3445 Benning RdWashington, DC 20019

Property Details for 3445 Benning Rd

Lot size

0.29 AC

Zone code

MU-4

Property type

Parking lots & garages

APN

5017 0838

APU

50170838

Description

This exceptional 16,960 square foot development opportunity is located at 3445 Benning Rd NE, Washington, DC 20019. The property is zoned MU-4, allowing for a mixed-use development with a 3 FAR (Floor Area Ratio), translating to a potential buildable area of 51,000 square feet. This prime location presents a unique chance to create a vibrant mixed-use building seamlessly blending ground-level retail space with residential units. The inclusion of a penthouse level is feasible, offering stunning city views and enhancing the project's luxury appeal. Careful consideration of setback regulations allows for the incorporation of green spaces, contributing to the overall community well-being. A key advantage is the existing fully operational liquor store on the property, which can continue operation post-redevelopment. This presents a significant opportunity to capitalize on an established business while simultaneously developing the remaining space. The property's strategic location and zoning flexibility make it an ideal investment for developers seeking to create a high-impact, mixed-use project in a thriving Washington, D.C. neighborhood. The APN is 5017 0837.

• CAP approach

  CAP return

  Valuation

  6%

  $3,026,627

  6.5%

  $2,793,810

  7%

  $2,594,252

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,875,290

  Geo Method

  $5,361,402

• Alternative Use

  Use

  Valuation

  Residential

  $2,356,683

  Hospitality

  $2,158,709

  Educational

  $1,796,021

  Medical

  $1,857,788

  Retail

  $2,793,810

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.8959

Longitude

-76.9555

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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