505 Florida Ave NW 2,072 SF Vacant Retail Building Washington, DC 20001 $900,000 ($434.36/SF)
INVESTMENT HIGHLIGHTS
- • Owner-User Optionality | Delivered Vacant at Closing
- • Less than 1,000 Feet from the Shaw-Howard University Metro Station (Green Line)
- • Developing Area | 1,675 Multifamily Units Proposed or Under Construction Nearby
- • MU-4 Zoning Allows for Additional Density & Various Uses Including Retail, Office, & Residential
- • Located in an Opportunity Zone which Offers Tax Incentives for Investment & Development
EXECUTIVE SUMMARY
Feldman Ruel is pleased to offer for sale 505 Florida Avenue NW, a three-level property located in the Ledroit Park neighborhood of Washington, D.C. The subject property is within walking distance of the Shaw-Howard University Metro station and Howard University. Additionally, 505 Florida Avenue NW will be delivered 100% vacant. The occupancy, location, and flexible MU-4 zoning allows for numerous uses, making the subject property an excellent option for users and investors alike.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,072 SF
Building Class
C
Year Built
1900
Price
$900,000
Price Per SF
$434.36
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.75
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
MU-4
Parking
2 Spaces (0.97 Spaces per 1,000 SF Leased)
Frontage
15’ on Florida Ave NW
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (81)
Bike Score®
Biker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 3093-0802 | Improvements Assessment | $349,470 |
| Land Assessment | $496,030 | Total Assessment | $845,500 |
