      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
    -77.0373
    Latitude
    38.9034
    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
    $404,958
    $7,413,780
    $16,708,290
    $24,122,070
    -
    $7,413,780
    $16,708,290
    $24,122,070

    Comparable in this City

    • Value Estimation by Request

      2050 M NW St

      OFFICE BUILDING
      2050 M NW St, Washington, DC 20036-3598
      View Details
    • Value Estimation
      $5,500,000
      27,880 SF

      1337 Connecticut NW Ave

      OFFICE BUILDING • 27,880 SF
      1337 Connecticut NW Ave, Washington, DC 20036-1864
      View Details
    • Value Estimation
      $3,845,000
      232,614 SF

      1100 Connecticut NW Ave

      OFFICE BUILDING • 232,614 SF
      1100 Connecticut NW Ave, Washington, DC 20036-4101
      View Details
    • Value Estimation
      $5,075,000
      246,682 SF

      1150 Connecticut NW Ave

      OFFICE BUILDING • 246,682 SF
      1150 Connecticut NW Ave, Washington, DC 20036-4104
      View Details
    • Value Estimation
      $3,005,000
      11,635 SF

      1719 Nn NW St

      OFFICE BUILDING • 11,635 SF
      1719 Nn NW St, Washington, DC 20036-2801
      View Details
    • Value Estimation
      $3,680,000
      12,951 SF

      1738 Nn NW St

      OFFICE BUILDING • 12,951 SF
      1738 Nn NW St, Washington, DC 20036-2907
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,443 SF

      Prime Location Inter-Connected Townhouses

      Inter-connected townhouses in prime location, zoned MU-15 mixed use.
      1718-1720 N St NW, Washington, DC 20036
      View Details
    • $29,950,000
      23,600 SF

      Blaine Mansion: DC Landmark

      Historic Mansion, Mixed-Use, $29.95M
      2000 Massachusetts Ave, Washington, DC 20036
      View Details
    • $19,995,000

      Historic Blaine Mansion Versatile Space

      Gilded Age mansion with residential and commercial space near Embassy Row.
      2000 Massachusetts Ave Nw, Washington, DC 20036
      View Details
    • $19,995,000

      Historic Mansion with Commercial Versatility

      Gilded Age mansion with residential elegance and income-generating commercial space.
      2000 Massachusetts Ave Nw, Washington, DC 20036
      View Details
    • $3,100,000
      4,666 SF

      Boutique Office Building, NW DC

      Fully occupied, 4,666 sq ft office building
      1717 Street Expy, Washington, DC 20036
      View Details
    • Contact for pricing
      5,800 SF

      Established Cigar Store Investment

      Corporate-backed cigar store with long-term lease and strong sales.
      1132 19Th St Nw, Washington, DC 20036
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,437 SF

      Prime Office Space Near Metro

      Class A office building in the Central Business District.
      1330 Connecticut Ave NW, Washington, DC 20036
      View Details
    • Contact for pricing

      Corner Office Building in Washington

      Office building located at the corner of 20th and L Streets.
      1111 20Th St NW Washington, Washington, DC 20036
      View Details
    • $54,636
      23,580 SF

      Four-Story Office Space Sublease

      Sublease opportunity near Dupont Circle with parking.
      1319 18Th St NW, Washington, DC 20036
      View Details
    • Contact for pricing
      16,475 SF

      Connecticut Avenue Office Space Available

      Office building near Dupont Circle Metro with 16,475 SF floors.
      1350 Connecticut Ave NW, Washington, DC 20036
      View Details
    • Contact for pricing
      11,929 SF

      Modern Office Space Available

      Move-in ready office space with new amenities and great views.
      1717 Rhode Island Ave NW, Washington, DC 20036
      View Details
    • $28 SF/Yr
      195,596 SF

      Dupont Circle Executive Suites

      Prestigious Office Space, Prime Location
      1400 16Th St, Washington, DC 20036
      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.
    1602 L St NW
    Washington, DC 20002
    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.