Overview
Newmark has been exclusively retained to offer for sale 517-519 11th Street SE, a beautifully renovated, mixed- use building located on 11th Street, between Pennsylvania Avenue and G Streets SE in the Capitol Hill/Eastern Market neighborhood of Washington DC.
This elegant Art Deco style building features a variety of uses and income streams including first floor office, lower level self storage and second floor residential apartments and roof deck. Features of the building include high ceilings, oversized windows, large open spaces for internal meetings and gatherings and a separate entrance to the residential portion. Renovation improvements include bathroom and kitchen finishes and appliances, cabling and wiring and creation of a rooftop deck.
Investment Highlights
517-519 11th Street SE is a 9220 square foot two and one-half story building on a 3704 square foot lot in the Capitol Hill submarket of Washington DC. Zoned MU-4, the property conforms with the mixed use zoning and includes a variety of uses – 18 self storage units on the lower level, 3365 square feet of office space on the first level and two residential units, each 3 bedroom/2 bath that totaling 2,438 square feet on the second level.
The Net Operating Income for the last year resulting from the current program and tenancy is $214,396 with total gross potential revenue of $285,352. The income has been stable for many years with NOVO Development as the single office tenant and the residential units always leased.
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Sales Team
