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Vacant Multifamily Redevelopment Opportunity 1201 L St NW 36,000 sq ft Vacant Office Property Online Auction Sale Washington, DC 20005
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Ideal for redevelopment near Washington, DC’s National Mall, this turnkey office is approved for 149 apartments.
- Surrounded by an abundance of grocery, parks, and entertainment such as Whole Foods, Franklin Park, and Capitol One Arena.
- **Financing Contingency Available for Qualified Buyers Only** | Reach out to the Sales Engineer below for more details.
- Well-connected location with nearby public transit, bus service, and access to key routes around DC.
- Offering premier demographics with average household incomes in a 1-mile radius exceeding $147,000 annually.
EXECUTIVE SUMMARY
Investors and developers will take note of this premier asset in Washington, DC, near the National Mall and all the city has to offer.
1201 L Street NW is a vacant, turnkey office building presenting a rare and compelling investment opportunity in the heart of Washington, DC. Located just steps from the city's key corridors and amenities, the four-story property spans approximately 36,000 square feet on a 0.23-acre lot and features expansive floor plates suited for redevelopment or adaptive reuse. The asset comes with existing approvals in place for a 149-unit apartment community, offering developers a head start on transforming the site into a high-density residential project. Investors and builders alike will find value in the property’s versatility and strong zoning. Positioned within the D-4-R district, the site benefits from broad by-right uses including residential, office, and mixed-use development. The D-4-R zone is intended to promote vibrant, high-density neighborhoods that seamlessly integrate living, working, and commercial activity. This makes this property a strategic fit for a range of forward-thinking buyers seeking long-term growth in one of the city’s most dynamic areas.
This central location offers broad appeal for Washington residents looking for their next rental. Surrounded by established neighborhoods such as Capitol Hill and Penn Quarter, the property is within close reach of the city’s most iconic landmarks, including the White House, the Smithsonian museums, and the Lincoln and Jefferson memorials. Its proximity to downtown adds convenience and value, placing residents near employment centers, cultural institutions, and government offices. The site also offers strong connectivity, with access to public transit and major roads that link directly to the region’s highway network.
Property tours are available by appointment only. Please contact the listing broker to schedule.
1201 L Street NW is a vacant, turnkey office building presenting a rare and compelling investment opportunity in the heart of Washington, DC. Located just steps from the city's key corridors and amenities, the four-story property spans approximately 36,000 square feet on a 0.23-acre lot and features expansive floor plates suited for redevelopment or adaptive reuse. The asset comes with existing approvals in place for a 149-unit apartment community, offering developers a head start on transforming the site into a high-density residential project. Investors and builders alike will find value in the property’s versatility and strong zoning. Positioned within the D-4-R district, the site benefits from broad by-right uses including residential, office, and mixed-use development. The D-4-R zone is intended to promote vibrant, high-density neighborhoods that seamlessly integrate living, working, and commercial activity. This makes this property a strategic fit for a range of forward-thinking buyers seeking long-term growth in one of the city’s most dynamic areas.
This central location offers broad appeal for Washington residents looking for their next rental. Surrounded by established neighborhoods such as Capitol Hill and Penn Quarter, the property is within close reach of the city’s most iconic landmarks, including the White House, the Smithsonian museums, and the Lincoln and Jefferson memorials. Its proximity to downtown adds convenience and value, placing residents near employment centers, cultural institutions, and government offices. The site also offers strong connectivity, with access to public transit and major roads that link directly to the region’s highway network.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOUR
Fourth-Floor Office Space Matterport Tour
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Investigations
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Size
36,000 sq ft
Costar Property Class
B
Year Built
1988
Occupancy Rate
Vacant
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
9,000 sq ft
Plot ratio
3.65
Total Plot Size
0.23 ac
Parcel Number
0283-0048
Use Class
D-4-R - Permits high-density mixed use development with an emphasis on residential uses.
Parking
20 Spaces (0.55 Spaces per 1,000 sq ft Leased)
AMENITIES
- Conferencing Facility
- Property Manager on Site
- High Ceilings
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Walk Score®
Excellent pedestrian access (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Ideal For Cyclists (95)
ABOUT EAST END
Over the years, Washington, D.C.'s, East End has transformed itself into the main hub of the U.S. capital's entertainment and retail businesses. This section of the city encompasses the central part of the District and spans to the eastern reaches of K Street and Pennsylvania Avenue. One of the region's premier concert and sports venues, the East End is home to Capital One Arena, where both the NBA's Washington Wizards and the NHL's Washington Capitals play. The area houses two of the Metro transit system's three major transfer hubs: the Gallery Place-Chinatown and Metro Center stops, which connect commuters to every Metro line in the region.
As the economic engine of the city, the East End has over 55 million square feet of office space and counting. It houses several diverse, international companies, including CoStar, Fannie Mae, and a long list of law firms and federal government agencies. The area's desirable location and high-quality office assets collectively command some of the highest asking rents in the region.
The East End's office stock has also seen an abundance of change over time and includes some of the most high-profile new developments in the Washington area. Notable projects include the 400,000-square-foot office project known as 600 Fifth, which is a redevelopment of the former headquarters location of the Washington Metropolitan Area Transit Authority.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
60,811
371,262
765,436
2020 Population
65,311
380,999
800,132
2029 Population
55,288
342,544
712,733
2024-2029 Projected Population Growth
-9.1%
-7.7%
-6.9%
Daytime Employees
282,630
594,749
770,937
Total Businesses
20,140
47,097
66,166
Average Household Income
$147,300
$142,766
$134,530
Median Household Income
$118,820
$111,650
$101,985
Total Consumer Spending
$1.2B
$6.3B
$11.8B
Median Age
35.6
35.2
36.0
2024 Households
35,774
189,825
360,151
Percent College Degree or Above
31%
29%
27%
Average Home Value
$724,524
$763,586
$734,902
$ values in USD
SALE ADVISORS
SALE ADVISORS
John Sheridan, Senior Vice President
John Sheridan joined CBRE, Inc. in 2003 as the result of a merger with Insignia/ESG. Mr. Sheridan is currently a Senior Vice President with the Mid-Atlantic Multifamily Investment Properties Team. Mr. Sheridan specializes in residential land transactions for both rental and for-sale products, including high-rise concrete, infill projects and high density wood-frame construction to master planned communities of townhomes and single-family residences. Mr. Sheridan has also been involved with several office to residential building conversions. His experience in construction and project management has provided a solid background and understanding of development concepts. With over 30 years of experience in the commercial real estate industry, Mr. Sheridan has worked many jurisdictions from as far north as Aberdeen, MD, to as far south as Fredericksburg, VA.
Charlie Mangold, Associate
Charles “Charlie” Mangold joined CBRE in February of 2022 as a member of the Mid-Atlantic Multifamily Investment Properties Team. Alongside John Sheridan, Charlie is responsible for the execution of residential development site sales throughout the Washington-Baltimore Metropolitan Area. Projects include apartment, condominium, townhome, single-family, and master-planned communities. He plays an integral role in the origination, underwriting, marketing, and sale of such assignments. His experience yields knowledge of construction strategies such as infill development, tear down redevelopment, and adaptive re-use. A Washington, DC resident, Charlie has a strong understanding of the neighborhoods and communities within the city limits and surrounding suburban areas. He is familiar with the entitlement and rezoning processes of various jurisdictions throughout the Mid-Atlantic region. His broad network of local industry professionals allows him to stay apprised of valuation metrics and active market participants. In 2021, Charlie graduated from Virginia Tech Pamplin College of Business with a Bachelor of Science in Real Estate. He is currently a candidate at Georgetown’s Master’s in Real Estate program with a concentration in real estate development. He holds real estate salesperson’s licenses in the District of Columbia, Maryland, and Virginia.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology driving commercial property deals online. With over $34 billion in total transactions, these auctions utilise best-in-class technology and real-time asset intelligence to give listings the best chance of reaching the ideal buyer. The accelerated auction timeline, thorough due diligence, and buyer qualification make transactions twice as fast and twice as reliable for agents, owners, and investors.
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AUCTION CONTACT
Casey Harrell
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr BR40000233
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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