1508 U StWashington, DC 20009

This exceptional four-story, 3,600 square foot mixed-use building at 1508 U Street NW in Washington, DC, is offered at $2,875,000. Built in 2004 and renovated in 2020, this property boasts a desirable MU-4 zoning designation and features two units across 3,600 net rentable square feet. Currently vacant with an occupancy date of October 11, 2024, it presents a unique opportunity for owner-users or investors. The building includes four on-site parking spaces and benefits from its location near multiple Metrobus stations and 0.3 miles from the U Street/African-American Civil War Memorial/Cardozo Metro station (Green Line). Situated on a 1,660 square foot lot along a public alley, it offers excellent visibility for signage. The property has a proven track record as a successful event space, having received PeerSpace's 2024 Open Door Award. The open floor plans are well-suited for various uses, and the location is eligible for up to $80,000 in building improvement grants through the Great Streets Corridor program. The pro-forma cap rate is 7.03%. This is a rare opportunity to acquire a well-maintained, award-winning property in a vibrant and highly sought-after DC neighborhood.