Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase a rare assemblage of three parcels totaling +/- .47 acres of land between Congress Street and L Street NE in one of the most actively developed submarkets in Washington DC. This assemblage sale sits at the intersection of Northeast D.C.’s most iconic neighborhood — NoMa (stands for North of Massachusetts Avenue), H Street and Union Station. This development opportunity is walking distance from high-end retail, dining, nightlife, entertainment and more. Across the street is the historic Uline Arena, and Union Station is five blocks away which easily connect residents to all of Washington D.C., and the entire East Coast. NoMa and the adjacent neighborhoods of H Street, and Union Market have become a few of the most popular and walkable communities in the nation’s capital and the DMV region. NoMa is the fastest growing neighborhood in Washington DC with nearly 27.4 million square feet of dynamic office, hotel, retail and residential space. NoMa continues to grow with an additional 1.9 million square feet under construction in 2024. A development opportunity is to pursue a consolidated Planned Use Development (“PUD”) and Map Amendment from the existing PDR-3 zone to the MU-10 zone which would allow for more lucrative uses and a higher density over the existing zoning. This portfolio presents prospective developers of mixeduse commercial, multifamily, or retail a unique, well-situated and highly visible land assemblage allowing for spectacular development opportunities. The use permissions for MU-10 would allow for +/- 167,000 SF of residential, retail, office, or restaurant space. The immediate surrounding area is complemented by new construction of mixed-use residential and retail buildings that have received zoning modifications including Union Place (2021), Loree Grand at Union Place Apartments (2020), Ceilo (2018), and Rigby (2016). Each of these properties are within three blocks from this assemblage sale. Gallaudet University, Washington Hospital, Amtrak, are justa few of the large employers in NoMa. Another economic driver is the U.S. Securities and Exchange Commission which announced plans to build 1.2 million-SF tower on New York Avenue in 2026. Recently named the fastest-growing neighborhood in the country, NoMa is experiencing unprecedented growth and development. With new businesses, buildings, and projects continually transforming the landscape, the neighborhood is a hub of opportunity. NoMA has a daytime population of 113,106 people within a one-mile radius. Local transportation includes Amtrak Union Station, Union Station Metro, NoMA Metro, New York Avenue metro. This location has access to fast and convenient transportation to and from every section of Washington, DC. Recently named the fastest-growing neighborhood in the. With new businesses, dining, entertainment, buildings, and projects continually transforming the landscape, this neighborhood is a hub of opportunity.