2 Florida AveWashington, DC 20002

Property Details for 2 Florida Ave

Year built

1972

Construction

BRICK

Lot size

0.22 AC

Property size (Sq ft)

1,600 SF

Zone code

MU-4

Property type

Drive through restaurants

APN

3516 0137

APU

35160137

Description

This exceptional 1,597 square foot freestanding retail building, located at 2 Florida Ave NE in Washington, DC, presents a unique investment opportunity. Currently fully vacant, this property offers a blank canvas for a variety of commercial uses, including restaurants, thanks to its existing restaurant build-out. Situated on a 9,640 square foot lot, the building benefits from ample surface parking, a significant advantage in a bustling urban environment. The property's strategic location at the corner of Florida Ave NE and North Capitol St boasts exceptional visibility and accessibility, with a combined daily traffic count of 62,800 vehicles. This high-traffic area is surrounded by a thriving neighborhood featuring numerous townhomes, apartment buildings, and diverse retail establishments, ensuring a robust customer base. The MU-4 zoning allows for a range of commercial uses, providing flexibility for potential tenants. This property is ideally positioned to capitalize on the continued growth and development of this vibrant Washington, DC neighborhood. The entire 1,597 square feet is available for lease. Don't miss this chance to secure a prime retail space in a rapidly expanding area of the District of Columbia. Zip code: 20002.

• CAP approach

  CAP return

  Valuation

  6%

  $607,828

  6.5%

  $561,072

  7%

  $520,995

• Comparable approach

  Method

  Valuation

  Relative Method

  $673,384

  Geo Method

  $673,384

• Alternative Use

  Use

  Valuation

  Residential

  $473,285

  Hospitality

  $433,527

  Educational

  $360,689

  Medical

  $373,094

  Retail

  $561,072

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.9109

Longitude

-77.0086

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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