Washington Retail for Sale - Northeast
Marcus & Millichap is pleased to exclusively present 2701 12th Street NE, a five-suite commercial asset located in the highly desirable and rapidly evolving Brookland neighborhood of Northeast Washington, D.C. Offered at $996,000, this property presents a compelling opportunity to acquire a partially leased, income-producing asset with immediate cash flow and clear upside through lease-up and stabilization.
The 2,788 SF property is currently 80% occupied by suite count (4 of 5 suites leased), including a first level retail tenant with a long-term NNN lease. This asset provides strong in-place income while offering investors the ability to capture additional value through leasing the remaining vacancy. Upon full stabilization, the asset is projected to generate a Pro Forma NOI exceeding $70,000, resulting in a projected cap rate just above 7.0%.
Originally renovated in 2018, 2701 12th Street NE has since seen further improvements, including updates to the commercial space in 2023 and renovations to the 2nd and 3rd floor office suites in 2021. This building also has an updated roof and new HVAC units (2). These renovations will eliminate any immediate capital improvement needs for this asset.
Situated just steps from the commercial corridor along Rhode Island Avenue NE and minutes from the Brookland-CUA Metro Station, the property benefits from strong foot traffic and exceptional connectivity to downtown Washington, D.C. and the broader metropolitan area. Its strategic location supports a wide range of neighborhood-serving retail, office, and service-oriented tenants.
The Brookland neighborhood has undergone significant transformation over the past decade. Once known for its religious institutions and quiet residential character, Brookland has emerged as one of Northeast D.C.’s most sought-after enclaves, driven by new development, public investment, and an influx of young professionals attracted to its affordability, walkability, and strong sense of community. The nearby Monroe Street Market, located just 0.09 miles away, has become a major destination offering retail, art studios, dining, and year-round events that draw visitors from across the region.
With its diversified tenant layout, strong in-place income, and clear path to stabilization, 2701 12th Street NE represents an ideal opportunity for investors seeking a value-add commercial asset in one of Washington, D.C.’s most dynamic and rapidly growing submarkets.
