Feldman Ruel is pleased to exclusively offer for sale 1631 North Capitol Street NE, a four-level commercial property that was most recently configured as ground-level retail with multifamily units above. The subject property will be delivered vacant and requires a full gut renovation, providing a purchaser the opportunity to reconfigure the asset. 1631 North Capitol Street NE is surrounded by development activity, including the transformation of the former McMillan Reservoir into the Reservoir District. This 25-acre project is planned to include approximately 600 residential units, one million square feet of healthcare space, and more than 75,000 square feet of retail along the North Capitol Street corridor. There is significant upside for an investor or owner-user willing to preform the renovation, as evidenced by surrounding development activity and nearby recent sales of operating properties which can exceed $400 per square foot.