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Mixed-Use

811 K Street NE - Church or Development Opportunity

811 K St NE, Washington, DC 20002

Listing Price: $4,450,000

Cap Rate
4.89%
Number of Units
1
Occupancy
100.0%
Price/Unit
$4,450,000
Price/Gross SF
$479.58
Gross SF
9,279

Investment Overview

Marcus & Millichap is pleased to represent the owner of 811 K Street, a renovated 9,500 +/- SF church on three levels situated on .19 acres. This RF-1 zoned building would be ideal for a User or a Developer. The building has a large sanctuary that seats at least 300 people, a large fellowship hall (100 + seats), a commercial-grade kitchen, multiple office spaces, and off-street parking. Built-in 1997, and renovated in 2015, recent upgrades have been made with the newer air condition units (4), an electrical heavy-up, plumbing upgrades, and newer windows. There is a development opportunity to convert this building situated on three parcels into six 1,500 +/- condo-townhomes by matter or right. An increase in density could be possible with BZA approval. The average resale of townhomes in this Old City I submarket is $800 per square foot. 811 K Street is located three blocks from Florida Avenue and two blocks from the H Street Corridor. H Street Corridor has undergone a major revitalization within a ten-block stretch including new retail, restaurants, condominiums, and office buildings. Local residents also benefit from the DC Streetcar on H Street. Major retailers include Whole Foods (.02 miles), Ben’s Chili Bowl (.03 miles), and H Street Country Club (.05 miles)

Investment Highlights

  • Three-story 9,500 SF renovated church on .19 acre parcel.
  • Ideal Opportunity for a church, non-profit User, a school, or a Developer.
  • Development opportunity to convert this building into six 1,500 condo-townhomes by a matter of right.

Exclusively Listed By

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

Mixed-Use

811 K Street NE - Church or Development Opportunity

Listing Price: $4,450,000

Cap Rate
4.89%
Number of Units
1
Occupancy
100.0%
Price/Unit
$4,450,000
Price/Gross SF
$479.58
Gross SF
9,279

Investment Highlights

  • Three-story 9,500 SF renovated church on .19 acre parcel.
  • Ideal Opportunity for a church, non-profit User, a school, or a Developer.
  • Development opportunity to convert this building into six 1,500 condo-townhomes by a matter of right.

Investment Overview

Marcus & Millichap is pleased to represent the owner of 811 K Street, a renovated 9,500 +/- SF church on three levels situated on .19 acres. This RF-1 zoned building would be ideal for a User or a Developer. The building has a large sanctuary that seats at least 300 people, a large fellowship hall (100 + seats), a commercial-grade kitchen, multiple office spaces, and off-street parking. Built-in 1997, and renovated in 2015, recent upgrades have been made with the newer air condition units (4), an electrical heavy-up, plumbing upgrades, and newer windows. There is a development opportunity to convert this building situated on three parcels into six 1,500 +/- condo-townhomes by matter or right. An increase in density could be possible with BZA approval. The average resale of townhomes in this Old City I submarket is $800 per square foot. 811 K Street is located three blocks from Florida Avenue and two blocks from the H Street Corridor. H Street Corridor has undergone a major revitalization within a ten-block stretch including new retail, restaurants, condominiums, and office buildings. Local residents also benefit from the DC Streetcar on H Street. Major retailers include Whole Foods (.02 miles), Ben’s Chili Bowl (.03 miles), and H Street Country Club (.05 miles)

Exclusively Listed By

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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