301 Massachusetts Ave NE - Restaurant FOR SALE


Washington, DC 20002- Capitol Hill
$3,597,000 USD
703-787-4732
301 Massachusetts Ave NE, Washington, DC for Sale
$3,597,000 USD
Restaurant - FOR SALE
1/7
null | 6.25% Cap Rate

301 Massachusetts Ave NE
Washington, DC 20002
Capitol Hill


HIGHLIGHTS

  • The Smithsonian Postal Museum, Senate Fountain, U.S. Capitol, Library of Congress, Capital One Arena, and more are all within walking distance
  • The neighborhood averages a daytime population of 75,900+
  • The property is less than a mile from Eastern Market, D.C.’s oldest market that attracts 500,000 annual visitors
  • Strategically located at the hard corner intersection of Massachusetts Avenue and 3rd Street, averaging a combined 30,300 vehicles passing by daily

OVERVIEW

• Recent lease extension signed extending the lease term through April 2034 • 9+ years remain on lease with an additional 2 (5-year) option periods to extend • Features scheduled annual rental increases throughout the initial term • Fee Simple fully depreciable asset • Originating as a food cart in 2007, Pupatella has quickly become a household name for Neapolitan Pizza throughout the Washington, D.C. region • There are currently 10 established Pupatella restaurants with an additional location opening in Maryland soon • Strategically located at the hard corner intersection of Massachusetts Ave and 3rd St, averaging a combined 30,300 vehicles passing by daily • The 5-mile trade area is supported by over 795,900 residents and 922,800 employees • Residents within 1-mile boast an affluent AHHI of $197,911

FOR SALE DETAILS

PRICE

$3,597,000 USD

PRICE/SF

$866 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pupatella Restaurant - Washington, D.C.

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,500 SF

ZONING

MU-26

APN/PARCEL ID

0782-0020

ASK ABOUT THIS PROPERTY

Rick FernandezSRS Real Estate PartnersMore Info
703-787-4732

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

Rick FernandezSRS Real Estate PartnersMore Info
703-787-4732

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