3 Washington CirWashington, DC 20037

Property Details for 3 Washington Cir

Year built

1981

Construction

TILT-UP CONCRETE

Lot size

0.02 AC

Property size (Sq ft)

4,000 SF

Zone code

RA4

Property type

Office properties

APN

0038 2160

APU

382160

Description

This exceptional Class A medical office space, located at 3 Washington Circle Northwest - Unit G1 in Washington, DC's Foggy Bottom submarket, presents a unique investment opportunity. The 5,000 square foot building, constructed in 1981 and extensively renovated in 2016, boasts a desirable RA-4 zoning classification. Currently, 3,800 square feet are available for lease, previously configured as a state-of-the-art dental suite. This expansive space includes seven dental chairs, a reception area, a dedicated X-ray room, a bathroom, and a well-equipped kitchen. An additional 1,200 square feet is currently occupied by a chiropractic practice, featuring three treatment rooms, a restroom, ample storage, and a spacious waiting area. The building's prime location directly across from George Washington University Hospital ensures high visibility and convenient access to a large patient base. This property offers a rare chance to acquire a well-maintained, modern medical office space in a highly sought-after location within the District of Columbia county, zip code 20037. The building's multiple tenancy structure provides flexibility for various medical practices. This is an ideal opportunity for expansion or establishment of a thriving medical business in a vibrant and convenient urban setting.

• CAP approach

  CAP return

  Valuation

  6%

  $1,171,550

  6.5%

  $1,081,430

  7%

  $1,004,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $668,040

  Geo Method

  $668,040

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,153,670

  Retail / Commercial

  $1,099,580

  Mixed-Use / Specialty

  $1,091,870

  Hospitality / Lodging

  $796,131

  Institutional / Educational

  $1,133,750

  Residential Income

  $1,326,480

  Multifamily

  $1,611,930

  Automotive / Energy

  $971,782

  Parking / Income-Based Land

  $339,096

  Restaurant / Food Service

  $559,796

  Healthcare / Senior Housing

  $1,123,580

Location Insight

City

Washington

County

District Of Columbia

State

DC

Latitude

38.9032

Longitude

-77.0506

CBSA code

47900

CBSA name

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

Property Tax & Assessments

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