6400 Georgia Ave NW
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6400 Georgia Ave NW
20,680 SF 100% Leased Retail Building Washington, DC 20012 $4,694,221 CAD ($227 CAD/SF) 8.06% Cap Rate
Investment Highlights
- Opportunity to Achieve a 8.06% CAP Rate with this 20,680 SF Mixed-Use Building. 12,155 Rentable Square Feet among 13 Suites
- Recent Improvements in 2024 Include a new Roof, a new Sump Pump, and other building improvements
- Zoned MU-4 Which Offers a 3.0 FAR on this .15 Acre Parcel
- A Mix of Seven Retail First Floor Suites and Six Office Suites on the Second Level
- Located on a busy major thoroughfare within minutes of several metro stations and downtown Silver Spring
- An Opportunity to Purchase the Adjacent .44 Acre Parking Pad with 40 Spaces
Executive Summary
New Price Reduction - 8/19/2024. Marcus & Millichap is pleased to exclusively represent the owners of 6400 Georgia Avenue NW, a prime mixed-use building in the vibrant Brightwood neighborhood of NW Washington, DC.
This well-maintained property offers a total of 20,680 square feet of office and retail space across two stories, plus an additional 10,000 square feet of finished lower-level space with impressive 11-foot ceilings. Zoned MU-4, the building supports retail, office, and residential uses with a 3.0 FAR as a matter of right. Recent upgrades in 2024 include a new roof, a sump pump, and various other enhancements.
The first-floor hosts seven fully leased retail spaces, including a prominent Subway franchise restaurant and several long-term local businesses, all under NNN leases. The second-floor features six office suites, two of which are currently leased. With a 28% vacancy, an investor can enjoy an immediate 8.06% CAP rate, with potential for a 10.46% CAP rate and a 17.94% cash-on-cash return once fully stabilized.
Adjacent to the building is a .44-acre parcel, also available for sale. Currently serving as a 40 space parking lot for 6400 Georgia Avenue, this site also offers potential for redevelopment into three residential single-family homes.
Situated on a .15-acre corner lot at Georgia Avenue and Tuckerman Street, this property benefits from high visibility and a daily traffic count of 23,782 vehicles. The surrounding area features residential single-family homes and commercial retail centers, including the Piney Branch Shopping Center anchored by Safeway, just a block away.
The Brightwood neighborhood is undergoing significant development, including the transformative 66-acre Parks at Walter Reed project, which will offer 3.1 million square feet of residential, retail, and office space. Nearby amenities include Walmart, Safeway, and the newly opened Art Place at Fort Totten. Brightwood’s strategic location ensures excellent connectivity, with easy access to major transportation routes and metro stations such as Takoma Park, Georgia Avenue-Petworth, and Fort Totten, facilitating seamless travel throughout Washington, DC, and downtown Silver Spring, MD.
This well-maintained property offers a total of 20,680 square feet of office and retail space across two stories, plus an additional 10,000 square feet of finished lower-level space with impressive 11-foot ceilings. Zoned MU-4, the building supports retail, office, and residential uses with a 3.0 FAR as a matter of right. Recent upgrades in 2024 include a new roof, a sump pump, and various other enhancements.
The first-floor hosts seven fully leased retail spaces, including a prominent Subway franchise restaurant and several long-term local businesses, all under NNN leases. The second-floor features six office suites, two of which are currently leased. With a 28% vacancy, an investor can enjoy an immediate 8.06% CAP rate, with potential for a 10.46% CAP rate and a 17.94% cash-on-cash return once fully stabilized.
Adjacent to the building is a .44-acre parcel, also available for sale. Currently serving as a 40 space parking lot for 6400 Georgia Avenue, this site also offers potential for redevelopment into three residential single-family homes.
Situated on a .15-acre corner lot at Georgia Avenue and Tuckerman Street, this property benefits from high visibility and a daily traffic count of 23,782 vehicles. The surrounding area features residential single-family homes and commercial retail centers, including the Piney Branch Shopping Center anchored by Safeway, just a block away.
The Brightwood neighborhood is undergoing significant development, including the transformative 66-acre Parks at Walter Reed project, which will offer 3.1 million square feet of residential, retail, and office space. Nearby amenities include Walmart, Safeway, and the newly opened Art Place at Fort Totten. Brightwood’s strategic location ensures excellent connectivity, with easy access to major transportation routes and metro stations such as Takoma Park, Georgia Avenue-Petworth, and Fort Totten, facilitating seamless travel throughout Washington, DC, and downtown Silver Spring, MD.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$500,687
|
$41.19
|
| Other Income |
$51,635
|
$4.25
|
| Vacancy Loss |
$20,027
|
$1.65
|
| Effective Gross Income |
$532,295
|
$43.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
$154,018
|
$12.67
|
| Total Expenses |
$154,018
|
$12.67
|
| Net Operating Income |
$378,277
|
$31.12
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $500,687 |
| Annual Per SF | $41.19 |
| Other Income (CAD) | |
|---|---|
| Annual | $51,635 |
| Annual Per SF | $4.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $20,027 |
| Annual Per SF | $1.65 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $532,295 |
| Annual Per SF | $43.79 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $154,018 |
| Annual Per SF | $12.67 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $154,018 |
| Annual Per SF | $12.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $378,277 |
| Annual Per SF | $31.12 |
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
20,680 SF
Building Class
C
Year Built
1952
Price
$4,694,221 CAD
Price Per SF
$227 CAD
Cap Rate
8.06%
NOI
$378,276 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
3.16
Land Acres
0.15 AC
Zoning
MU-4 - The Mixed-Use (MU) zones provide for mixed-use developments. 3.0 FAR with 50' Max Height.
Parking
40 Spaces (1.93 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signalized Intersection
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 2945-0851 | Total Assessment | $4,668,528 CAD (2023) |
| Land Assessment | $1,247,778 CAD (2023) | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $3,420,750 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2945-0851
Land Assessment
$1,247,778 CAD (2023)
Improvements Assessment
$3,420,750 CAD (2023)
Total Assessment
$4,668,528 CAD (2023)
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2024
-
Jacob Krens -
Lorenzo Wooten -
Marcus & Millichap
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6400 Georgia Ave NW
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