1666 Connecticut Ave NW Washington, DC 20009

Property Details for 1666 Connecticut Ave NW

Year built

1962

Construction

TILT-UP CONCRETE

Lot size

0.30 lot acres

Property size

113,302 SF

Zone code

MU-20

Property type

Office buildings

APN

0093 0830

APU

930830

Description

This seven-story, 84,393 square foot Class B office building at 1666 Connecticut Ave NW, Washington, DC 20009, is a value-add investment opportunity. Built in 1962 and renovated in 2021, the property boasts a 10.50% cap rate and 80.7% occupancy as of February 1, 2024. Eleven tenants occupy the space, including a long-term anchor tenant (Appalachian Regional Commission) leasing 38% of the rentable building area through June 2035. The weighted average remaining lease term is approximately 8 years. The building benefits from a prime location at the intersection of Connecticut Avenue, R Street, and 20th Street, near Dupont Circle and the Kalorama neighborhood. Its proximity to the Dupont Circle Metrorail station (Red Line) ensures excellent accessibility. The surrounding area offers a vibrant mix of residential, commercial, and cultural attractions. Recent improvements totaling $3.5 million include lobby upgrades, a spec suite program (resulting in significant leasing activity – over 55,600 square feet leased since 2020), and common area enhancements. The property's MU-20 zoning allows for flexibility in future uses. Historically, the building has maintained high occupancy rates (90% over 15 years and 95% over 30 years), demonstrating consistent tenant demand. The building's strong anchor tenant, recent renovations, and desirable location position it favorably for continued occupancy growth and strong returns.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Longitude

-77.0455

Latitude

38.9123

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments