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Multifamily Vacant-User

Grace Reformed Church

1401-1405 15th St NW, Washington, DC 20005

Listing Price: $5,650,000

Cap Rate
13.17%
Occupancy
95.0%
Price/Gross SF
$376.67
Gross SF
15,000

Investment Overview

Marcus & Millichap is pleased to present for sale the Grace Evangelical & Reformed Church located at 1401-1405 15th Street, NW, Washington, DC. The church of the late President Teddy Roosevelt located on the corner of 15th and P St NW. The church laid the cornerstone of Grace Reformed Church on July 1, 1902. President T. Roosevelt was known to walk from the White House to attend Sunday morning worship services during his presidency. The property sits on 7,200 SF of land and includes an attached townhouse (1892) on 15th Street (1405 15th Street NW) and an attached Sunday school building (1912) behind the church. The total combined interior area is approximately 15,000 SF. The property which is awaiting its new owner can appeal to various different industries and uses. The Sunday School building which is made up of a large open space and several smaller spaces can be closed off by retractable wooden panels. This open and closed concept would be great for co-working (with some private offices), co-living, tutorial/school house and indoor marketplace. The sanctuary & balcony which comfortable seats 350 people already has an elevated stage at the front with amazing acoustics which could be used as an event space (i.e weddings, small concerts, poetry, etc.) Behind the sanctuary and under the Sunday school house sits an restaurant sized kitchen and dinning area. This could be used to cater meals after events, or as a kitchen or all day restaurant for the co-living/working space. The townhome that is connected to the sanctuary could be used as operating offices for the event space/co-working additional private office or teachers corners if converted to a school. However, if those office were not needed the town house could be sold separately and proceeds used tp the owners disposal. The property has an amazing façade on 15th Street adjacent to a side alley running along its south side with an additional side entrance to the Sunday school. The townhouse is zoned ARTS-3 which permits medium-density, mixed-use development, and the church is zoned RA-5 which permits high-density multifamily that can go up to a height of 90 feet. The property is in a historic district and was added to the National Register of Historic Places in 1991. Located between Dupont and Logan Circle area of downtown Washington D.C., it is only five blocks from the Dupont Circle Metro and surrounded by Metrobus stops.

Investment Highlights

  • Beautiful and Architecturally Distinct Church with a Townhome Attached
  • Property Sits on 7,200 SF of Land
  • Located in the Bustling Dupont/Logan Circle Neighborhoods, Walking Distance to the 14th Street Corridor
  • Walking Distance to Metro
  • Many Restaurants and Shopping Locations within Walking Distance

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multifamily Vacant-User

Grace Reformed Church

Listing Price: $5,650,000

Cap Rate
13.17%
Occupancy
95.0%
Price/Gross SF
$376.67
Gross SF
15,000

Investment Highlights

  • Beautiful and Architecturally Distinct Church with a Townhome Attached
  • Property Sits on 7,200 SF of Land
  • Located in the Bustling Dupont/Logan Circle Neighborhoods, Walking Distance to the 14th Street Corridor
  • Walking Distance to Metro
  • Many Restaurants and Shopping Locations within Walking Distance

Investment Overview

Marcus & Millichap is pleased to present for sale the Grace Evangelical & Reformed Church located at 1401-1405 15th Street, NW, Washington, DC. The church of the late President Teddy Roosevelt located on the corner of 15th and P St NW. The church laid the cornerstone of Grace Reformed Church on July 1, 1902. President T. Roosevelt was known to walk from the White House to attend Sunday morning worship services during his presidency. The property sits on 7,200 SF of land and includes an attached townhouse (1892) on 15th Street (1405 15th Street NW) and an attached Sunday school building (1912) behind the church. The total combined interior area is approximately 15,000 SF. The property which is awaiting its new owner can appeal to various different industries and uses. The Sunday School building which is made up of a large open space and several smaller spaces can be closed off by retractable wooden panels. This open and closed concept would be great for co-working (with some private offices), co-living, tutorial/school house and indoor marketplace. The sanctuary & balcony which comfortable seats 350 people already has an elevated stage at the front with amazing acoustics which could be used as an event space (i.e weddings, small concerts, poetry, etc.) Behind the sanctuary and under the Sunday school house sits an restaurant sized kitchen and dinning area. This could be used to cater meals after events, or as a kitchen or all day restaurant for the co-living/working space. The townhome that is connected to the sanctuary could be used as operating offices for the event space/co-working additional private office or teachers corners if converted to a school. However, if those office were not needed the town house could be sold separately and proceeds used tp the owners disposal. The property has an amazing façade on 15th Street adjacent to a side alley running along its south side with an additional side entrance to the Sunday school. The townhouse is zoned ARTS-3 which permits medium-density, mixed-use development, and the church is zoned RA-5 which permits high-density multifamily that can go up to a height of 90 feet. The property is in a historic district and was added to the National Register of Historic Places in 1991. Located between Dupont and Logan Circle area of downtown Washington D.C., it is only five blocks from the Dupont Circle Metro and surrounded by Metrobus stops.

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): DC: BR200201612

    District of Columbia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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