Description

The Subject Property which has been home to Nathan's Restaurant since 1969 will be delivered vacant. It sits at the main intersection (Southeast corner) of Georgetown where M Street NW meets Wisconsin Avenue. The building itself consists of 6,662 square feet across three stories and a full basement (2,709 SF) with a ceiling height of approximately 6' 6". There are actually two adjacent lots (3150 M Street NW and 1083 Wisconsin Avenue) which total 2,588 square feet.

Given the concerns of today's commercial real estate market there has been a significant flight to quality sites as increased vacancy rates nationwide have forced many investors and retailers to seek out more prestigious and prominent main-on-main locations. This is that location.

Street-level retail rental rates in Georgetown typically range from $50 - $125 per square foot. However a savvy investor may be able to exceed those figures due to the visibility and position of the subject property which boasts 70+ feet of frontage on Wisconsin Avenue and 40+ feet on M Street NW.

Georgetown is known worldwide for its high-end retail and restaurants. While historic Georgetown is one of Washington D.C.'s most popular tourism destinations, it is also home to many of the Washington elite. This mid-18th century colonial village which was originally a port town named for King George II has managed through the centuries to maintain the feel with which it was originally designed. The original homes and commercial buildings have been remarkably well maintained and this same historic charm that brought residents like John F. Kennedy and wife Jackie in the 1950's has allowed the area to grow into Washington D.C.'s most desirable neighborhood. Over the last few decades Georgetown has become the premier destination for high-end retail in the Mid-Atlantic region due to the affluence of its residents as well as its wide appeal for both foreign and domestic tourism.