2901 Minnesota AveWashington, DC 20019

Property Details for 2901 Minnesota Ave

Year built

1941

Construction

BRICK

Lot size

0.43 AC

Property size (Sq ft)

6,999 SF

Zone code

MU-3A

Property type

Retail space

APN

5507 0803

APU

55070803

Description

This exceptional 7,188-square-foot building, situated on a sizable 18,815-square-foot lot in Washington, D.C.'s Hillcrest neighborhood, presents a unique owner-user opportunity. Currently vacant and available for immediate occupancy on February 1, 2025, this single-story, 1941-constructed building previously housed a highly successful auto parts retail business with annual sales exceeding $7 million. The property features 14-foot ceilings and ample on-site parking (15 spaces). Its convenient location provides immediate access to I-295, and proximity to Pennsylvania Avenue SE and Benning Road NE. The property is zoned MU-3A, allowing for a variety of uses including retail, office, medical, childcare, and educational facilities. Furthermore, there's potential for future upzoning to MU-4 through a map amendment or Planned Unit Development process, offering significant long-term value. The property's location within designated HUB and Opportunity Zones adds further investment appeal. This is a rare chance to acquire a substantial property in a thriving area with diverse development possibilities. The asking price is $2,750,000. The property includes one building with a single unit. The parcel number is 5507-0000-0803.

• CAP approach

  CAP return

  Valuation

  6%

  $2,084,320

  6.5%

  $1,923,990

  7%

  $1,786,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,215,660

  Geo Method

  $1,215,660

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,768,380

  Mixed-Use / Specialty

  $1,910,490

  Hospitality / Lodging

  $1,393,030

  Office

  $1,892,230

  Institutional / Educational

  $1,983,770

  Residential Income

  $2,321,010

  Multifamily

  $2,820,480

  Automotive / Energy

  $1,700,380

  Parking / Income-Based Land

  $593,334

  Restaurant / Food Service

  $979,504

  Healthcare / Senior Housing

  $1,965,980

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.8759

Longitude

-76.9651

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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