2001-2003 Benning Rd NE
Washington, DC 20002
Retail Property For Sale

The Feldman Group of Marcus & Millichap is pleased to present the exclusive offering of 2001-2003 Benning Road NE. 2001-2003 Benning Road NE is a four-level, mixed-use building located in the Kingman Park neighborhood of Northeast Washington, D.C. While the sublevel and third level are in need of renovation prior to lease-up, the first level is fully leased to a retail tenant and the second level is fully leased to an office tenant. 2001-2003 Benning Road NE represents a unique opportunity for an investor or owner-operator to acquire a four-level, 11,856-square foot building located on a corner with in-place leases generating cash flow. The vacant sublevel was previously leased by Arabian Lounge, and although it is in need of renovation, it is rentable space and has two points of ingress and egress. The first and second levels are 100% leased, and while the third level is in need of renovation prior to lease-up, it represents additional income potential for the asset. As the area continues to develop, the subject property' s corner location makes it an attractive long-term investment. 2001-2003 Benning Road NE is located in the rapidly evolving neighborhood of Kingman Park. Although it has a rich history dating back to its founding in 1927, the neighborhood had been on the periphery of much of the recent development boom within the District in the early 2000' s. However, with the recent explosion of H Street NE and the introduction of the street car, which has served to make the surrounding neighborhoods more accessible for its residents, Kingman Park has become a sought-after neighborhood. Developers are beginning to take notice. Small residential projects have begun to pop up throughout the neighborhood, appealing to young professionals and families attracted to the reasonable housing prices and emerging local amenities. S2 Development recently announced a thirty-two unit multifamily project a block east from the subject property, showing that well-known developers are aware of the demand for housing in the neighborhood.