568 Lebaum StWashington, DC 20032

Property Details for 568 Lebaum St

Year built

1941

Construction

BRICK

Lot size

0.22 AC

Property size (Sq ft)

10,004 SF

Zone code

MU-4

Property type

Retail properties

Property subtype

Retail space

APN

5982 0823

APU

59820823

Description

This exceptional 10,004 square foot mixed-use complex presents a unique investment opportunity in Washington, D.C.'s rapidly developing Southeast quadrant. Located on a 0.22-acre corner lot at 568 Lebaum Street SE, and encompassing five addresses (568-570 Lebaum Street SE & 2761, 2763, and 2765 Martin Luther King Jr. Ave SE), this property sits directly adjacent to the massive Saint Elizabeths redevelopment project. This transformative project will bring 1.8 million square feet of office space, 1,300 residential units, 200,000 square feet of retail, two hotels, and a hospital to the area, creating significant potential for appreciation. Zoned MU-4, the property allows for diverse development options, including multifamily, retail, office, or lodging uses. The property currently offers the potential for $296,000 in gross annual revenue from leasing, providing immediate income while pursuing development plans. Its location less than one mile from the Congress Heights Metro Station ensures convenient access to public transportation. Furthermore, its designation as an Opportunity Zone provides significant tax benefits and incentives. This is a rare chance to capitalize on the explosive growth projected for this area, benefiting from both immediate income potential and long-term appreciation driven by the surrounding revitalization.

• CAP approach

  CAP return

  Valuation

  6%

  $3,800,444

  6.5%

  $3,508,102

  7%

  $3,257,523

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,210,336

  Geo Method

  $4,210,336

• Alternative Use

  Use

  Valuation

  Residential

  $2,959,215

  Hospitality

  $2,710,625

  Educational

  $2,255,208

  Medical

  $2,332,768

  Retail

  $3,508,102

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.8466

Longitude

-76.9968

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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