301 Massachusetts NE Ave Washington, DC 20002-5701

Property Details for 301 Massachusetts NE Ave

Year built

1890

Construction

BRICK

Lot size

0.03 lot acres

Property size

3,926 SF

Zone code

MU-26

Property type

Retail space

APN

0782 0020

APU

7820020

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Pupatella Neapolitan pizzeria in Washington, D.C.'s Capitol Hill neighborhood. Located at a high-traffic corner (Massachusetts Ave & 3rd St), this 4,154 square foot restaurant boasts a strong 9.4-year remaining lease (with two 5-year options) and a corporate guarantee. The property, built in 1890 and renovated in 2015 and 2024, sits on a 0.03-acre lot and benefits from a net lease structure (NN), minimizing landlord responsibilities. The current annual net operating income (NOI) is $218,891, yielding a 6.25% cap rate. The lease includes annual rent increases, protecting against inflation. The property's prime location near the US Capitol, numerous hotels, and Union Station Metro provides exceptional visibility and access to a dense population of residents and tourists. The surrounding area features a high daytime population and affluent demographics, with significant annual spending on food and entertainment. This fully depreciable asset offers a low-management, high-return investment opportunity for passive investors. The MU-4 zoning allows for mixed-use development. Recent roof work completed in November 2021 further minimizes future capital expenditures. The tenant, Pupatella, is a well-established brand with multiple locations and AVPN certification.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Longitude

-77.0018

Latitude

38.8942

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments