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10-Unit Shovel-Ready Development Site 1919 Benning Rd NE 11,216 SF 100% Leased Retail Building Washington, DC 20002 $875,000 ($78.01/SF)
INVESTMENT HIGHLIGHTS
- Truly Shovel-Ready 10-Unit Multifamily Development Project | Conveys with Building Permit
- No IZ Units Required Allowing for Maximum Outsale or Rental Proceeds
- 3,043 Multifamily Units and 88,600 Square Feet of Retail Either Proposed or Under Construction in a 1-Mile Radius
- All 2-Bedroom Units with Outdoor Spaces | Amenities Include On-Site Parking
- Conveniently Located within One Block of Multiple Metrobus & DC Streetcar Stops
EXECUTIVE SUMMARY
Feldman Ruel is pleased to present 1919 Benning Road NE, a fully-permitted development site located in the burgeoning Kingman Park neighborhood of Washington, D.C. This 10-unit development site is a truly shovel-ready project that allows a buyer to break ground immediately after closing, thereby mitigating carrying costs and avoiding the Washington, D.C. notoriously cumbersome entitlement process.
1919 Benning Road NE represents a unique opportunity for a developer to acquire a truly shovel-ready project. At closing, ownership will convey to the purchaser all necessary approvals and permits to build ten condominium or rental units thereby eliminating entitlement risk and significantly reducing carrying costs.
1919 Benning Road NE represents a unique opportunity for a developer to acquire a truly shovel-ready project. At closing, ownership will convey to the purchaser all necessary approvals and permits to build ten condominium or rental units thereby eliminating entitlement risk and significantly reducing carrying costs.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
11,216 SF
Building Class
C
Year Built
1925
Price
$875,000
Price Per SF
$78.01
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Building FAR
5.19
Lot Size
0.05 AC
Zoning
MU-5A - permit moderate-density mixed-use development at a limited height and with an emphasis on housing
Frontage
21’ on Benning Rd
AMENITIES
- Air Conditioning
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (91)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 4514-0810 | Improvements Assessment | $431,940 |
| Land Assessment | $388,150 | Total Assessment | $820,090 |
PROPERTY TAXES
Parcel Number
4514-0810
Land Assessment
$388,150
Improvements Assessment
$431,940
Total Assessment
$820,090
CONTACTS
-
Josh Feldman -
Ian Ruel -
Adam Costanzo -
Feldman Ruel Urban Property Advisors, LLC
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10-Unit Shovel-Ready Development Site | 1919 Benning Rd NE
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