New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,285,000
Retail space
224 2nd SE St Washington, DC 20003-1943
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US16-0208796
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1802
Construction
BRICK
Total area
5,104 SF
Lot
0.16 ac (7,182 SF)
Zoning code
RF-3
APN
0762 0007
UPID
US16-0208796
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
Current use
Occupant on record · Public records
-
Indian Gaming Association Charitable Organization Social Service Agency
-
Shakopee Mdewakanton Sioux Community Conference Center Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
$783k
Blend (final)
Blend
$1.29M
Owner & transaction history
National Indian Gaming Assn · 8 yrs held
National Indian Gaming Assn
since 2017
6 recorded transactions
Zoning & alternative use
RF-3 · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,365,000
6.5%
$1,260,000
7%
$1,170,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,095,000
Current use
OFFICE BUILDING
$2,050,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±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
$252 / 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
$52,587
Tax year 2023
Assessed value
$2,755,090
Assessed 2023
Previous assessed
$2,755,090
+0.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$2,033,510
Assessed improvement
$721,580
Land market value
$2,033,510
Improvement market value
$721,580
Total market value
$2,755,090
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1802
Construction
BRICK
Heating
NONE
Stories
4
Total area
5,104 SF
Lot
0.16 ac (7,182 SF)
Zoning code
RF-3
APN
0762 0007
UPID
US16-0208796
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
RF-3 · Washington, DC
Zoning RF-3 · permitted uses
RF-3 · 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
RETAIL STORES Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES Current
OFFICE BUILDING
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
1802
Construction
BRICK
Heating
NONE
Stories
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
National Indian Gaming Assn
Individual
Mailing address
224 2ND ST SE, WASHINGTON, DC 20003-1943
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2017
—
National Indian Gaming Assn
—
Deed
related
$3,100,000 · Poarch Band Of Creek Indians
Nov 14, 2014
—
National Indian Gaming Assn
—
Loan Modification
related
$2,500,000 · Wells Fargo Bk
Aug 7, 2013
—
National Indian Gaming Assn
—
Trustees Deed
related
$2,000,000 · Wells Fargo Bk/tx
Oct 31, 2011
—
National Indian Gaming Assn
—
Trustees Deed
related
$1,500,000 · Bank Of America
—
—
National Indian Gaming Assn
—
Deed Of Trust
related
$950,181 · Bank Of America
—
—
National Indian Gaming Assn
—
Deed Of Trust
related
$3,100,000 · Poarch Band Of Creek Indians
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 224 2nd SE St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
