Current NOI - $289,000. Cap rate expected to increase to 7.5% in 2010. 10 minutes walk to the White House! 1st level and basement are currently a thriving furniture store with beautiful show windows, the upper 2 are office spaces. 100% tenant occupied with a strong stable cash flow! Prominently located on the corner of 14th Street and Rhode Island Ave, NW, this 3 storied building plus the basement showroom enjoys the best exposure on the bustling 14th Street Corridor. Built in 1900 and meticulously renovated in 2002, the property features high ceilings, separate private entrances, skylights on the top floor, roof deck and open floor spaces. Please email us for financials and lease terms.
This landmark building is in close proximity to DuPont, Logan and Thomas Circles, and in walking distance to 3 metro stations. Historically known as Automobile Row, The 14th Street Corridor boasts a very unique architecture, dominated by showrooms and garage style structures with high ceilings, creating great spaces for urban chic condos, fine art galleries, such as Plan B, G Fine Arts, ACKC Gallery and Art Happens here. A lot of retail shops have also emerged, featuring furniture stores like Muleh, Vastu, Mitchell Gold + Bob Williams, Icon, Pixies and Reincarnations. Other shops include The Garden District, Bang & Olufsen and many more.
The stretch of 14th St. NW between U St. and Thomas Circle has been one of the greatest beneficiaries of the DC real estate boom in the last 10 years. A dozen buildings have been restored and converted into trendy restaurants, bars, galleries, businesses and condominiums.