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10-Unit Shovel-Ready Development Site 1919 Benning Rd NE 11,216 sq ft 100% Let Retail Property Washington, DC 20002 £651,709 (£58.11/sq ft)
INVESTMENT HIGHLIGHTS
- Truly Shovel-Ready 10-Unit Multifamily Development Project | Conveys with Building Permit
- No IZ Units Required Allowing for Maximum Outsale or Rental Proceeds
- 3,043 Multifamily Units and 88,600 Square Feet of Retail Either Proposed or Under Construction in a 1-Mile Radius
- All 2-Bedroom Units with Outdoor Spaces | Amenities Include On-Site Parking
- Conveniently Located within One Block of Multiple Metrobus & DC Streetcar Stops
EXECUTIVE SUMMARY
Feldman Ruel is pleased to present 1919 Benning Road NE, a fully-permitted development site located in the burgeoning Kingman Park neighborhood of Washington, D.C. This 10-unit development site is a truly shovel-ready project that allows a buyer to break ground immediately after closing, thereby mitigating carrying costs and avoiding the Washington, D.C. notoriously cumbersome entitlement process.
1919 Benning Road NE represents a unique opportunity for a developer to acquire a truly shovel-ready project. At closing, ownership will convey to the purchaser all necessary approvals and permits to build ten condominium or rental units thereby eliminating entitlement risk and significantly reducing carrying costs.
1919 Benning Road NE represents a unique opportunity for a developer to acquire a truly shovel-ready project. At closing, ownership will convey to the purchaser all necessary approvals and permits to build ten condominium or rental units thereby eliminating entitlement risk and significantly reducing carrying costs.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Shopfront Retail / Residential
Property Size
11,216 sq ft
Costar Property Class
C
Year Built
1925
Price
£651,709
Price per sq ft
£58.11
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Plot ratio
5.19
Total Plot Size
0.05 ac
Use Class
MU-5A - permit moderate-density mixed-use development at a limited height and with an emphasis on housing
Frontage
21 ft on Benning Rd
AMENITIES
- Air Conditioning
Walk Score®
Easily Walkable (89)
Bike Score®
Ideal For Cyclists (91)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 4514-0810 | Improvements Assessment | £322,465 |
| Land Assessment | £289,773 | Total Assessment | £612,238 |
PROPERTY TAXES
Parcel Number
4514-0810
Land Assessment
£289,773
Improvements Assessment
£322,465
Total Assessment
£612,238
CONTACTS
-
Josh Feldman -
Ian Ruel -
Adam Costanzo -
Feldman Ruel Urban Property Advisors, LLC
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10-Unit Shovel-Ready Development Site | 1919 Benning Rd NE
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