Taco Bell - (Capitol Hill - Barracks Row) DC 411 8th St SE 4,200 SF Retail Building Washington, DC 20003 $2,600,000 ($619.05/SF) 5.01% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10 year Taco Bell of America Corporate signed lease, 2 (5-year) options
- New building – 2024-2025 ground up construction
- 99% of the acquisition price is a depreciable asset
- 2% annual rent increases
- NNN 2,100 SF street level retail condo
- 78,000 daytime employees with a 10 minute walk of the property
EXECUTIVE SUMMARY
• New 10 year Taco Bell of America Corporate signed lease with 2 (5-year) options to extend
• The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and providing a hedge against inflation
• The asset features brand new ground up construction and 2,100 SF of street level retail
• Tenant reimburses for taxes, insurance, and CAM which includes property management
• Ideal, low-management investment for a passive investor
• 99% of the acquisition price is a depreciable asset
• Capitol Hill is known as the Federal Government’s Commercial District with an abundance of shops, eateries, federal institutions, and more
• The neighborhood averages a daytime population of 75,900+
• There is currently 1.1 million SF of existing office space
• Strategically located along 8th Street Southeast, an arterial thoroughfare that supports over 14,000 vehicles per day
• The property is ideally situated near many national/credit tenants, office complexes, museums, and additional tourist attractions, providing a direct consumer base
• The U.S. Capitol, White House, Downtown, and Lincoln Memorial, and more are all within walking distance to the subject
• The property is less than one mile away from Eastern Market, D.C.’s oldest market that attracts 500,000 annual visitors
• The 5-mile trade area from the subject is supported by over 762,000 residents and 909,000 daytime employees
• $211,989 average household income within a 1-mile radius
• The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and providing a hedge against inflation
• The asset features brand new ground up construction and 2,100 SF of street level retail
• Tenant reimburses for taxes, insurance, and CAM which includes property management
• Ideal, low-management investment for a passive investor
• 99% of the acquisition price is a depreciable asset
• Capitol Hill is known as the Federal Government’s Commercial District with an abundance of shops, eateries, federal institutions, and more
• The neighborhood averages a daytime population of 75,900+
• There is currently 1.1 million SF of existing office space
• Strategically located along 8th Street Southeast, an arterial thoroughfare that supports over 14,000 vehicles per day
• The property is ideally situated near many national/credit tenants, office complexes, museums, and additional tourist attractions, providing a direct consumer base
• The U.S. Capitol, White House, Downtown, and Lincoln Memorial, and more are all within walking distance to the subject
• The property is less than one mile away from Eastern Market, D.C.’s oldest market that attracts 500,000 annual visitors
• The 5-mile trade area from the subject is supported by over 762,000 residents and 909,000 daytime employees
• $211,989 average household income within a 1-mile radius
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,200 SF
Building Class
B
Year Built
1982
Price
$2,600,000
Price Per SF
$619.05
Cap Rate
5.01%
NOI
$130,200
Tenancy
Single
Building Height
2 Stories
Building FAR
1.53
Lot Size
0.06 AC
Zoning
MU-25 - intended to permit moderate-density mixed-use development consistent with the purpose of Subtitle G
Frontage
19’ on 8th St
AMENITIES
- Air Conditioning
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (87)
Bike Score®
Very Bikeable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0902-0016 | Improvements Assessment | $1,225,760 |
| Land Assessment | $743,660 | Total Assessment | $1,969,420 |
