Overview
Newmark DC Capital Markets is pleased to present for sale 1720 I St NW (the “Property”), a 72,439 SF Office building ideally situated in the heart of Washington, DC’s Central Business District. Positioned just steps from the White House and Farragut Square, this 9-story office property presents an exceptional opportunity to acquire a highly visible asset with long-term upside potential. The Property is strategically located just one block from both Farragut West and Farragut North Metro Stations, offering unmatched connectivity and access to an array of retail, dining and hotel amenities in the surrounding area. Recent capital improvements include exterior façade upgrades, lobby and common area renovations, new front windows, cooling tower replacement and two full floors of spec suite buildouts.
Currently 55% leased, the Property provides in-place cash flow and flexibility to lease-up or owner-occupy. Currently, the top 5 floors totaling nearly 33,000 SF are unencumbered and ready to be owner-occupied or leased in the near term. Overall, 1720 I St NW presents a unique opportunity to acquire an extremely well-located asset below replacement cost, providing optimal flexibility for a variety of strategies.
Investment Highlights
- Boutique 72,439 SF office property in a prime CBD location
- Owner-User flexibility with nearly 33,000 SF immediately available on the upper 5 floors of the building
- Significant in-place cash flow at 55% occupancy
- Irreplaceable central business district location within two blocks of the White House and multiple metro stations
- Flexible D-6 zoning which allows office, retail, multifamily, hospitality, or any combination thereof, unlimited commercial FAR designed to promote high-density developments
- Newly renovated entrance, lobby, common areas and elevator cabs
- 7th and 9th floors are fully renovated and ready for immediate occupancy
- Walk and Transit Scores of 100
Photo Gallery
