3029 Martin Luther King Jr AveWashington, DC 20032
- Office buildings
- 10,860 SF
Property Details for 3029 Martin Luther King Jr Ave
- Year built
- 2002
- Construction
- BRICK
- Lot size
- 0.15 AC
- Property size (Sq ft)
- 10,860 SF
- Zone code
- RA-1
- Property type
- Office buildings
- APN
- 5988 0092
- APU
- 59880092
Description
This exceptional 1,532-square-foot retail space is located at 3029 Martin Luther King Jr. Ave SE, Washington, DC, a prime corner lot (10,860 sq ft) at the intersection of Martin Luther King Jr. Avenue and Malcolm X Ave SE. Built in 2002, this single-tenant property offers unparalleled visibility and accessibility. Its strategic location in Ward 8 places it just blocks from the Congress Heights Green Line METRO station and the upcoming Department of Homeland Security headquarters. Proximity to I-295 and Bolling Air Force Base (within 1 mile) and the newly established Giant Supermarket and The Villages of Parklands Retail Center (within 1.25 miles) ensures high traffic and convenient access to Downtown DC, Maryland, and Virginia. The building features a secure environment with 12 gated parking spaces exclusively for tenants, an elevator, and two bathrooms on each floor. Abundant natural light creates an inviting atmosphere. The property is designated as a Hubzone location, offering additional benefits. This space is ideal for government contractors, agencies, entrepreneurs, and nonprofits seeking a highly visible and accessible location near major transportation arteries and key government facilities, including the Coast Guard and St. Elizabeth's. The zoning is classified as X.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,180,760
- 6.5%
- $2,936,090
- 7%
- $2,726,360
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,813,730
- Geo Method
- $1,813,730
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $5,847,210
- Retail / Commercial
- $2,985,360
- Mixed-Use / Specialty
- $2,964,420
- Hospitality / Lodging
- $2,161,500
- Institutional / Educational
- $3,078,120
- Residential Income
- $3,601,400
- Multifamily
- $4,376,400
- Automotive / Energy
- $2,638,390
- Parking / Income-Based Land
- $920,646
- Restaurant / Food Service
- $1,519,850
- Healthcare / Senior Housing
- $3,050,510
Location Insight
- City
- Washington
- County
- District Of Columbia
- State
- DC
- Latitude
- 38.8443
- Longitude
- -76.9986
- 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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