For Sale
$2,500,000

429 8Th StWashington, DC 20003

Prime Barracks Row location, vacant, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use property, located at 429 8th Street SE in Washington, DC, presents a compelling investment opportunity. The 5,006 square foot building, constructed in 1900, sits on a 2,177 square foot lot and features two units across two stories. Currently vacant, this fee simple ownership offers a blank canvas for a variety of uses. The building's MU-4/CHC zoning permits flexibility for adaptive reuse. Its prominent corner location on a signalized intersection in the vibrant Barracks Row neighborhood provides unparalleled visibility and accessibility. The asking price is $2,500,000, representing a price per square foot of $499.40 and a pro-forma cap rate of 8.84%. A pro-forma NOI of $220,889 is projected. The property's strategic location offers easy access to Pennsylvania Avenue, Eastern Market, and the Eastern Market Metro station, ensuring high foot traffic and convenient transportation links. The ample street frontage is ideal for a restaurant, with significant potential for outdoor seating. Value-add investors can capitalize on the vacant space by leasing the street-level retail and the second-floor space, maximizing rental income. This is a rare chance to acquire a significant property in one of Washington, D.C.'s most desirable neighborhoods.

Highlights

  • 100% vacant mixed-use building at the Northwest corner of 8th and E Streets SE, Barracks Row/Capitol Hill.
  • Signalized corner location on Barracks Row's premier retail corridor, offering high visibility.
  • Excellent for restaurants, featuring ample street frontage and outdoor café space.
  • Value-add opportunity: lease street-level retail and second-floor space for strong revenue generation.
  • Prime location, walking distance to Pennsylvania Avenue, Eastern Market, and the Eastern Market Metro station.

Property Details for 429 8Th St

Property type
Retail properties, Restaurants
Square Feet
5,006 SF
Year Built
1900
Buildings
1
Stories
2
Units
2

Location Insight

City
Washington
County
District Of Columbia
State
District of Columbia
Latitude
38.882781957286
Longitude
-76.994968123646
429 8Th St, Washington, District of Columbia

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429 8Th St
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