Bruce Pl SE
Washington, DC 20020
Land For Sale
·
0.83 AC
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity to build approximately 32,505 SF of Multifamily space in the Barry Farm Submarket.
- Located within in close proximity to Congress Heights Metro Station.
- The site is surrounded by substantial new commercial and residential developments.
- Zoned RA-1 zoning allows for moderately densed development and approximately 40 Multifamly units on this site.
- The site is in an Opportunity Zone which offers an attractive tax incentive.
PROPERTY FACTS
DESCRIPTION
Marcus & Millichap is pleased to exclusively represent the owner of a prime redevelopment opportunity at Bruce Place SE, Washington, DC 20020, in the Barry Farm subdivision. This property, situated on a spacious .83-acre lot, offers a significant investment potential. Zoned RA-1, the parcel permits a .9 FAR, allowing for the construction of up to 32,505 square feet of residential space. This translates to the possibility of developing 40 multifamily units. Barry Farm is currently undergoing substantial redevelopment as part of a district-wide initiative to revitalize the area. The comprehensive redevelopment plan includes new housing, community amenities, retail spaces, and green areas. Early investment will be a benefit in a transforming neighborhood. The property boasts a strategic location in Southeast Washington, DC, with close proximity to downtown, Joint Base Anacostia-Bolling, Navy Yard, Nationals Park, Saint Elizabeths Hospital, National Harbor, the Yellow Line Metro station, and the 495 and 295 Beltways. Its connectivity to major highways and public transportation makes it an attractive site for residential and commercial developments, offering convenient access to key parts of the city, Maryland, and Virginia
PROPERTY TAXES
| Parcel Number | 5876-0849 | Improvements Assessment | $0 |
| Land Assessment | $734,260 | Total Assessment | $734,260 |
