5140 Nannie Helen Burroughs Ave NE
Washington, DC 20019

Marcus & Millichap is pleased to present the exclusive offering of 5140 Nannie Helen Burroughs Avenue NE in the Deanwood neighborhood of Washington, D.C. This offering represents an opportunity to acquire a vacant office building situated at the corner of the highly trafficked intersection of Nannie Helen Burroughs Avenue NE and Division Avenue NE. The property is comprised of four levels totaling 18,420 gross square feet, and sits on a 9,555-square foot lot. The zoning on the property was recently changed from MU-3 to more favorable MU-4 zoning, allowing total buildable square footage by right of 32,487 with IZ and penthouse bonus. The property is fully sprinklered, an elevator that accesses all four floors, and approximately 11 onsite parking spaces. The property is ideal for a wide range of buyer profiles. An owner/user could benefit from the property’s Ward 7 location, which carries many incentives for businesses to locate their operations in the area. Because Nannie Helen Burroughs is designated as a Great Streets Corridor, small businesses can apply for grants to cover the costs of capital improvements. Additionally, the property is located in a Historically Underutilized Business Zone, which helps businesses gain preferential access to federal procurement opportunities. An investor could benefit from the strong demand for quality office space in Ward 7 & Ward 8. There are many D.C. government, non-profit and social service businesses that are required to locate their business in these neighborhoods, and with a lack of quality office product in the area, an investor would be well positioned to achieve strong rents for 5140 Nannie Helen Burroughs Avenue NE. Finally, a developer could unlock the 32,487 of buildable square footage permitted by right through utilizing the IZ and penthouse bonus. The property is located in the rapidly growing Deanwood neighborhood of Washington D.C., just over one mile away from the Deanwood Metro Station. While Deanwood has been historically underdeveloped and underserved, in recent years there has been a shift. The neighborhood is home to a rapidly growing housing market. In 2017, Redfin named Deanwood of the 10 hottest neighborhoods in the United States. Directly across the street, the historic Strand Theater is slated to be redeveloped into 86 residential units and 9,200 square feet of retail space. Just west, WMATA has plans to offer up the Deanwood Metro Station’s Park & Ride Area for development. Because the area is still in the early stages of its resurgence, 5140 Nannie Helen Burroughs Avenue NE offers an owner/user, investor or developer the opportunity to establish themselves in one of the fastest growing neighborhoods in the city with plenty of upside still available.