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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2308 Rhode Is NE Ave Washington, DC 20018-2829

    • Retail space
    • 4,380 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2022
    $900,000
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0038857
    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 2308 Rhode Is NE Ave

    Year built
    1929
    Construction
    BRICK
    Lot size
    0.05 lot acres
    Property size
    4,380 SF
    Zone code
    MU-4
    Property type
    Retail space
    APN
    4248 0018
    APU
    42480018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,170,000
      6.5%
      $1,080,000
      7%
      $1,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $965,000
      Market price range: $965k - $2.17M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,375,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -76.9732
    Latitude
    38.9308
    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
    $10,983
    $134,860
    $342,000
    $476,860
    -
    $134,860
    $342,000
    $476,860

    Comparable in this City

    • Value Estimation
      $555,000
      2,244 SF

      3012 18th NE St

      RETAIL STORES (PERSONAL SERVICES) • 2,244 SF
      3012 18th NE St, Washington, DC 20018-2458
      View Details
    • Value Estimation
      $1,595,000
      9,364 SF

      2012 Rhode Is NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,364 SF
      2012 Rhode Is NE Ave, Washington, DC 20018-2835
      View Details
    • Value Estimation
      $660,000
      2,620 SF

      1927 Rhode Is NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,620 SF
      1927 Rhode Is NE Ave, Washington, DC 20018-2441
      View Details
    • Value Estimation
      $710,000
      3,180 SF

      1602 Rhode Is NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,180 SF
      1602 Rhode Is NE Ave, Washington, DC 20018-1842
      View Details
    • Value Estimation
      $705,000
      3,684 SF

      2634 12th NE St

      RETAIL STORES (PERSONAL SERVICES) • 3,684 SF
      2634 12th NE St, Washington, DC 20018-1714
      View Details
    • Value Estimation
      $655,000
      2,663 SF

      1348 Brentwood NE Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,663 SF
      1348 Brentwood NE Rd, Washington, DC 20018-3704
      View Details

    Similar Nearby for Sale

    • $750,000

      Mixed-Use Property in Brookland, DC

      Mixed-use property with retail and residential units in Brookland.
      2707 12Th St Ne, Washington, DC 20018
      View Details
    • Contact for pricing

      Brookland Parking Space For Sale

      Assigned parking space in high-demand Brookland neighborhood, near Metro.
      1352 Bryant St NE, Washington, DC 20018
      View Details
    • New
      $564,200
      0.06 Acres

      Commercially Zoned Vacant Lot

      Vacant lot suitable for development or restaurant in Washington, DC.
      2710 12Th St NE, Washington, DC 20018
      View Details
    • $2,100,000

      Industrial Asset with Value-Add Potential

      Rare industrial property with diverse permitted uses in fast-growing neighborhood.
      3001 Earl Pl NE, Washington, DC 20018
      View Details
    • Contact for pricing

      Retail Property For Sale

      Retail property available for sale in Washington, DC.
      2117 Rhode Island Ave Ne, Washington, DC 20018
      View Details
    • $824,900

      Specialty Property Available For Sale

      Specialty property for sale in Washington, DC, priced at $824,900.
      3811 SOUTH Dakota Ave NE, Washington, DC 20018
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,640 SF

      Retail Space in Mixed-Use Development

      Retail spaces available in a premier mixed-use development.
      2300 Washington Pl Ne, Washington, DC 20018
      View Details
    • $25 SF/Yr
      1,480 SF

      Retail Space in Brentwood Square

      1,480 SF retail space in a shopping center.
      1201-1205 Brentwood Rd NE, Washington, DC 20018
      View Details
    • $2,250 /Mo

      Retail/Office Space Near Transportation

      Self-contained retail or office space near public transportation.
      3417 18Th St Ne WASHINGTON, Washington, DC 20018
      View Details
    • $2,799 /Mo
      2,178 SF

      Rhode Island Avenue Retail Space

      Retail space for lease on Rhode Island Avenue.
      1613 NE Unit, Washington, DC 20018
      View Details
    • Contact for pricing
      3,750 SF

      Prime Brentwood Retail Space

      3,750 SF Retail Space - Available Now
      1060 Brentwood Rd, Washington, DC 20018
      View Details
    • Contact for pricing
      70,000 SF

      Rhode Island Ave Retail Space

      Prime DC Retail Opportunity: 4 Suites Available
      0 Rhode Island Ave, Washington, DC 20018
      View Details
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    Washington, DC 20018-2829
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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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