Press Releases
Marcus & Millichap Brokers $4.3M Sale of 13-Suite Retail and Office Property in Washington, D.C.
February 13, 2025
WASHINGTON, Feb. 13, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 6400 Georgia Avenue N.W., a 13-suite mixed-use property located in Washington, D.C. The property sold for $4.3 million.
“This was an exciting property to sell because of its location and the value-add opportunity for the new buyer, though it was also a challenging transaction due to the 50% vacancy," said Lorenzo Wooten, first vice president investments. "We generated five offers on this asset and were pleased to sell this mixed-use property at 100% of the list price to an owner-occupant.”
Wooten and Jacob Krens, investment specialists in Marcus & Millichap’s Washington D.C. office, had the exclusive listing to market the property on behalf of the estate of the family that owned this property.
The property is situated on 0.15 acres in Washington, D.C.’s Brightwood neighborhood, benefiting from a daily traffic count of more than 23,782 vehicles. It offers 20,680 square feet of office and retail space across two floors. The first floor’s seven suites are fully leased with triple net leases, including a Subway and other long-term local businesses. The second floor features six office suites, which were all vacant at the time of the sale.
“This was an exciting property to sell because of its location and the value-add opportunity for the new buyer, though it was also a challenging transaction due to the 50% vacancy," said Lorenzo Wooten, first vice president investments. "We generated five offers on this asset and were pleased to sell this mixed-use property at 100% of the list price to an owner-occupant.”
Wooten and Jacob Krens, investment specialists in Marcus & Millichap’s Washington D.C. office, had the exclusive listing to market the property on behalf of the estate of the family that owned this property.
The property is situated on 0.15 acres in Washington, D.C.’s Brightwood neighborhood, benefiting from a daily traffic count of more than 23,782 vehicles. It offers 20,680 square feet of office and retail space across two floors. The first floor’s seven suites are fully leased with triple net leases, including a Subway and other long-term local businesses. The second floor features six office suites, which were all vacant at the time of the sale.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
