1734 Wisconsin AveWashington, DC 20007

  • Retail properties
  • 1,350 SF
For Sale
$1,929,900 View listing

Property Details for 1734 Wisconsin Ave

Year built
1923
Construction
BRICK
Lot size
0.03 AC
Property size (Sq ft)
1,350 SF
Zone code
MU-4
Property type
Retail properties
Property subtype
Turn key restaurants
APN
1298 0809
APU
12980809

Description

This exceptional mixed-use property at 1734 Wisconsin Ave NW, Washington, DC 20007, presents a compelling value-add investment opportunity. The 2,500 square foot building, constructed in 1923 and renovated in 2010, boasts a Class A designation and currently houses the Shanghai Lounge, a fully operational restaurant with a 7-year lease commencing February 28, 2023, and expiring February 28, 2030. The restaurant occupies both floors, offering seating for 50 patrons (20 on the first floor and 30 on the second). Additional space on the second floor could be used for office or residential purposes. A lower level provides storage and a bathroom. The property includes one parking space. The building features masonry construction and is zoned MU-4. Its prime location in Georgetown offers excellent visibility and high foot traffic, benefiting from proximity to Embassy Row, Georgetown University, American University, George Washington University, and numerous attractions. The sale includes a full liquor license. The asking price is $1,929,900 ($771.96/sq ft). Note: Approximate 2013 business revenue was $500,000/year. Confidentiality is required. Lot size is 0.03 acres.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $512,855
    6.5%
    $473,404
    7%
    $439,590
  • Comparable approach

    Method
    Valuation
    Relative Method
    $568,168
    Geo Method
    $568,168
  • Alternative Use

    Use
    Valuation
    Residential
    $399,334
    Hospitality
    $365,788
    Educational
    $304,331
    Medical
    $314,798
    Retail
    $473,404
1734 Wisconsin Ave, Washington, District of Columbia

Location Insight

City
Washington
County
District Of Columbia
State
DC
Latitude
38.9146
Longitude
-77.0674
CBSA code
47900
CBSA name
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$15,981
$414,650
$396,360
$811,010
-
$414,650
$396,360
$811,010

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