2471 18th St NW - Storefront Retail/Residential FOR SALE


Washington, DC 20009- Adams Morgan
$2,500,000 USD
202-652-2334
2471 18th St NW, Washington, DC for Sale
$2,500,000 USD
Storefront Retail/Residential - FOR SALE
1/5
null | Request Cap Rate

2471 18th St NW
Washington, DC 20009
Adams Morgan


HIGHLIGHTS

  • Four-level 5,289 SF mixed use building in the heart of Adams Morgan
  • Recently renovated, the building is in excellent condition
  • Ground floor and lower level is second generation bar/restaurant space, with second and third floor as office/creative space
  • Class C (Tavern) license available separately
  • Unique owner/user opportunity in one of the most recognized commercial corridors in Washington, DC

OVERVIEW

The KLNB Urban sales team is thrilled to present an exceptional investment opportunity: the fee simple interest in 2471 18th Street NW, located directly on the 18th Street retail corridor in the heart of Adams Morgan. 2471 18th Street is a four-level 5,289 SF mixed-use building situated on a 1,742 SF lot zoned MU-5A, providing by-right FAR of 3.50. The building is in excellent condition and offers approximately 3,394 SF of newly renovated second-generation bar/restaurant space across the ground floor and lower level, plus approximately 1,895 SF of office/residential space on the second and third floors. The building also features ground-level roll up doors facing 18th St, and a 193 SF balcony accessible from the third floor. The property will be delivered vacant across all floors, presenting a rare opportunity to acquire a well-located 18th Street asset and execute a full re-tenanting strategy at market rents. The second-generation bar/restaurant build out on the ground floor and lower level provides a compelling opportunity for an incoming food and beverage operator, while the upper floors offer flexible office, creative or residential space that has recently been used as a recording and podcast studio. Located in the established Adams Morgan neighborhood, 2471 18th Street sits at the center of one of DC’s most vibrant and enduring commercial corridors, in a densely populated neighborhood with over 10,000 residents within a quarter mile of the property. Average household incomes exceed $170,000 with projected annual growth of 2.53% through 2029, reflecting the steady economic strength of the surrounding trade area. Separately, the owner controls a Class C (Tavern) license which is available for purchase. There are currently no available Tavern licenses in Adams Morgan according to ABCA. Class C Tavern license allows for on premises consumption of beer, wine, and spirits. It also includes an Entertainment endorsement (allowing for live entertainment) and a Carry-Out and Delivery, Holiday Extension, and Sports Wagering endorsement.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$473 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Bar, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

MU-5A

APN/PARCEL ID

2560-0079

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 Notice.