1359 U St NW - Freestanding FOR SALE


Washington, DC 20009- U Street
$2,100,000 USD
202-652-2334
1359 U St NW, Washington, DC for Sale
$2,100,000 USD
Freestanding - FOR SALE
1/5
null | 7.6% Cap Rate

1359 U St NW
Washington, DC 20009
U Street


HIGHLIGHTS

  • New ten-year lease with annual rent increases backed by experienced operator with multiple locations in the corridor
  • Two-stories + mezzanine with building upgrades invested by new tenant
  • Tenant responsible for expense pass through providing minimal landlord responsibility
  • Metro location

OVERVIEW

1359 U St provides an investor the exciting opportunity to acquire a prime asset at the intersection of the U and 14th Street Corridors in Washington DC. The asset is a ±2,100 SF two-story + mezzanine building that has a new ten-year lease with Hashtag nightclub. Hashtag is owned by an experienced operator who has several other successful bar/nightclub concepts nearby on the U Street Corridor demonstrating his experience and profitability in the area. Additionally, the lease has 3% annual base rent increases providing an investor steady and increasing cash flow over time. With an abundance of bars, restaurants, and residences, the U Street Corridor is a huge draw for Washington DC’s young population due to its live-work-play environment. Further with its proximity to U Street Metro Station, a 3-minute walk away, 1359 U Street is easily accessible and commuter-friendly. 1359 U Street offers the chance for an owner/user or investor to acquire a quality asset within a dense and vibrant neighborhood.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$875 USD /SF

CAP RATE

7.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1905

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

828 SF

ZONING

ARTS-4

APN/PARCEL ID

0236-0805

ASK ABOUT THIS PROPERTY

Vito LupoKLNBMore Info
202-652-2334

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Vito LupoKLNBMore Info
202-652-2334

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.