3609 Georgia AveWashington, DC 20010
- Retail properties
- 3,198 SF
Property Details for 3609 Georgia Ave
- Year built
- 1920
- Construction
- BRICK
- Lot size
- 0.04 AC
- Property size (Sq ft)
- 3,198 SF
- Zone code
- NC-8
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 3032 0031
- APU
- 30320031
Description
This exceptional 3,198-square-foot mixed-use building at 3609 Georgia Avenue NW, Washington, DC 20010, presents a unique redevelopment opportunity. Situated on a 1,553-square-foot lot, this vacant, three-story property boasts one unit and offers significant potential for various uses, including retail, office, or multifamily redevelopment. The property's NMU-7B/GA zoning allows for by-right development potential of up to 8,075 gross square feet, leveraging a maximum floor area ratio (FAR) of 4.8, plus a penthouse bonus. Built in 1920, the building features three self-contained suites with varying potential uses, ideal for owner-occupancy. Its prime location along a vibrant streetscape offers excellent visibility and accessibility, just minutes from multiple Metrobus stops and the Georgia Avenue-Petworth Metro station on the Green Line. The property is less than 250 yards from the metro station and includes on-site parking. Eligible for building grants up to $80,000, this property represents a compelling investment opportunity with substantial upside potential. The asking price is $1,220,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,214,896
- 6.5%
- $1,121,442
- 7%
- $1,041,339
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,345,927
- Geo Method
- $1,345,927
-
Alternative Use
- Use
- Valuation
- Residential
- $945,979
- Hospitality
- $866,511
- Educational
- $720,927
- Medical
- $745,721
- Retail
- $1,121,442
Location Insight
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Latitude
- 38.9348
- Longitude
- -77.0238
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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