Investment Overview

Marcus & Millichap is pleased to exclusively represent the owner of 1421 H Street NE, a mixed-use building with three stories, renovated in 2020, and located on the H Street Corridor. 1421 H Street NE is a 2,276 square foot mixed-use property that features a first and 2nd floor retail space including a a spacious lounge on the second floor. This building also includes two apartment units comprised of a studio unit, and a one-bedroom unit. The building sits on a .03 acre parcel, and it is zoned NMU-7B/H-A ,mixed-use medium density use). The retail space is currently vacant providing a new owner the opportunity to owner-occupy this portion of the building or lease the space to a retail tenant. The residential units are separately metered and fully leased with market rate tenants. Market rents (retail and residential) for the H Street corridor are increasing every year which allow a new owner the ability to increase cashflow with minimal capital improvements. In addition, the property features two parking spaces in the rear of the property. There is also street parking on H Street and rear access to the Maryland avenue street where there is additional street parking. The H Street corridor has experienced tremendous revitalization over the past several years surrounded by retail, award-winning restaurants, and new commercial real estate development . Transportation can be easily accessed through Union Station and the NoMa-Gallaudet metro stations, metro bus lines on H street and the DC Streetcar rail system which has almost 3,800 riders per weekday. 1421 H Street NE is centrally located between Union Market to the North, “NoMa” to the Northwest, and the historic neighborhood of Capitol Hill to the South. The property is also seven blocks away from Whole Foods, and walking distance to national retailers including Starbucks, CAVA, and Orangetheory Fitness, and numerous recently-delivered Class A , mixed-use buildings. This property offers an investor the opportunity to enter a rapidly transforming submarket at a relatively low-cost basis compared to other neighborhoods in Washington, DC.