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9,200 SF occupying an entire city block 2900-2906 Minnesota Ave SE 4,436 SF 100% Leased Retail Building Washington, DC 20019 $4,611,706 CAD ($1,039.61 CAD/SF) 5.18% Cap Rate
Investment Highlights
- Immediate access to I-295, Proximate to Pennsylvania Avenue SE & 1.8 mile from Minnesota Avenue Metro Station
- Zoned MU-3A tons of potential - may have future up zoning to MU-4
Executive Summary
Fortune Realty is pleased to exclusively present 2900-2924 Minnesota Avenue SE, on a 0.45 Acre Lot 9,200 SF occupying an entire city block. 2 contiguous building across 2 legal lots, 222 feet of street frontage, plenty of parking at the alley behind & side of building area. Nine (9) multi-tenant, a new owner has the flexibility to collect income from the leased portions while simultaneously occupying the remaining space to create additional upside. Located in HUB and Opportunity Zones, MU-3A Zoning allows for retail, medical and childcare. 2900 Minnesota Avenue SE may have future up zoning potential from its current MU-3A zoning designation (1.0 FAR + IZ / Affordable housing) to an MU-4 zoning designation (2.5 FAR + IZ / Affordable housing) through the map amendment or PUD process.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,436 SF
Building Class
C
Year Built
1948
Price
$4,611,706 CAD
Price Per SF
$1,039.61 CAD
Cap Rate
5.18%
NOI
$238,772 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.46
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
MU-3 - MU-3A Intended to permit low-density mixed-use development; and provide convenient retail and personal service establishments for local neighborhood.
Parking
15 Spaces (3.38 Spaces per 1,000 SF Leased)
Frontage
74’ on Minnesota Ave
Amenities
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | 5505-0035 | Improvements Assessment | $637,889 CAD |
| Land Assessment | $527,003 CAD | Total Assessment | $1,164,892 CAD |
Property Taxes
Parcel Number
5505-0035
Land Assessment
$527,003 CAD
Improvements Assessment
$637,889 CAD
Total Assessment
$1,164,892 CAD
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9,200 SF occupying an entire city block | 2900-2906 Minnesota Ave SE
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