Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    623 Missouri NW Ave, Unit 2 Washington, DC 20011-2055

    • Apartment buildings
    • 14,903 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0040742
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 623 Missouri NW Ave

    Year built
    1934
    Construction
    BRICK
    Lot size
    0.31 lot acres
    Property size
    14,903 SF
    Zone code
    R-2
    Property type
    Apartment buildings
    APN
    3204 0819
    APU
    32040819

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $542,000
      Market price range: $439k - $1.09M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -77.0221
    Latitude
    38.9596
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,612
    $678,960
    $1,015,870
    $1,694,830
    -
    $678,960
    $1,015,870
    $1,694,830

    Comparable in this City

    • Value Estimation by Request

      5120 Georgia Ave

      Multifamily properties
      5120 Georgia Ave, Washington, DC 20011
      View Details
    • Value Estimation by Request
      80,000 SF

      Kennedy Pl

      Multifamily properties • 80,000 SF
      0 Kennedy Pl, Washington, DC 20011
      View Details
    • Value Estimation by Request
      3,510 SF

      19 Gallatin St

      Multifamily properties • 3,510 SF
      19 Gallatin St, Washington, DC 20011
      View Details
    • Value Estimation
      $945,000
      33,796 SF

      1334 Ft Stevens NW Dr

      APARTMENT HOUSE (5+ UNITS) • 33,796 SF
      1334 Ft Stevens NW Dr, Washington, DC 20011-5048
      View Details
    • Value Estimation
      $1,270,000
      50,268 SF

      1360 Peabody NW St

      APARTMENT HOUSE (5+ UNITS) • 50,268 SF
      1360 Peabody NW St, Washington, DC 20011-1848
      View Details
    • Value Estimation
      $810,000
      22,188 SF

      4818 Ft Totten NE Dr, Unit 101

      APARTMENT HOUSE (5+ UNITS) • 22,188 SF
      4818 Ft Totten NE Dr, Washington, DC 20011-7567
      View Details

    Similar Nearby for Sale

    • $1,450,000
      2,300 SF

      Petworth Mixed-Use Investment

      Prime DC location, high NOI, strong cap rate.
      1389 Quincy St, Washington, DC 20011
      View Details
    • $2,900,000

      Georgia Ave NW Redevelopment Opportunity

      Prime DC location, high potential.
      5120 Georgia Ave, Washington, DC 20011
      View Details
    • $389,900

      Move-In Ready Condo with Balcony

      Bright, spacious condo with modern finishes and convenient location.
      7175 12Th St NW, Washington, DC 20011
      View Details
    • $799,000
      3,500 SF

      Mixed-Use Property with Garage

      Four-unit mixed-use property featuring a walkout basement and two-car garage.
      222 Upshur St NW, Washington, DC 20011
      View Details
    • $549,900
      976 SF

      Move-In Ready Residence at Kite House

      Luxury 2BR/2BA residence with high-end features and convenient access.
      7175 12Th St NW, Washington, DC 20011
      View Details
    • $169,500

      Residential Property For Sale

      Residential property available for purchase.
      1446 Tuckerman St NW 306, Washington, DC 20011
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,075 SF

      Retail Space in Mixed-Use Development

      Retail space for lease in a large mixed-use development.
      400 Galloway St NE, Washington, DC 20011
      View Details
    • $2,599 /Mo

      Renovated Condo Near Metro

      Contemporary 1-bedroom condo with den, close to Metro.
      5619 1St St NW, Washington, DC 20011
      View Details
    • $5,995 /Mo

      Renovated Home in 16th Street Heights

      Completely renovated home with modern amenities in a desirable location.
      1318 Ingraham St NW, Washington, DC 20011
      View Details
    • Contact for pricing
      2,840 SF

      Petworth Restaurant Space For Lease

      Prime Petworth location, 2840 sq ft.
      3930 Georgia Ave, Washington, DC 20011
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Catholic University

      Retail space available near Catholic University in Washington, D.C.
      333 Hawaii Ave Ne, Washington, DC 20011
      View Details
    • Contact for pricing
      3,870 SF

      Retail Space in Vibrant Neighborhood

      Retail space at the base of residential units and Walmart.
      5661 3Rd St NE, Washington, DC 20011
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    623 Missouri NW Ave, Unit 2
    Washington, DC 20011-2055
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.