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Property profile & analytics
OFF-MARKET
Estimated value
$11,835,000
Office buildings
1615 L NW St Washington, DC 20036-5610
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US16-0044355
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
TILT-UP CONCRETE
Total area
659,196 SF
Lot
0.35 ac (15,269 SF)
Zoning code
D-6
APN
0183 0879
UPID
US16-0044355
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.84M
Owner & transaction history
Cp 1615 L Street LLC · 10 yrs held
Cp 1615 L Street LLC
since 2016
5 recorded transactions
Zoning & alternative use
D-6 · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
AND OBJECTIVE (D-5-R) 547 DENSITY - FLOOR AREA RATIO (FAR) (D-5-R) 548 HEIGHT (D-5-R) 549 FRONT BUILD-TO (D-5-R) 550 FRONT SETBACK (D-5-R) 551 COURT (D-5-R) 552 USES (D-5-R) 553 DESIGN (D-5-R) 554 PURPOSE AND OBJECTIVE (D-6) 555 DENSITY - FLOOR AREA RATIO (FAR) (D-6) 556 HEIGHT (D-6) 557 FRONT BUILD-TO (D-6) 558 FRONT SETBACK (D-6) 559 USES (D-6) 560 DESIGN…
Zone name
Downtown
General category
MIXED_USE
Zone area
209.77 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Washington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Washington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$18 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,140,500
Tax year 2023
Assessed value
$177,594,520
Assessed 2023
Previous assessed
$177,594,520
+0.0% YoY
Effective rate
1.77%
On assessed value
Assessed land
$23,581,440
Assessed improvement
$154,013,080
Land market value
$23,581,440
Improvement market value
$154,013,080
Total market value
$177,594,520
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1984
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
13
Total area
659,196 SF
Lot
0.35 ac (15,269 SF)
Zoning code
D-6
APN
0183 0879
UPID
US16-0044355
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
D-6 · Washington, DCZoning D-6 · permitted uses
D-6 · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
AND OBJECTIVE (D-5-R) 547 DENSITY - FLOOR AREA RATIO (FAR) (D-5-R) 548 HEIGHT (D-5-R) 549 FRONT BUILD-TO (D-5-R) 550 FRONT SETBACK (D-5-R) 551 COURT (D-5-R) 552 USES (D-5-R) 553 DESIGN (D-5-R) 554 PURPOSE AND OBJECTIVE (D-6) 555 DENSITY - FLOOR AREA RATIO (FAR) (D-6) 556 HEIGHT (D-6) 557 FRONT BUILD-TO (D-6) 558 FRONT SETBACK (D-6) 559 USES (D-6) 560 DESIGN (D-6) 561 PURPOSE AND OBJECTIVE (D-6-R) 562 DENSITY - FLOOR AREA RATIO (FAR) (D-6-R
Zone name
Downtown
General category
MIXED_USE
Zone area
209.77 ac
Building & site characteristics
From public records
Year built
1984
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
13
Lot
0.35 ac
Current owner
From public records · entity-resolved
Cp 1615 L Street LLC
Entity
Mailing address
1615 L ST NW STE #650, WASHINGTON, DC 20036-5606
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2016
$229,000,000
Cp 1615 L Street LLC
1615 L Street LLC
Grant Deed
$134,250,000 · * Other Institutional Lenders
Sep 2, 2015
—
Spitzer,bernard & Anne Trust
Spitzer Bernard
Quit Claim Deed
related
—
Aug 14, 2009
$7,955,387
1615 L Street LLC
L Street Realty Corp
Special Warranty Deed
$138,613,339 · Bank Of America NA
Jan 26, 2007
—
Hayfield Investors LLC
—
Deed Of Trust
related
$138,613,339 · Greenwich Capital Fin'l INC
—
—
1615 L Street LLC
—
Deed Of Trust
related
$134,250,000 · J P Morgan Chase Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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