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

    700 2nd NE St Washington, DC 20002-8100

    • Office buildings
    • 755,499 SF
    • 1.75 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2023
    $197,750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US16-0128652
    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

    • Kaiser Permanente Capitol Hill Medical Center / Medical Clinic
    • Center for Total Health / Hotel & Motel / Resort
    • Lab | Kaiser Permanente Capitol Hill Medical Center / Laboratory
    • Sonia Nair, M.D. | Kaiser Permanente / Physician
    • Luis G Ruiz, M.D. | Kaiser Permanente / Physician

    Property Details for 700 2nd NE St

    Year built
    2009
    Lot size
    1.75 lot acres
    Property size
    755,499 SF
    Zone code
    PDR-3,USN
    Property type
    Office buildings
    APN
    0720 0826
    APU
    7200826

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $185,178,000
      Market price range: $155M - $446M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $303,145,000
      Current use
      COMMERCIAL (GENERAL)
      $311,460,000
      Change: +3% Conversion: Easy
      WAREHOUSE, STORAGE
      $267,440,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    District Of Columbia
    State
    DC
    Longitude
    -77.004
    Latitude
    38.8995
    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
    $4,099,621
    $49,874,680
    $167,036,500
    $216,911,180
    -
    $49,874,680
    $167,036,500
    $216,911,180

    Comparable in this City

    • Value Estimation by Request

      1275 1st NE St

      OFFICE BUILDING
      1275 1st NE St, Washington, DC 20002-3210
      View Details
    • Value Estimation by Request

      1275 1st NE St

      OFFICE BUILDING
      1275 1st NE St, Washington, DC 20002-3210
      View Details
    • Value Estimation by Request

      1275 1st NE St

      OFFICE BUILDING
      1275 1st NE St, Washington, DC 20002-3210
      View Details
    • Value Estimation
      $15,905,000
      442,412 SF

      131 M NE St

      OFFICE BUILDING • 442,412 SF
      131 M NE St, Washington, DC 20002-3300
      View Details
    • Value Estimation
      $775,000
      2,152 SF

      311 Massachusetts NE Ave

      OFFICE BUILDING • 2,152 SF
      311 Massachusetts NE Ave, Washington, DC 20002-5775
      View Details
    • Value Estimation
      $28,700,000
      314,995 SF

      99 New York NE Ave

      OFFICE BUILDING • 314,995 SF
      99 New York NE Ave, Washington, DC 20002-3325
      View Details

    Similar Nearby for Sale

    • $6,200,000
      7,500 SF

      Historic Capitol Hill Office Building

      Restored 7,500 SF office building near Union Station.
      512 C St NE, Washington, DC 20002
      View Details
    • Contact for pricing
      5,444 SF

      Prominent Corner Office Building

      Office building with signage opportunity in amenity-rich corridor.
      646-650 H St NE, Washington, DC 20002
      View Details
    • New
      $3,850,000

      Historic Townhouses on Stanton Park

      Premier commercial office space in three contiguous historic townhouses.
      404 C St NE, Washington, DC 20002
      View Details
    • Contact for pricing
      228,222 SF

      Prime Office Building Near Union

      Eleven-story, 190,200 RSF office building near Union Station.
      810 1St St NE, Washington, DC 20002
      View Details
    • $950,000
      2,343 SF

      Benning Road Mixed-Use Investment

      Prime DC location, high cap rate, value-add opportunity.
      1924 Benning Rd, Washington, DC 20002
      View Details
    • $915,000

      Mixed-Use Building with Development Potential

      Mixed-use building with office/retail space and apartments, development potential.
      1707 North Capitol St Ne, Washington, DC 20002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      277,514 SF

      Office Space in Washington, DC

      Office building with 223,000 square feet of office space.
      1155 21St St NW, Washington, DC 20002
      View Details
    • Contact for pricing
      32,903 SF

      Office Space in Wonder Bread Building

      Office space for lease in Washington, D.C.'s Wonder Bread Building.
      641 S St NW, Washington, DC 20002
      View Details
    • Contact for pricing
      7,675 SF

      Office Building with Recent Renovations

      12-story office building featuring renovated interiors and exteriors.
      1111 19Th St NW, Washington, DC 20002
      View Details
    • Contact for pricing

      Capitol Hill Office Building

      Nine-story office building in Capitol Hill with 90,000 square feet.
      801 North Capitol St NE Washington, Washington, DC 20002
      View Details
    • Contact for pricing
      36,498 SF

      Georgetown Waterfront Office Space

      Modern office building with prominent frontage and parking.
      2900 K St NW, Washington, DC 20002
      View Details
    • Contact for pricing
      3,816 SF

      Modern Office Space in Capitol Hill

      Prime office space with parking in vibrant Capitol Hill.
      509 2Nd St NE, Washington, DC 20002
      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.
    700 2nd NE St
    Washington, DC 20002-8100
    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.