308 Pennsylvania SE Ave Washington, DC 20003-1147
- Turn key restaurants
- 5,643 SF
- 0.03 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 308 Pennsylvania SE Ave
- Year built
- 1910
- Construction
- BRICK
- Lot size
- 0.03 lot acres
- Property size
- 5,643 SF
- Zone code
- MU-26
- Property type
- Turn key restaurants
- APN
- 0789 0809
- APU
- 7890809
Description
This exceptional mixed-use investment property, located at 308-312 Pennsylvania Avenue SE in Washington, DC, 20003, presents a compelling opportunity. The 9,000 square foot building boasts a prime location steps from the Capitol Building, Library of Congress, and numerous Federal institutions, ensuring strong tenant demand and reliable income generation. Currently fully leased, the property comprises two ground-floor restaurant tenants and two floors of office space above. All tenants are secured with long-term leases, providing stability and predictable cash flow. The asking price is $5,000,000, translating to a price per square foot of $555.56. The property's strong performance is reflected in its projected net operating income (NOI) of $392,000 and a pro-forma capitalization rate of 7.84%. This investment offers a rare blend of location, stability, and strong financial projections, making it an ideal addition to any portfolio seeking consistent returns in a high-demand area. The property's mixed-use nature provides diversification and resilience, while its proximity to major landmarks and government institutions guarantees sustained value and potential for future appreciation.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,215,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,420,000
- 6.5%
- $2,585,000
- 7%
- $2,400,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,340,000
- Geo Method
- $2,070,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,145,000
- Retail
- $2,795,000
- Mixed-Use
- $2,200,000
- Hospitality
- $2,920,000
- Educational
- $2,200,000
- Residential Income
- $2,810,000
- Energy
- $2,635,000
- Income-Based Land
- $2,990,000
- Food Service
- $2,645,000
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Longitude
- -77.0016
- Latitude
- 38.8872
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
