3938 Benning Rd Ne WASHINGTON Washington, DC 20019
- Commercial real estate
- 30,000 SF
- 0.23 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3938 Benning Rd Ne WASHINGTON
- Year built
- 2024
- Lot size
- 0.23 lot acres
- Property size
- 30,000 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a brand-new, 30-unit apartment building at 3938 Benning Rd NE, Washington, DC 20019. Completed in 2024, this multifamily property boasts a total of 30,000 square feet, with 3,230 square feet of net rentable space. Situated on a 0.23-acre lot, the building is zoned RA-3, allowing for its current configuration as a matter of right. The property includes five onsite parking spaces, benefiting from a mass transit parking exemption. Its prime location offers convenient access to public transportation, including proximity to the Minnesota Avenue Metro and other nearby stations. The surrounding area is experiencing significant revitalization, with new retail, office, and mixed-use developments underway. This presents a compelling opportunity within an Opportunity Zone, with potential for a substantial return on investment. The building's potential gross rent exceeds $571,000 annually, offering a projected cap rate exceeding 7% upon full stabilization. This is a rare chance to acquire a newly constructed, high-potential multifamily asset in a rapidly developing Washington, D.C. neighborhood.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- Washington
- State
- District of Columbia
- Longitude
- -76.9473728
- Latitude
- 38.8946424
