Investment Overview

THE OPPORTUNITY As exclusive listing agent for the Chapter 7 Trustee approved by the United States Bankruptcy Court for the District of Columbia, Marcus & Millichap is pleased to present 619 H Street NW, an existing 17,655 square foot commercial asset, situated on a 5,458 square foot lot with over 70,000 square feet of by-right development potential and located in the heart of Chinatown, just two blocks from Capital One Arena, three blocks from CityCenterDC, and four blocks from the Convention Center. The sale of the asset is subject to a Chapter 7 Bankruptcy Process (Case No. 23-00104-ELG). THE ASSET 619 H Street NW currently operates as a three story plus basement commercial restaurant. The property is 17,655 gross square feet and is situated on a 5,458 square foot lot with favorable D-5-R zoning. The D-5-R zoning designation allows for 100% lot occupancy, unlimited FAR, and 110 feet of developable height plus a penthouse. By right, an investor has the potential to develop over 70,000 square feet of commercial property consisting of anything from multifamily, condominiums, mixed-use, retail, office or other desirable uses that complement the strong existing framework of the Penn Quarter / Chinatown neighborhood. Nearby condo outsales are averaging over $850 per square foot, apartment rents are averaging over $4.25 per square foot, retail leases are averaging around $75 per square foot, and retail sales are averaging nearly $600 per square foot All of these data points prove strong, sustained fundamentals in the surrounding submarket, making this a rare opportunity for a redevelopment project in downtown Washington, DC. THE LOCATION 619 H Street NW is located in the heart of Chinatown, just steps from two metro stations and a plethora of destination restaurants, high-end retail, popular museums, and culture throughout the Chinatown neighborhood. A few of the neighborhood highlights include, but are not limited to, Clyde’s of Gallery Place, Zaytinya by Jose Andres, Jaleo by Jose Andres, Succotash, RPM Italian, Capital One Arena, Ford’s Theatre, National Portrait Gallery, and many more. 619 H Street NW is also located just three blocks from CityCenterDC, an $850 million mixed-use project that is considered to be the “unequivocal centerpiece of Downtown DC”. Due to the property’s proximity to the White House, multiple metro stations, Union Station, and many of the major Smithsonian museums, there are strong fundamentals that support future appreciation in value for an investment in the short, medium, and long-term.