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Property profile & analytics
OFF-MARKET
Estimated value
$11,850,000
Office buildings
1624 Cres NW Pl Washington, DC 20009-4004
Individually Owned
2-yr Hold
Free & Clear
Property ID
US16-0018083
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1912
Construction
BRICK
Total area
24,180 SF
Lot
0.78 ac (34,132 SF)
Zoning code
RA-2
APN
2568 0806
UPID
US16-0018083
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
$11.28M
Comparable Approach
Comparable
$14.29M
Blend (final)
Blend
$11.85M
Owner & transaction history
Meridian International Center · 2 yrs held
Meridian International Center
since 2023
2 recorded transactions
Zoning & alternative use
RA-2 · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.2M
+57.0%
Commercial (general)
$10.5M
+8.6%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,220,000
6.5%
$11,280,000
7%
$10,475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,700,000
Current use
RESTAURANT
$15,235,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$10,535,000
Change: +9% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$9,435,000
Change: -3% · Conversion: Easy
RETAIL STORES
$8,595,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$11.85M
Range $10.67M – $13.04M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$490 / 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
Assessed value
$16,427,110
Assessed 2023
Previous assessed
$16,223,560
+1.3% YoY
Assessed land
$9,362,750
Assessed improvement
$7,064,360
Land market value
$9,362,750
Improvement market value
$7,064,360
Total market value
$16,427,110
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
1912
Construction
BRICK
Heating
NONE
Stories
3
Total area
24,180 SF
Lot
0.78 ac (34,132 SF)
Zoning code
RA-2
APN
2568 0806
UPID
US16-0018083
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
RA-2 · Washington, DC
Zoning RA-2 · permitted uses
RA-2 · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Washington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.7M
RESTAURANT
Est. value
$15.2M
COMMERCIAL (GENERAL)
Est. value
$10.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.4M
RETAIL STORES
Est. value
$8.6M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1912
Construction
BRICK
Heating
NONE
Stories
3
Lot
0.78 ac
Current owner
From public records · entity-resolved
Meridian International Center
Individual
Free & Clear · 2 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2023
—
Meridian International Center
Meridian International Center
Intrafamily Transfer
related
—
—
—
Meridian International Center
—
Deed Of Trust
related
$3,400,000 · Bank Of Georgetown
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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