2009 N Street
2009 N Street
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 January 31, 2026. 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 measures approximately 1,650 square feet and features three bedrooms, one bathroom, a large kitchen, and two living spaces. The second unit encompasses both the second and third floors measuring approximately 2,050 square feet. This unit includes three bedrooms and two bathrooms, as well as a 500 square foot “bonus” room with bathroom on the third floor that can be used as a fourth bedroom or home office. Both 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.
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Use: Retail / Office / Restaurant
Lease or Sales: Lease
Leasable SF: 1,035 - 7,143 SF
Lease Rate: $1.50 - 3.25 SF/Month
Lot Size: 2.56 acres
Lease or Sales: Lease & Sale
Sale Price: $17,000,000