Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2620 P NW St, Unit 3 Washington, DC 20007-3062

    • Hotels
    • 6,698 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2022
    $5,561,043
    Value Estimations
    $4,835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0176864
    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

    • Hotels

    Property Details for 2620 P NW St

    Year built
    1942
    Construction
    BRICK
    Lot size
    0.14 lot acres
    Property size
    6,698 SF
    Zone code
    MU-3A
    Property type
    Hotels
    Property subtype
    Motels
    APN
    1262 0087
    APU
    12620087

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,350,000
      ML approach
      $4,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,349,000
      Market price range: $1.65M - $4.35M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $3,000,000
      Current use
      AUTO REPAIR, GARAGE
      $5,735,000
      Change: +91% Conversion: Difficult
      RESTAURANT
      $4,220,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $4,150,000
      Change: +38% Conversion: Difficult
      RETAIL STORES
      $3,625,000
      Change: +21% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,920,000
      Change: -3% 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
    -77.0554
    Latitude
    38.9091
    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
    $73,882
    $2,308,080
    $2,138,660
    $4,446,740
    -
    $2,308,080
    $2,138,660
    $4,446,740

    Comparable in this City

    • Value Estimation by Request
      3,170 SF

      1061 31st NW St

      HOTEL/MOTEL • 3,170 SF
      1061 31st NW St, Washington, DC 20007-4408
      View Details
    • Value Estimation
      $580,000
      9,716 SF

      1832 Wisconsin NW Ave

      HOTEL/MOTEL • 9,716 SF
      1832 Wisconsin NW Ave, Washington, DC 20007-2301
      View Details
    • Value Estimation by Request

      30th NW St

      HOTEL
      30th NW St, Washington, DC 20007
      View Details
    • Value Estimation
      $19,640,000
      459,534 SF

      2800 Pennsylvania NW Ave

      HOTEL • 459,534 SF
      2800 Pennsylvania NW Ave, Washington, DC 20007-3717
      View Details
    • Value Estimation by Request
      1,299 SF

      3103 Ss NW St

      HOTEL • 1,299 SF
      3103 Ss NW St, Washington, DC 20007-4419
      View Details
    • Value Estimation
      $2,820,000
      58,722 SF

      1310 Wisconsin NW Ave

      HOTEL • 58,722 SF
      1310 Wisconsin NW Ave, Washington, DC 20007-3310
      View Details

    Similar Nearby for Sale

    • $2,950,000

      Washington DC Specialty Property

      Specialty property available for sale in Washington, DC.
      1600 37Th St NW, Washington, DC 20007
      View Details
    • $4,950,000

      Washington DC Specialty Property

      Specialty property available for sale in Washington, DC.
      1935 Foxview Cir NW, Washington, DC 20007
      View Details
    • $1,585,000
      1,962 SF

      Glover Park Reimagined Single-Family Home

      Classic Glover Park home with modern design and indoor-outdoor entertaining.
      2410 37Th St NW, Washington, DC 20007
      View Details
    • $5,500,000

      Washington DC Specialty Property

      Specialty property available for sale in Washington, DC.
      2504 41St St NW, Washington, DC 20007
      View Details
    • $5,500,000

      Specialty Property in Washington, DC

      Specialty property available for sale in Washington, DC.
      4814 Kemble NW, Washington, DC 20007
      View Details
    • $3,750,000

      Specialty Property in Washington, DC

      Specialty property available for sale in Washington, DC.
      2813 Q St NW, Washington, DC 20007
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo

      Renovated Office Condominium For Lease

      Two-story, renovated office condominium suitable for professional or non-profit use.
      2164 - Wisconsin Ave Nw, Washington, DC 20007
      View Details
    • Contact for pricing
      1,897 SF

      Georgetown Corner Retail Space

      Retail space in Georgetown with parking and venting potential.
      1600 Wisconsin Ave NW, Washington, DC 20007
      View Details
    • Contact for pricing
      5,785 SF

      Prime Georgetown Retail Space

      5,785 SF Single-Tenant Retail in DC
      1901 Wisconsin Ave, Washington, DC 20007
      View Details
    • Contact for pricing
      900 SF

      Prime DC Executive Office Space

      900 SF Retail/Office in Georgetown
      2319 Wisconsin Ave, Washington, DC 20007
      View Details
    • Contact for pricing
      7,761 SF

      Wisconsin Ave Retail Space

      Prime Georgetown Retail, Multiple Suites Available
      1211 Wisconsin Ave, Washington, DC 20007
      View Details
    • $27,000

      Retail Space in Washington, DC

      Retail space available for rent in a prime location.
      1721 Wisconsin Ave NW, Washington, DC 20007
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2620 P NW St, Unit 3
    Washington, DC 20007-3062
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!