517 2nd NE St Washington, DC 20002-4916

Property Details for 517 2nd NE St

Year built

1890

Construction

BRICK

Lot size

0.03 lot acres

Property size

3,099 SF

Zone code

MU-24

Property type

Office buildings

APN

0754 0036

APU

7540036

Description

This exceptional investment opportunity presents a three-story, 3,099 square foot Class B office building located at 517 2nd St NE, Washington, DC 20002. Boasting a 4.07% cap rate and a strong net operating income (NOI) of $85,352, this property offers significant potential for investors. The building, constructed in 1950, is currently 100% occupied by a long-term tenant (over three decades) providing immediate cash flow. The asking price is $2,095,000, translating to $806.71 per square foot. The property features a rare parking space, conveniently doubling as a loading area with basement access. Zoned MU4/CAP, the property allows for flexible use, including office, retail, and residential options. The single-tenant, net lease structure minimizes management responsibilities. This is a unique opportunity to acquire a well-located asset in a high-demand area, close to Capitol Hill and Union Station. The building's strategic location and versatile zoning make it an attractive investment for both short-term and long-term growth. The current tenant's long history provides stability, while the zoning allows for future adaptability to changing market demands. The property offers a rare combination of historical charm and modern investment potential in a highly sought-after location. The single unit and single parking space are key features of this unique offering.

Location Insight

City

Washington

County

District Of Columbia

State

DC

Longitude

-77.0032

Latitude

38.8968

CBSA code

47900

CBSA name

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

Property Tax & Assessments