Renovated Mixed-Use Retail & Residential | 3409 14th St NW
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Renovated Mixed-Use Retail & Residential 3409 14th St NW
3,800 SF Vacant Retail Building Online Auction Sale Washington, DC 20010
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Investment Highlights
- Fully renovated mixed-use asset that was renovated in 2024 and is located in Columbia Heights with no TOPA requirements.
- Features two three-bedroom, 2.5-bath penthouse residential units with luxury finishes, balconies and a private rooftop terrace.
- Two blocks away from the Columbia Heights Metro and five blocks away from the Georgia Avenue Metro.
- Contains 1,600 square feet of first-floor retail space, including two levels and two bathrooms.
- All units are separately metered for gas and electric, there are also two parking spots at the rear of the property.
- 3409 14th Street NW is located near national retailers, including Target, Lidl, Marshall's, IHOP, and many more.
Executive Summary
Marcus & Millichap is pleased to exclusively represent the owner of 3409 14th Street NW, a prime 3,800-square-foot mixed-use building situated in the heart of Columbia Heights, Washington, DC. Fully renovated in 2024, this four-story property seamlessly combines commercial and residential spaces, offering a unique and lucrative investment opportunity.
The bi-level retail suite spans 1,600 square feet and includes two bathrooms, making it ideal for various commercial uses such as retail, office, or medical practices. The two three-bedroom, two-and-a-half-bath residential units feature luxury finishes, balconies off the master bedrooms, and private rooftop terraces, providing breathtaking views of DC’s iconic landmarks. The property is separately metered for gas and electric, has a sprinkler system throughout, and the building includes rear on-site parking for two vehicles.
This property is perfect for an owner/user looking to establish their business on the ground-floor retail space or an investor seeking to lease the commercial space and the upper-level residential units. Delivering 100% vacant with no TOPA requirements, the property presents an exceptional opportunity to achieve a net operating income (NOI) of over $162,000 in the first year upon lease-up.
Columbia Heights is one of Washington, DC’s most dynamic and affluent neighborhoods, with 66% of residents holding a bachelor’s degree or higher and an average household income of $146,000. Just two blocks from the Columbia Heights Metro and five blocks from the Georgia Avenue Metro, the area is bustling with big-box retailers, diverse dining options, new residential developments, and a vibrant arts scene. The property is located within the Great Streets initiative, a program designed to bolster existing businesses, attract new ventures, and create job opportunities.
The bi-level retail suite spans 1,600 square feet and includes two bathrooms, making it ideal for various commercial uses such as retail, office, or medical practices. The two three-bedroom, two-and-a-half-bath residential units feature luxury finishes, balconies off the master bedrooms, and private rooftop terraces, providing breathtaking views of DC’s iconic landmarks. The property is separately metered for gas and electric, has a sprinkler system throughout, and the building includes rear on-site parking for two vehicles.
This property is perfect for an owner/user looking to establish their business on the ground-floor retail space or an investor seeking to lease the commercial space and the upper-level residential units. Delivering 100% vacant with no TOPA requirements, the property presents an exceptional opportunity to achieve a net operating income (NOI) of over $162,000 in the first year upon lease-up.
Columbia Heights is one of Washington, DC’s most dynamic and affluent neighborhoods, with 66% of residents holding a bachelor’s degree or higher and an average household income of $146,000. Just two blocks from the Columbia Heights Metro and five blocks from the Georgia Avenue Metro, the area is bustling with big-box retailers, diverse dining options, new residential developments, and a vibrant arts scene. The property is located within the Great Streets initiative, a program designed to bolster existing businesses, attract new ventures, and create job opportunities.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Approved Construction Documents
- Approved Drawings
Market Analytics Click Here to Access
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Market Sale Price per SF
Washington - DC USA
Market Cap Rate
Washington - DC USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Building Size
3,800 SF
Building Class
C
Year Built/Renovated
1909/2024
Percent Leased
Vacant
Tenancy
Multiple
Building Height
4 Stories
Building FAR
1.92
Land Acres
0.05 AC
Zoning
MU-4 - MU4- Commercial and Residential property with a wide range of commercial uses include retail/offices/restaurant/medical and much more
Parking
2 Spaces (0.53 Spaces per 1,000 SF Leased)
Frontage
13 FT on 14th St NW
Amenities
- Fenced Lot
- Metro/Subway
- Mezzanine
- Restaurant
- Roof Terrace
- Recessed Lighting
- Air Conditioning
- Balcony
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (79)
Bike Score ®
Biker's Paradise (91)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
75,082
363,012
758,828
2020 Population
84,771
390,575
787,837
2029 Population
67,472
330,426
712,020
2024-2029 Projected Population Growth
-10.1%
-9.0%
-6.2%
Daytime Employees
32,425
509,183
779,393
Total Businesses
3,976
44,342
70,524
Average Household Income
$136,742
$139,446
$140,117
Median Household Income
$105,344
$106,533
$107,602
Total Consumer Spending
$1.1B
$5.8B
$11.9B
Median Age
34.9
35.7
36.6
2024 Households
35,100
175,214
349,721
Percent College Degree or Above
26%
27%
26%
Average Home Value
$760,705
$758,447
$759,248
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 2836-0805 | Total Assessment | $893,340 |
| Land Assessment | $348,840 | Annual Taxes | ($1) |
| Improvements Assessment | $544,500 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
2836-0805
Land Assessment
$348,840
Improvements Assessment
$544,500
Total Assessment
$893,340
Annual Taxes
($1)
Tax Year
2023
Sale Advisors
Sale Advisors
Lorenzo Wooten, First Vice President - Investment Sales
(202) 536-3742
Contact
Lorenzo M. Wooten Jr., CCIM, is a First Vice President with Marcus & Millichap in Bethesda, MD, focused exclusively on representing sellers and buyers of investment properties throughout the Washington DC metro area. Lorenzo and his team have completed numerous transactions across all commercial product types including mixed-use, multifamily, land for development, and church sales. Lorenzo has continuously managed complex transactions such as zoning variances, challenges with TOPA, tenant issues, and providing financing solutions for his developer clients. Lorenzo’s relationships, knowledge of the market, and fourteen years of experience in commercial real estate sales have made him one of the top agents in the area.
Prior to joining Marcus & Millichap in November 2017, Lorenzo served as Managing Director with Keller Williams Commercial and Team Leader of The Wooten Group since 2009. As Managing Director, Lorenzo oversaw all commercial real estate transactions including leasing and sales. The Wooten Group has brokered over $34 million dollars in commercial real estate sales in 2021 and 2022. These transaction results made his real estate team one of the top commercial sales teams in the Washington DC metro area.
Lorenzo’s real estate career spans over twenty-five years including four years as a Loan Officer, five years as a Regional Manager with Fannie Mae, and eleven experience with real estate development.
His educational background includes obtaining a Bachelor of Science degree from Lincoln University and obtaining his M.B.A. from the University of Maryland, Global Campus. Lorenzo also received his Certified Commercial Investment Member (CCIM) designation in March 2015. Lorenzo is active in several local organizations including being a volunteer for Junior Achievement of America since 2014, a mentor with 100 Black Men of Prince George's County since 2015, and he is a member of fraternity Kappa Alpha Psi Fraternity Inc.
Prior to joining Marcus & Millichap in November 2017, Lorenzo served as Managing Director with Keller Williams Commercial and Team Leader of The Wooten Group since 2009. As Managing Director, Lorenzo oversaw all commercial real estate transactions including leasing and sales. The Wooten Group has brokered over $34 million dollars in commercial real estate sales in 2021 and 2022. These transaction results made his real estate team one of the top commercial sales teams in the Washington DC metro area.
Lorenzo’s real estate career spans over twenty-five years including four years as a Loan Officer, five years as a Regional Manager with Fannie Mae, and eleven experience with real estate development.
His educational background includes obtaining a Bachelor of Science degree from Lincoln University and obtaining his M.B.A. from the University of Maryland, Global Campus. Lorenzo also received his Certified Commercial Investment Member (CCIM) designation in March 2015. Lorenzo is active in several local organizations including being a volunteer for Junior Achievement of America since 2014, a mentor with 100 Black Men of Prince George's County since 2015, and he is a member of fraternity Kappa Alpha Psi Fraternity Inc.
Jacob Krens, Associate
(202) 536-3703
Contact
Jacob Krens is an Associate with the Wooten Group at Marcus & Millichap in Bethesda, MD, specializing exclusively in representing clients through investment sales of Mixed-Use and Multifamily properties in North West D.C. and Montgomery County, MD. The Wooten Group prides itself on its 15 years of experience in advising clients throughout the DMV in the creation and implementation of real estate strategies that aim to maximize their earning potential. The Wooten Group are experts in managing complex transactions including development, zoning variances, TOPA processes, tenant issues, and financing solutions.
Prior to joining Marcus & Millichap, Jacob earned his Bachelor’s Degree in Business Management from Florida State University before joining the United States Army. In the Army, Jacob served as a Human Resource and Finance Sergeant for four years, managing a team of specialists that provided support to a Battalion of over 800 Soldiers. Through his service, Jacob earned multiple awards and recognitions including two Army Commendation Medals, two Army Achievement Medals, The Global War on Terrorism Service Medal, and The Combat Action Badge.
Jacob is a Maryland native who enjoys playing basketball and rooting for the Baltimore Ravens. He also has a passion for volunteering at The Special Olympics and has done so for 10+ years.
License: MD: 5014896, DC: SP40002692
Prior to joining Marcus & Millichap, Jacob earned his Bachelor’s Degree in Business Management from Florida State University before joining the United States Army. In the Army, Jacob served as a Human Resource and Finance Sergeant for four years, managing a team of specialists that provided support to a Battalion of over 800 Soldiers. Through his service, Jacob earned multiple awards and recognitions including two Army Commendation Medals, two Army Achievement Medals, The Global War on Terrorism Service Medal, and The Combat Action Badge.
Jacob is a Maryland native who enjoys playing basketball and rooting for the Baltimore Ravens. He also has a passion for volunteering at The Special Olympics and has done so for 10+ years.
License: MD: 5014896, DC: SP40002692
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Keisha Hartshorn
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr BR40000233
-
Lorenzo Wooten -
Jacob Krens -
Marcus & Millichap
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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