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7305 Georgia Avenue NwWashington, DC 20012MLS Number DCDC2093162

  • Price: $1,300,000
  • 382 Days on Market
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Federal 30-year interest rate: 6.99% last updated on Jun 6, 2024
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  • 0.04Acreage
  • 1927Year Built
  • 587Price Per Square Foot
  • 1Units
PRICE ADJUSTMENT! Established, modern 2-level multi-use building located in a prime business location with booming development all around. Prominently situated within walking distance to the all-new multi-phase development; The Parks at Historic Walter Reed with a new Whole Foods Market. The Parks is a major, one billion dollar project in development. Strong potential for increased foot traffic and values as part of the vibrant and progressing Brightwood neighborhood. This turn-key property is subject to one residential lease ending 2/29/2024. The retail space is vacant. The updated storefront unit is built out into a hair salon that originally opened in 1999 and remodeled in 2012. It features a large open space with LVP flooring, modern lighting, 6 stylist stations, an esthetician station, 3 shampoo stations and multiple hair drying stations, a half bath, and a staff lounge/storage area. The upper level offers a fully remodeled open floor plan unit with 2 bedrooms, Den, 1 full bath, an attractive open kitchen with stainless steel appliances (two ovens), granite countertops, large center island with granite, hardwood floors, stacked washer and dryer, trendy metal stair railing - urban charm! The exterior offers a large private deck, 1 parking space in the rear of the building and ample street parking. There is also a basement area where the utilities are housed. Units are separately metered. This offering is a rare opportunity to acquire a self-sufficient real estate investment with strong property management. Are you a seasoned stylist or barber and ready to step into your destiny of salon ownership - do not miss this fantastic opportunity! Become an owner occupier, live upstairs and work while running your salon or other business downstairs. Property being sold AS-IS. Weekend showings require 24 hours' notice. All showings by appointment.
Listed by Nyya Wellington Bance, Long & Foster Real Estate,Inc.

Driving Directions

Yeonas & Shafran Real Estate, LLC
Yeonas & Shafran Real Estate, LLC
Office: 703-790-3330
1309 Vincent Pl
McLean, VA 22101

More Info

Location Information

  • UsmAreaWashington

Parking

  • Parking FeaturesPrivate
  • Parking TypesDriveway

Basic Information

  • Date Listed05/28/2023

Location

  • Address7305 Georgia Avenue Nw
  • Building Number7305
  • CountyWashington
  • Cross StreetFern Place, NW
  • DirectionsBetween Geranium Street and Fern Place, one block from the old Walter Reed Hospital now The Parks at Historic Walter Reed.
  • In City Limits YNYes
  • StateDC
  • SubdivisionBrightwood
  • TownWashington
  • Zip20012

Interior

  • FlooringLuxury Vinyl Plank, Wood

Amenities

  • Other AmenitiesBasement

Other

  • Cap Rate6
  • Gross Income97733
  • Gross Scheduled Income79733
  • Operating Expense IncludesAdvertising, Cable TV, Electric, Heating/Cooling, Insurance, Management Fees, Pest Control, Repair/Maintenance, Trash, Water, Sewer
  • Soil TypesUnknown
  • Vacancy Allowance Rate4
  • View Count5

Basic Information

  • Broker NameLong & Foster Real Estate, Inc.
  • List Price$1,300,000
  • LocationTypeBusiness Park
  • MLS NumberDCDC2093162
  • MLS Property TypeCommercial Sale
  • Price Per Square Foot587
  • Security FeaturesMain Entrance Lock, Smoke Detector, Electric Alarm, Carbon Monoxide Detector(s)
  • StatusACT
  • Units1

Property

  • Acreage0.04
  • Business TypeHair Salon and Spa, Professional, Religious Facility, Restaurant/Bar, Health Club, Apartment Building
  • Lot Size SourceAssessor
  • Lot Size Square Feet1,571
  • New Construction YNN
  • Property ConditionExcellent
  • Property SubTypeMixed Use
  • ZoningMU-4

Tax Information

  • Assessment Year2023
  • City Town Tax$8,831
  • City Town Tax Payment FrequencyAnnually
  • Tax Assessment Amount$535,210
  • Tax Lot27
  • Tax Year2023
  • Taxes$8,831
  • Total Taxes Payment FrequencyAnnually

Building

  • Building Area SourceAssessor
  • Building Area Total2213
  • Construction MaterialsBrick
  • Entry Level2
  • Stories2
  • Total Garage And Parking Spaces1
  • Total Restrooms2
  • Year Built1927

Utilities

  • Central Air YNYes
  • CoolingCentral A/C, Ceiling Fan(s)
  • Cooling FuelElectric
  • Heat System90% Forced Air
  • Heating FuelNatural Gas
  • Heating YNYes
  • SewerPublic Sewer
  • UtilitiesCable TV, Electric Available, Natural Gas Available, Phone Available, Water Available
  • Water HeaterNatural Gas
  • Water SourcePublic

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Copyright 2024 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Yeonas & Shafran Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated June 13, 2024. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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