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    Property profile & analytics

    1722 Connecticut NW Ave Washington, DC 20009-1103

    • Retail space
    • 14,072 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Dec 27, 2023
    $3,500,000
    Value Estimations
    $3,445,000
    Show details
    Cap Rate Potential
    8.9%
    Retail space
    Location Intelligence
    Property ID
    US16-0142183
    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

    • Retail space

    Property Details for 1722 Connecticut NW Ave

    Year built
    1900
    Construction
    BRICK
    Lot size
    0.09 lot acres
    Property size
    14,072 SF
    Zone code
    MU-20
    Property type
    Retail space
    APN
    0092 0067
    APU
    920067

    Description

    This exceptional property at 1722 Connecticut Ave NW, Washington, DC 20009 offers a rare leasing opportunity in Dupont Circle's vibrant neighborhood. The 1,838 square foot space is available immediately and presents a unique chance for a variety of businesses. Currently configured as office space, it's ideally suited for a range of uses including medical, dental, urgent care, retail, or restaurant operations. The building's location is highly desirable, less than two blocks from the Metro, and situated within a corridor known for its thriving restaurant and nightlife scene. Adjacent to the property at 1724 Connecticut Ave NW, a roughly 1800 square foot second-generation restaurant space is also available. This space includes basement storage and the option to combine it with 1722 Connecticut Ave NW for a larger footprint. The building offers a single-tenant occupancy and is priced to lease at $49 per square foot, triple net (NNN). This is a first-time lease opportunity in decades for 1722 Connecticut Ave NW, making it an exceptional chance to establish a presence in one of Washington, D.C.'s most sought-after locations. The property's versatility and prime location make it an attractive investment for businesses seeking high visibility and foot traffic.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,770,000
      ML approach
      $2,735,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,095,000
      6.5%
      $3,780,000
      7%
      $3,510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,370,000
      Market price range: $3.66M - $6.69M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,005,000
      Current use
      OFFICE BUILDING
      $5,645,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $5,490,000
      Change: +10% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,415,000
      Change: -12% 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
    -77.046
    Latitude
    38.9134
    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
    $77,434
    $3,752,350
    $940,630
    $4,692,980
    -
    $3,752,350
    $940,630
    $4,692,980

    Comparable in this City

    • Value Estimation
      $1,710,000
      7,636 SF

      1612 20th NW St

      RETAIL STORES (PERSONAL SERVICES) • 7,636 SF
      1612 20th NW St, Washington, DC 20009-1001
      View Details
    • Value Estimation
      $8,200,000
      48,160 SF

      1328 Florida NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 48,160 SF
      1328 Florida NW Ave, Washington, DC 20009-4824
      View Details
    • Value Estimation
      $765,000
      3,395 SF

      2015 14th NW St

      RETAIL STORES (PERSONAL SERVICES) • 3,395 SF
      2015 14th NW St, Washington, DC 20009-4436
      View Details
    • Value Estimation
      $550,000
      2,768 SF

      1921 14th NW St

      RETAIL STORES (PERSONAL SERVICES) • 2,768 SF
      1921 14th NW St, Washington, DC 20009-4463
      View Details
    • Value Estimation
      $2,010,000
      13,560 SF

      1712 14th NW St

      RETAIL STORES (PERSONAL SERVICES) • 13,560 SF
      1712 14th NW St, Washington, DC 20009-4309
      View Details
    • Value Estimation
      $2,950,000
      19,653 SF

      1630 14th NW St

      RETAIL STORES (PERSONAL SERVICES) • 19,653 SF
      1630 14th NW St, Washington, DC 20009-4335
      View Details

    Similar Nearby for Sale

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      Restaurant and Land For Sale

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      0.03 Acres

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      High-traffic location, perfect for any business.
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      Profitable Restaurant in Adams Morgan

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    Similar Nearby for Lease

    • Contact for pricing
      3,513 SF

      Vented Retail Space on 14th

      Rare vented retail opportunity with patio on 14th Street.
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      Dupont Circle Retail Space

      Prime retail location in the heart of Dupont Circle.
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      View Details
    • Contact for pricing

      Adams Morgan Retail Space Available

      6,406 SF retail space in vibrant Adams Morgan.
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      Prime Dupont Circle Location

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      View Details
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    1722 Connecticut NW Ave
    Washington, DC 20009-1103
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    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
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