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Vacant Building

Development Opportunity | Trinidad

1920 - 1922 Benning Road NE, Washington, DC 20002

Listing Price: $1,500,000

Cap Rate
6.99%
Gross SF
3,084
Price/Gross SF
$486.38

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1920 - 1922 Benning Road NE, Washington, DC 20002. This property is situated on a .06-acre lot in the Trinidad subdivision of Northeast DC. This site is zoned MU-5A with a FAR of 4.2.

1920-1922 Benning Road NE is ideal for a User or an Investor who is seeking to convert these two buildings totaling 3,084 SF into a 14-unit apartment with 2,000 SF of first-floor retail space. A total of 13,200 SF. Once this building is stabilized an Investor can achieve a 7.35% +/- CAP Rate.

This H-Street/Benning Road corridor also known as "Downtown Ward 7", is experiencing substantial mixed-use development. The neighborhood also serves as the headquarters for major employers such as Pepco, DC’s Department of Employment Services, and Unity Health Care. This corridor is experiencing substantial public and private investment which is generating exciting opportunities for small businesses to grow.

1920-1922 Benning Road is located in an Opportunity Zone and the city has designated this major thoroughfare as a "Great Street" corridor which means owners can receive business grants from the city up to $75,000 (www.greatstreets.dc.gov).

1920-1922 Benning Road NE sits blocks away from entertainment/eatery options in Union Market and from major retailers on the H Street corridor. The District Department of Transportation (DDOT) has initiated the final design phase of the "Benning Road Bridge and Transportation Improvement" project. This final design phase will improve Benning Road NE by expanding the route for the DC streetcar, widening lanes for bicycle users and it will make this corridor more walkable.

Investment Highlights

  • A 3,200 SF Mixed-Use Property on a .06 acre Parcel in the Trindidad Submarket with a MU-5A Zoning.
  • A Unique Opportunity to Redevelop this Building into 14 Apartment or Condominium Units with First Floor Retail Space as a Matter of Right. A total of 13,200 SF.
  • An Opportunity to Achieve a 7.35% +/- CAP Rate After this Building is Stabilized.
  • This Property is Located in an Opportunity Zone and it is located on a "Great Street" Corridor.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Vacant Building

Development Opportunity | Trinidad

Listing Price: $1,500,000

Cap Rate
6.99%
Gross SF
3,084
Price/Gross SF
$486.38

Investment Highlights

  • A 3,200 SF Mixed-Use Property on a .06 acre Parcel in the Trindidad Submarket with a MU-5A Zoning.
  • A Unique Opportunity to Redevelop this Building into 14 Apartment or Condominium Units with First Floor Retail Space as a Matter of Right. A total of 13,200 SF.
  • An Opportunity to Achieve a 7.35% +/- CAP Rate After this Building is Stabilized.
  • This Property is Located in an Opportunity Zone and it is located on a "Great Street" Corridor.

Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1920 - 1922 Benning Road NE, Washington, DC 20002. This property is situated on a .06-acre lot in the Trinidad subdivision of Northeast DC. This site is zoned MU-5A with a FAR of 4.2. 1920-1922 Benning Road NE is ideal for a User or an Investor who is seeking to convert these two buildings totaling 3,084 SF into a 14-unit apartment with 2,000 SF of first-floor retail space. A total of 13,200 SF. Once this building is stabilized an Investor can achieve a 7.35% +/- CAP Rate. This H-Street/Benning Road corridor also known as "Downtown Ward 7", is experiencing substantial mixed-use development. The neighborhood also serves as the headquarters for major employers such as Pepco, DC’s Department of Employment Services, and Unity Health Care. This corridor is experiencing substantial public and private investment which is generating exciting opportunities for small businesses to grow. 1920-1922 Benning Road is located in an Opportunity Zone and the city has designated this major thoroughfare as a "Great Street" corridor which means owners can receive business grants from the city up to $75,000 (www.greatstreets.dc.gov). 1920-1922 Benning Road NE sits blocks away from entertainment/eatery options in Union Market and from major retailers on the H Street corridor. The District Department of Transportation (DDOT) has initiated the final design phase of the "Benning Road Bridge and Transportation Improvement" project. This final design phase will improve Benning Road NE by expanding the route for the DC streetcar, widening lanes for bicycle users and it will make this corridor more walkable.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

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