3534 Georgia Ave NW Washington, DC 20010

Property Details for 3534 Georgia Ave NW

Construction

BRICK

Lot size

0.04 lot acres

Property size

1,662 SF

Zone code

NC-8

Property type

Retail space

APN

2895 0134

APU

28950134

Description

This 1,662 square foot, single-story retail building at 3534 Georgia Avenue NW in Washington, DC, presents a compelling value-add investment opportunity. Located on a hard corner immediately south of the Georgia Avenue Metro station, this property boasts exceptional visibility and strong foot traffic. Built in 1921, the building sits on a 1,776 square foot lot and is zoned NMU-7B/GA, allowing for a variety of uses. Currently vacant, this property offers significant upside potential for leasing, owner-occupancy, or redevelopment. The asking price is $1,100,000, representing $661.85 per square foot and a pro-forma cap rate of 7.43% with a pro-forma NOI of $81,727. The land value is $619.37 per square foot. Alley access in the rear provides additional convenience for potential tenants. Significant air rights (8,525 sq ft) offer further development possibilities. This is a rare chance to acquire a well-situated property in a thriving DC neighborhood. The property's location on a signalized corner ensures excellent visibility from Georgia Avenue NW, and there's potential for additional window lines. A short two-block walk to the Metro station guarantees high pedestrian traffic.