offering summary - loopnet · little miss whiskey’s golden dollar the haymaker bar ben’s chili...
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© 2018 Greysteel
1635 Holbrook1635 Holbrook Street, NE | Washington, D.C.
OFFERING SUMMARY
Investment Summary
Year Built 1952
Units 4
Construction Brick Façade
Zoning RF-1
Total Rentable SF 2,400 SF
Average Unit Size 600 SF
Occupancy (8/1/2018) 25.0%
Average Market Rent $1,600
Average Rent Roll Rent $450
Unit Type No. of Units Rentable SFTotal
Rentable SFEffective Rent/Unit
Effective Rent/SF
Total Effective
Rent
Market Rent/Unit
Market Rent/SF
Total Market Rent
PotentialOne Bedrooms - Occupied 1 600 600 $450 $0.75 $450 $1,600 $2.67 $1,600One Bedrooms - Vacant 1 600 600 - - - $1,600 $2.67 $1,600Units Demo'd 2 600 1,200 - - - - - -Totals / Wtd. Averages 4 600 2,400 $113 $0.19 $450 $800 $1.33 $3,200
Unit Mix Summary
$450
-
$1,600 $1,600
-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
One Bedrooms -Occupied
One Bedrooms - Vacant
Effective Rent/Unit Market Rent/Unit
One Bedrooms - Occupied25%
One Bedrooms - Vacant25%
Units Demo'd50%
UNIT MIX SUMMARY
Unit Type No. of Units
Average Rentable SF
Effective Rent/Unit
Market Rent/Unit
1 BDR- Occupied 1 600 $450 $1,600
1 BDR- Vacant 1 600 - $1,600
United Demo’d 2 600 - -
Totals/Wtd. Averages
4 872 $1,433 $800
© 2018 Greysteel
AREA MAP
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10
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1635 HOLBROOK
395
50
1
N. CA
PITOL STREET N
W
E. CAPITOL STREET SE
FLORIDA AVENUE NE
65 11
1213
BENNING ROAD NEH STREET/BENNING ROAD STREETCAR
SHOPPING & RESTAURANTS 10 Eastern Market (1.6 Miles)11 H Street Retail Corridor (0.9 Miles)
12 Hechinger Mall (0.4 Miles)
13 The Apollo & Whole Foods Market (1.0 Mile)
14 The Hecht Warehouse at Ivy City (0.6 Miles)
15 Union Market (0.9 Miles)
TRANSIT 16 NoMa-Gallaudet U Station (1.2 Miles)
17 Union Station (1.6 Miles)
DEVELOPMENTS1 Hill East Development (1.6 Miles)
2 NewCityDC (0.8 Miles)
EDUCATION3 Gallaudet University (0.6 Miles)
HEALTH SERVICES4 BridgePoint Hospital Capitol Hill (1.2 Miles)
5 Kaiser Permanente (1.3 Miles)
PARKS & RECREATION6 Atlas Performing Arts Center (0.6 Miles)
7 RFK Stadium (1.3 Miles)
8 United States Capitol (1.9 Miles)
9 United States National Arboretum (0.9 Miles)
© 2018 Greysteel
1635 HOLBROOK
17TH STREET, NE
BENN
ING
ROAD
, NE
BLADENSBURG ROAD, NE
FLORID
A AVE
NUE,
NE
TRINIDAD RECREATION CENTER
KIPP DC WEBB
FLATS AT ATLAS
HECHINGER MALL
H STREET CORRIDOR
THE PURSUIT WINE BARTONY’S PLACEBAB KOREAN FUSIONCROSSFIT DC NORTHEASTTURNING NATURALROSES DEJAVUAVERY’S BAR & LOUNGEIMPALA CANTINA Y TAQUERIABIERGARTEN HAUSROCK & ROLL HOTELMAKETTOREDROCKS H STREETDANGEROUSLY DELICIOUS PIESHILL PRINCEATLAS PERFORMING ARTS CENTERSTABLE DCSHAWAFELSALLY’S MIDDLE NAMETHE ESCAPE LOUNGE ON H STREET
SOL MEXICAN GRILLSMITH COMMONSON THE ROCKSDC DINERGRANVILLE MOORE’STOKI UNDERGROUNDTHE CHIC SHACKSTICKY RICESINGSING KARAOKE PALACETHE QUEEN VICNOMADHORACE & DICKIE’S SEAFOODCUSBAHTOUCHE SUPPER CLUBCOPYCAT COLITTLE MISS WHISKEY’S GOLDEN DOLLARTHE HAYMAKER BARBEN’S CHILI BOWL
CHINA WOKSCOTT’S BEAUTY & BARBER SUPPLYSPORTS ZONE ELITE
MODERN NAILSFASHION SCENTS
LOCAL MAP
GALLAUDET UNIVERSITY
1701 H STREET DEVELOPMENT SITE
NEWCITYDC
DOUGLAS DEVELOPMENT H STREET SITE
1151 BLADENSBURG DOUGLAS DEVELOPMENT SITE
MARYLAND AVENUE, NE
H ST
REET
, NE
U.S. CAPITOL
© 2018 Greysteel
SALES: FINANCE:W. KYLE TANGNEY HERBERT SCHWAT JAKE RUPPERT Managing [email protected]
Sr. Investment [email protected]
Finance [email protected]
For more information or to inquire about Greysteel, please contact Ari Firoozabadi, President & CEO ([email protected] | 202.417.3873)
Greysteel, seller, and their respective representatives make no representations or warranties, express or implied, regarding the accuracy or completeness of the information in this Offering Summary. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This offering is subject to prior placement, withdrawal, cancellation or modification without notice. All references to acreage, square footage, and other measurements are approximations and must be independently verified.
7735 Old Georgetown Road • Suite 301 • Bethesda, MD 20814 202.280.2722 • www.greysteel.com
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Flexible Value-Add Opportunity With three of four units vacant, and two units completely demo’d, new ownership will have the opportunity to add value in a variety of manners, including i) increasing unit’s bedroom count; and ii) upgrading via renovations and incrementally increasing rents.
Surrounded by Major DevelopmentsThe Property is surrounded by some of Washington, D.C.’s largest mixed-use developments. Union Market promises to deliver the amenities necessary to serve 4,500 new units. Douglas Development’s NewCityDC will deliver a city-center style mixed-use community with over 200,000 retail square feet and 100,000 office square feet.
Continued Maturation of H StreetH Street continues to pace the NE D.C. market with several newly delivered projects highlighted by Whole Foods at The Apollo. Just a few blocks from 1635 Holbrook, H St. offers residents of the neighborhood abundant dining and nightlife attractions.