517 2Nd StWashington, DC 20002

Property Details for 517 2Nd St

Year built

1890

Construction

BRICK

Lot size

0.03 AC

Property size (Sq ft)

3,099 SF

Zone code

MU-24

Property type

Office buildings

APN

0754 0036

APU

7540036

Description

This exceptional investment opportunity presents a three-story, 3,099 square foot Class B office building located at 517 2nd St NE, Washington, DC 20002. Boasting a 4.07% cap rate and a strong net operating income (NOI) of $85,352, this property offers significant potential for investors. The building, constructed in 1950, is currently 100% occupied by a long-term tenant (over three decades) providing immediate cash flow. The asking price is $2,095,000, translating to $806.71 per square foot. The property features a rare parking space, conveniently doubling as a loading area with basement access. Zoned MU4/CAP, the property allows for flexible use, including office, retail, and residential options. The single-tenant, net lease structure minimizes management responsibilities. This is a unique opportunity to acquire a well-located asset in a high-demand area, close to Capitol Hill and Union Station. The building's strategic location and versatile zoning make it an attractive investment for both short-term and long-term growth. The current tenant's long history provides stability, while the zoning allows for future adaptability to changing market demands. The property offers a rare combination of historical charm and modern investment potential in a highly sought-after location. The single unit and single parking space are key features of this unique offering.

• CAP approach

  CAP return

  Valuation

  6%

  $907,659

  6.5%

  $837,839

  7%

  $777,993

• Comparable approach

  Method

  Valuation

  Relative Method

  $517,564

  Geo Method

  $517,564

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,668,550

  Retail / Commercial

  $851,898

  Mixed-Use / Specialty

  $845,924

  Hospitality / Lodging

  $616,803

  Institutional / Educational

  $878,370

  Residential Income

  $1,027,690

  Multifamily

  $1,248,840

  Automotive / Energy

  $752,888

  Parking / Income-Based Land

  $262,715

  Restaurant / Food Service

  $433,702

  Healthcare / Senior Housing

  $870,491

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.8968

Longitude

-77.0032

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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