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- LoopNet Team
513 Kennedy St NW
Washington, DC 20011
513 Kennedy Street NW · Land For Sale
·
0.07 AC
INVESTMENT HIGHLIGHTS
- • Shovel-Ready at Closing | $146,000+ in Pre-Development Costs Completed
- • Unit Mix of 2 - 1BR/1BA, 6 - 2BR/1BA, 2 - 4BR/2.5BA
- • High-Demand Condominium Market | Recent Outsales Exceeding $600 Per SF
- • 11,721 Gross Buildable SF Across 4 Levels + Cellar & Penthouse
- • Raze & Underpinning Work Completed which will Mitigate Carrying Costs
- • Located in an Opportunity Zone which Offers Tax Benefits to Investors Developing Ground-Up Projects
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.07 AC |
| Property Subtype | Commercial | No. Stories | 2 |
| Proposed Use | |||
| Zoning | MU-4 - Permit moderate-density mixed-use development | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.07 AC |
| No. Stories | 2 |
| Zoning | MU-4 - Permit moderate-density mixed-use development |
DESCRIPTION
513 Kennedy Street NW is located in an Opportunity Zone, which offers tax benefits for those who develop ground-up or value-add projects in these designated areas. Kennedy Street has proven itself to be a viable condominium market, with some projects achieving well above $600 per square foot on recent outsales. While condominium prices are rising in the neighborhood, per-unit prices remain affordable for many first-time homebuyers, which allows for an expansive buyer pool for developers delivering projects in the area.
