2009 N Street

Midtown

2009 N Street

Region: Midtown
Use: Multifamily / Retail / Office
Lease or Sale: Sale
Building Size: ±5,900 SF
Sale Price: $1,600,000

Turton Commercial Real Estate, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in 2009 N Street (the “Subject Property”). The offering consists of two fully leased buildings situated on .15 acres of land in midtown; a 3,700 square foot, three story residential building (“original structure”) and a 2,200 square foot repurposed shipping container restaurant and beer hall known as The Federalist Public House (“FPH”). Both structures are being leased by FPH under one agreement commencing on December 1, 2020 and expiring November 30, 2025, with one (1) five-year option to extend at 100% Fair Market Value. The Subject Property is being offered for sale at $1,600,000, representing a 6% capitalization rate.

The original structure was built in 1907 and has housed a variety of office and residential uses since its construction over a century ago. The 3,700 square feet is exclusive of an approximate 800 square foot basement that is currently used as storage. The first-floor residential unit was recently upgraded and features two bedrooms and one bath, while the third floor is a studio unit with gallery kitchen and full bathroom. All three units boast elegant hardwood floors, updated kitchens, airy dining and living rooms and abundant natural light. One cannot help but appreciate the perfect balance between the charming character and touches of modern, contemporary flair after stepping into the spaces.

The Federalist Public House is a unique shipping  container restaurant and beer hall located in the backyard of the original structure, with direct access to Matsui Alley between Capitol ave and N Street on 20th. The FPH was built in 2014 and features an outdoor pizza oven, walk-in freezer, tap room, prep kitchen and two ADA compliant restrooms. Other finishes include cooling fans, misters, and heat lamps for variable climate conditions. FPH has occupied the shipping container restaurant since January 2014.

 

You might also like: