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Property Detail

14th Street Northwest
Fully renovated mixed-use asset that was renovated in 2024 and is located in Columbia Heights .
$500,000

Description

  • Fully renovated mixed-use asset that was renovated in 2024 and is located in Columbia Heights with no TOPA requirements.
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  • Features two three-bedroom, 2.5-bath penthouse residential units with luxury finishes, balconies and a private rooftop terrace.
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  • Two blocks away from the Columbia Heights Metro and five blocks away from the Georgia Avenue Metro.
  • Contains 1,600 square feet of first-floor retail space, including two levels and two bathrooms.
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  • All units are separately metered for gas and electric, there are also two parking spots at the rear of the property.
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  • 3409 14th Street NW is located near national retailers, including Target, Lidl, Marshall's, IHOP, and many more.

Executive Summary

Marcus & Millichap is pleased to exclusively represent the owner of 3409 14th Street NW, a prime 3,800-square-foot mixed-use building situated in the heart of Columbia Heights, Washington, DC. Fully renovated in 2024, this four-story property seamlessly combines commercial and residential spaces, offering a unique and lucrative investment opportunity.

The bi-level retail suite spans 1,600 square feet and includes two bathrooms, making it ideal for various commercial uses such as retail, office, or medical practices. The two three-bedroom, two-and-a-half-bath residential units feature luxury finishes, balconies off the master bedrooms, and private rooftop terraces, providing breathtaking views of DC’s iconic landmarks. The property is separately metered for gas and electric, has a sprinkler system throughout, and the building includes rear on-site parking for two vehicles.

This property is perfect for an owner/user looking to establish their business on the ground-floor retail space or an investor seeking to lease the commercial space and the upper-level residential units. Delivering 100% vacant with no TOPA requirements, the property presents an exceptional opportunity to achieve a net operating income (NOI) of over $162,000 in the first year upon lease-up.

Columbia Heights is one of Washington, DC’s most dynamic and affluent neighborhoods, with 66% of residents holding a bachelor’s degree or higher and an average household income of $146,000. Just two blocks from the Columbia Heights Metro and five blocks from the Georgia Avenue Metro, the area is bustling with big-box retailers, diverse dining options, new residential developments, and a vibrant arts scene. The property is located within the Great Streets initiative, a program designed to bolster existing businesses, attract new ventures, and create job opportunities.
 

Renovated Mixed-Use Retail & Residential

Listing ID : 00587

SKU: 587

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Price History

DateEventPrice
December 3 2024Listed$500,000.00