429 8Th StWashington, DC 20003

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 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.

• 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

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

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