701 Kennedy St Washington, DC 20011
- Retail space
- 5,627 SF
Current Use by Public Records
- Retail space
Property Details for 701 Kennedy St
- Year built
- 1927
- Property size
- 5,627 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 3153-0000-0827
Description
This exceptional investment opportunity presents a fully occupied, multi-tenant retail strip located at 701-709 Kennedy Street NW in Washington, DC, 20011. The property encompasses 5,627 square feet across five retail bays, all currently leased. Four of the five bays underwent renovations in 2022, and all are occupied by established local businesses with experienced operators. The most recent lease was signed in 2024, bringing occupancy to 100%. The projected net operating income (NOI) for 2025 is $135,000. This stabilized investment offers significant upside potential due to the strong tenant base and long-term leases (four of five tenants have been in place for five years or more). The property benefits from a NNN lease structure, minimizing landlord responsibilities and maximizing cash flow. The building, constructed in 1927 and situated on a single story, is zoned MU-4. Title is held fee simple, with common elements governed by a Reciprocal Easement Agreement (REA) with an adjacent apartment building. This multi-tenant configuration provides inherent flexibility and mitigates occupancy risk compared to single-tenant properties. The property's prime location and strong tenant occupancy make it an attractive investment for discerning buyers seeking a stable, high-performing retail asset in a thriving Washington, DC neighborhood.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District Of Columbia
- State
- District of Columbia
- Longitude
- -77.022431369357
- Latitude
- 38.956402094162
