915 Rhode Is NE Ave Washington, DC 20018-1733
Property Lookup
Property profile & analytics
915 Rhode Is NE Ave Washington, DC 20018-1733
- Banks
- 3,669 SF
- 0.35 lot acres
Property ID
US16-0057398
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.
Location Intelligence
Current Use by Public Records
- Banks
Property Details for 915 Rhode Is NE Ave
- Year built
- 1981
- Construction
- BRICK
- Lot size
- 0.35 lot acres
- Property size
- 3,669 SF
- Zone code
- MU-5A
- Property type
- Banks
- APN
- 3848 0056
- APU
- 38480056
Description
This exceptional investment opportunity presents a 3,669 square foot Bank of America branch located at 915 Rhode Island Ave NE, Washington, DC 20018. The property is situated on a 15,291 square foot lot and operates under an absolute NNN ground lease, eliminating landlord responsibilities. Bank of America, a credit-rated tenant, has occupied the space for over 20 years, recently renewing their lease with a 5-year extension. The lease includes a 3% annual rent increase, with a significant 16.72% jump in the first option year starting September 2029. The current asking price is $4,500,000, representing a 5.83% cap rate and a NOI of $262,253. The property boasts a prime location, steps from the Rhode Island Ave-Brentwood Metro Station and a major roadway with high vehicle traffic. The surrounding area is experiencing significant residential and commercial development, including 4,800 recently constructed residential units and an additional 5,100 units planned. The property's MU-5A zoning allows for high density development, offering substantial residual value. The branch itself is a high-performing location, holding the second-highest deposit volume in its zip code ($83M) and experiencing substantial deposit growth since 2018. This is a rare opportunity to acquire a stable, high-performing investment in a rapidly developing area of Washington, D.C. The property's proximity to major economic drivers, including a large USPS facility, GSA buildings, and a recently constructed mixed-use development, further enhances its long-term value.
Value Estimations
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CAP approach
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Location Insight
- Map
- Local Demand
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Longitude
- -76.9932
- Latitude
- 38.9219
- 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
$40,223
$1,197,130
$1,244,790
$2,441,920
-
$1,197,130
$1,244,790
$2,441,920
