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Property profile & analytics
OFF-MARKET
Estimated value
$50,815,000
Office buildings
1800 Martin Luther King Jr SE Ave Washington, DC 20020-6900
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US16-0073173
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Construction
TILT-UP CONCRETE
Total area
115,625 SF
Lot
0.62 ac (27,207 SF)
Zoning code
MU-7B
APN
5601 0056
UPID
US16-0073173
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
$63.43M
Comparable Approach
Comparable
$45.00M
Blend (final)
Blend
$50.82M
Owner & transaction history
Hermes Investment LLC · 1 yrs held
Hermes Investment LLC
since 2025
5 recorded transactions
Zoning & alternative use
MU-7B · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
NAVAL OBSERVATORY MIXED-USE ZONE - MU-4/NO 500 PURPOSE AND INTENT 501 HEIGHT 502 PENTHOUSE AND ROOFTOP STRUCTURE 503 PLANNED UNIT DEVELOPMENT 504 SPECIAL EXCEPTION REVIEW CRITERIA CHAPTER 6 FORT TOTTEN MIXED-USE ZONES - MU-7B/FT AND MU-10/FT 600 PURPOSE AND INTENT 601 DENSITY 602 HEIGHT 603 PENTHOUSE AND ROOFTOP STRUCTURE 603 Source Note 604 LOT OCCUPANCY 60…
Zone name
Mixed Use
General category
MIXED_USE
Zone area
264.84 ac
Top alternative use upside
Restaurant
$72.8M
+57.0%
Commercial (general)
$50.4M
+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%
$68,720,000
6.5%
$63,430,000
7%
$58,900,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$46,395,000
Current use
RESTAURANT
$72,840,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$50,365,000
Change: +9% · Conversion: Easy
RETAIL STORES
$39,350,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$50.82M
Range $45.73M – $55.90M · ±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
$439 / 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
$394,080
Tax year 2023
Assessed value
$21,030,670
Assessed 2023
Previous assessed
$21,030,670
+0.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$1,076,580
Assessed improvement
$19,954,090
Land market value
$1,076,580
Improvement market value
$19,954,090
Total market value
$21,030,670
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
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Total area
115,625 SF
Lot
0.62 ac (27,207 SF)
Zoning code
MU-7B
APN
5601 0056
UPID
US16-0073173
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
MU-7B · Washington, DCZoning MU-7B · permitted uses
MU-7B · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
NAVAL OBSERVATORY MIXED-USE ZONE - MU-4/NO 500 PURPOSE AND INTENT 501 HEIGHT 502 PENTHOUSE AND ROOFTOP STRUCTURE 503 PLANNED UNIT DEVELOPMENT 504 SPECIAL EXCEPTION REVIEW CRITERIA CHAPTER 6 FORT TOTTEN MIXED-USE ZONES - MU-7B/FT AND MU-10/FT 600 PURPOSE AND INTENT 601 DENSITY 602 HEIGHT 603 PENTHOUSE AND ROOFTOP STRUCTURE 603 Source Note 604 LOT OCCUPANCY 605 SETBACKS AND SCREENING CHAPTER 7 REED-COOKE MIXED-USE ZONES - MU-4/RC AND MU-5A/RC
Zone name
Mixed Use
General category
MIXED_USE
Zone area
264.84 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$46.4M
RESTAURANT
Est. value
$72.8M
COMMERCIAL (GENERAL)
Est. value
$50.4M
RETAIL STORES
Est. value
$39.4M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
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
2007
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Lot
0.62 ac
Current owner
From public records · entity-resolved
Hermes Investment LLC
Entity
Mailing address
2021 MARTIN LUTHER KING JR AVE SE, WASHINGTON, DC 20020-7007
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 2, 2025
$18,000,000
Hermes Investment LLC
Anacostia Gateway LLC
Special Warranty Deed
$15,300,000 · Truist Bank
Jan 30, 2009
—
Anacostia Gateway LLC
—
Deed Of Trust
related
$22,464,240 · United Bank
Jun 29, 2006
—
Anacostia Gateway LLC
—
Trustees Deed
related
$18,000,000 · United Bank
Apr 12, 2005
$1,200,000
Anacostia Gateway LLC
Department Of Hsng & Cmnty Dev
Quit Claim Deed
$100,000 · Department Of Hsng Com Dev
—
—
Anacostia Gateway LLC
—
Deed Of Trust
related
$2,135,000 · United 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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