429 8Th StWashington, DC 20003

  • Retail properties
  • 4,282 SF
For Sale
$2,500,000 View listing

Property Details for 429 8Th St

Year built
1900
Construction
BRICK
Lot size
0.05 AC
Property size (Sq ft)
4,282 SF
Zone code
MU-25,MU-4
Property type
Retail properties
Property subtype
Retail space
APN
0902 0800
APU
9020800

Description

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,626,699
    6.5%
    $1,501,568
    7%
    $1,394,314
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,802,145
    Geo Method
    $1,802,145
  • Alternative Use

    Use
    Valuation
    Residential
    $1,266,629
    Hospitality
    $1,160,226
    Educational
    $965,294
    Medical
    $998,492
    Retail
    $1,501,568
429 8Th St, Washington, District of Columbia

Location Insight

City
Washington
County
District Of Columbia
State
DC
Latitude
38.8829
Longitude
-76.9953
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
$25,553
$616,400
$759,480
$1,375,880
-
$616,400
$759,480
$1,375,880

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