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Property profile & analytics
FOR LEASE
Office buildings
875 15Th St NW, Washington, DC 20005
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US16-0044547
For Lease
1 / 2
Contact for pricing
875 15Th St NW, Washington, DC 20005
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1922
Construction
TILT-UP CONCRETE
Total area
164,340 SF
Lot
0.51 ac (22,261 SF)
Zoning code
D-6
APN
0220 0067
UPID
US16-0044547
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$50.52M
Owner & transaction history
Jpmorgan Chase Bk Natl Assn · 8 yrs held
Jpmorgan Chase Bk Natl Assn
since 2018
5 recorded transactions
Zoning & alternative use
D-6 · Washington, DC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$71.6M
+10.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Washington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Washington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$64,965,000
Current use
COMMERCIAL (GENERAL)
$71,590,000
Change: +10% · Conversion: Easy
RETAIL STORES
$55,930,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$50.52M
Range $45.47M – $55.57M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$307 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,226,743
Tax year 2023
Assessed value
$127,299,500
Assessed 2023
Previous assessed
$127,299,500
+0.0% YoY
Effective rate
1.75%
On assessed value
Assessed land
$42,852,430
Assessed improvement
$84,447,070
Land market value
$42,852,430
Improvement market value
$84,447,070
Total market value
$127,299,500
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1922
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
9
Total area
164,340 SF
Lot
0.51 ac (22,261 SF)
Zoning code
D-6
APN
0220 0067
UPID
US16-0044547
Jurisdiction
DISTRICT OF COLUMBIA
Metro division
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN DIVISION
Zoning & alternative use
D-6 · Washington, DC
Zoning D-6 · permitted uses
D-6 · Washington, DC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Washington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$65.0M
COMMERCIAL (GENERAL)
Est. value
$71.6M
RETAIL STORES
Est. value
$55.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1922
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
9
Lot
0.51 ac
Current owner
From public records · entity-resolved
Jpmorgan Chase Bk Natl Assn
Individual
Mailing address
PO BOX 1919, WICHITA FALLS, TX 76307-1919
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2018
—
Jpmorgan Chase Bk Natl Assn
Bowen Building LP
Grant Deed
related
—
Jul 19, 2017
—
Bowen Building LP A Delaware Limite
—
Deed
related
$115,021 · Wells Fargo Bank NA
Jun 3, 2016
—
Bowen Building LP
—
Deed
related
$115,021,987 · Jp Morgan Chase Bk
May 23, 2006
—
Bowen Building LP
—
Deed Of Trust
related
$115,021,987 · Bank Of America/il
—
—
Bowen Building LP
—
Loan Modification
related
$115,021,987 · Jp Morgan Chase Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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