Investment Overview

Marcus & Millichap is pleased to exclusively present 901 2nd Street NE, Washington, DC, a rare mixed-use development or owner/user opportunity located in the highly desirable NoMa/Union Market submarket of Northeast Washington, D.C. Positioned on a premier corridor just blocks from Union Station and Union Market, this MU-5A zoned asset offers investors, developers, and owner/users multiple paths to value creation in one of the District’s strongest performing urban neighborhoods. The property can be acquired as a development opportunity allowing approximately nine apartment units to be constructed as a matter-of-right under the existing MU-5A zoning. The site presents the opportunity to develop a boutique multifamily or condominium asset totaling approximately 5,771 square feet in a location where rental demand, walkability, and long-term appreciation continue to outperform much of the Washington, D.C. market. Based on projected stabilization, the property is anticipated to achieve an attractive 7.41%+ stabilized CAP rate, creating a compelling opportunity for investors seeking both near-term value creation and long-term income growth. Alternatively, the existing building configuration also creates a unique opportunity for an owner/user seeking to occupy all or a portion of the property while benefiting from future redevelopment potential. The site’s visibility, accessibility, and proximity to major transportation infrastructure make it ideal for a variety of commercial, creative office, showroom, retail, or live/work uses. 901 2nd Street NE is strategically positioned within walking distance of Union Station, one of the East Coast’s most significant transportation hubs providing access to Amtrak, MARC, Metro, and intercity bus service. The property is also minutes from Union Market, a nationally recognized retail and dining destination featuring award-winning restaurants, boutique retailers, and experiential entertainment venues. The surrounding NoMa and Union Market neighborhoods continue to attract substantial public and private investment driven by major employers including Google, NPR, SiriusXM, and the U.S. Department of Justice. The area is supported by strong residential absorption, continued population growth, and an expanding amenity base that attracts both residents and businesses alike. Nearby retailers and neighborhood amenities include Trader Joe’s, Whole Foods, REI, Starbucks, Chick-fil-A, CVS, Giant, Sweetgreen, and numerous high-end restaurants and entertainment venues.