308 Pennsylvania Ave Se, Washington, DC 20003
- Turn key restaurants
- 5,643 SF
- 0.03 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 308 Pennsylvania Ave Se
- Year built
- 1910
- Construction
- BRICK
- Lot size
- 0.03 lot acres
- Zone code
- MU-26
- Property type
- Turn key restaurants
- APN
- 0789 0809
- APU
- 7890809
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 28, 2023 | — | 308 312 Pennsylvania Ave Se LLC | — | Deed · related | $1.7M · Standard Insurance Co |
| Dec 9, 2021 | $2,400,000 | 308-312 Pennsylvania Ave Se LLC | National Alliance Of Black School E | Special Warranty Deed | $1.7M · Bayvanguard Bank |
| Jul 14, 2016 | — | National Alliance Of Black Sch Ed | — | Trustees Deed · related | $1.7M · Woodbridge Mtg Inv Fund 3a LLC |
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 Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,215,000
- ML approach
- $2,375,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,043,000
Market price range: $2.04M - $4.81M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $3,555,000 Current use
Get a detailed, property-specific estimation — fast and free
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
