1299 1st St SE
12,325 SF 100% Leased 4-Star Retail Building Washington, DC 20003 $23,175,000 ($1,880/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% occupied multi-tenant trophy real estate situated in one of the most coveted markets in the country
- All tenant leases are NNN with increases throughout primary terms and option periods - offering a management free, fully stabilized asset
- Population of 280,866 within a three-mile radius of the property; average household income of $145,220 within a one-mile radius of the property
- Located directly across from Nationals Park (Home to The Washington Nationals) offering unapparelled visibility in one of DC’s most coveted submarkets
- The ground floor is occupied by TD Bank – investment grade credit with $436 billion in total assets and 1,100+ locations nationwide
- Ideal for a 1031 exchange buyer seeking generational real estate that offers true passive income
EXECUTIVE SUMMARY
Offered for sale is a 100% net-leased, 12,325 square foot, multi-tenant retail property located at 1299 1st Street SE, Washington, DC. Built in 2021, this exceptional core urban asset is located directly across from Nationals Park, home of the Washington Nationals, offering unparalleled visibility in one of DC’s most desirable submarkets. Within a year of its completion, the property secured leases with four prominent retail tenants and a national signage company, all benefiting from the millions of visitors attending events at Nationals Park and Audi Field annually. As a result, tenants at 1299 1st St SE enjoy extremely high consumer foot traffic in one of the city’s busiest and most robust areas. This investment is a rare opportunity to acquire generational real estate with stable, management-free cash flow from a strong tenant mix in one of Washington, DC’s fastest-growing and most vibrant neighborhoods.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,325 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2021
Price
$23,175,000
Price Per SF
$1,880
Cap Rate
5.50%
NOI
$1,274,604
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.54
Lot Size
0.08 AC
AMENITIES
- LEED Certified
SUSTAINABILITY
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (82)
Bike Score®
Biker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0701-0169 | Improvements Assessment | $0 |
| Land Assessment | $2,143,340 | Total Assessment | $2,143,340 |
