Property

Washington, DC 20012 7305 Georgia Avenue NW

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Presented By: Long & Foster Real Estate, Inc.
  • MLS# DCDC2093162
  • 05/28/2023
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  • SQFT • 2,213

Home Details

PRICE ADJUSTMENT! Established, modern 2-level multi-use building located in a prime business location with booming development all around. Prominently situated within walking distance to the all-new multi-phase development; The Parks at Historic Walter Reed with a new Whole Foods Market. The Parks is a major, one billion dollar project in development. Strong potential for increased foot traffic and values as part of the vibrant and progressing Brightwood neighborhood. This turn-key property is subject to one residential lease ending 2/29/2024. The retail space is vacant. The updated storefront unit is built out into a hair salon that originally opened in 1999 and remodeled in 2012. It features a large open space with LVP flooring, modern lighting, 6 stylist stations, an esthetician station, 3 shampoo stations and multiple hair drying stations, a half bath, and a staff lounge/storage area. The upper level offers a fully remodeled open floor plan unit with 2 bedrooms, Den, 1 full bath, an attractive open kitchen with stainless steel appliances (two ovens), granite countertops, large center island with granite, hardwood floors, stacked washer and dryer, trendy metal stair railing urban charm! The exterior offers a large private deck, 1 parking space in the rear of the building and ample street parking. There is also a basement area where the utilities are housed. Units are separately metered. This offering is a rare opportunity to acquire a self-sufficient real estate investment with strong property management. Are you a seasoned stylist or barber and ready to step into your destiny of salon ownership do not miss this fantastic opportunity! Become an owner occupier, live upstairs and work while running your salon or other business downstairs. Property being sold AS-IS. Weekend showings require 24 hours notice. All showings by appointment.
Presented By: Long & Foster Real Estate, Inc.

Interior Features for 7305 Georgia Avenue NW

Bathrooms

Total Restrooms2

Other Interior Features

Central Air Y/NYes
FlooringLuxury Vinyl Plank, Wood
Heating FuelNatural Gas
Heating Y/NYes
Hot WaterNatural Gas
Number of Elevators
Total Stories2

Other Rooms

Entry Level2

General for 7305 Georgia Avenue NW

Acceptable FinancingCash, Conventional, Private
AccessibilityNone
Business TypeHair Salon and Spa, Professional, Religious Facility, Restaurant/Bar, Health Club, Apartment Building
Cap Rate6.00
CityWASHINGTON
Construction MaterialsBrick
Cool FuelElectric
CoolingCentral A/C, Ceiling Fan(s)
CountyWASHINGTON
Days on Market493
DirectionsBetween Geranium Street and Fern Place, one block from the old Walter Reed Hospital now The Parks at Historic Walter Reed.
DisclosuresLead Based Paint - Federal, Lead Based Paint - State, Prop Disclosure, Use and Occupancy Permit
Gross Income97733.00
Heating90% Forced Air
Historic Y/NNo
Lease Considered Y/NNo
Legal SubdivisionBrightwood
Location TypeBusiness Park
Lot Size Square Feet1571.00
Lot Size UnitsSquare Feet
ModificationTimestamp2024-08-14T06:12:55
Net Operating Income70498.00
New ConstructionNo
NumberOfUnitsTotal1
OwnerPaysAccounting/Legal, Advertising/Licenses and Permits, Common Area Maintenance, Insurance, Management, Pest Control, Repairs, Taxes - Real Estate, Taxes - Personal property, Water
Percent OwnershipFee Simple
PossessionSettlement, Subject to Existing Lease
Possible UseBarber/Beauty, Apartments, Clothing, Commercial, Dry Cleaner, Food & Beverage, Investment, Medical/Dental, Mixed Use, Office, Professional Service, Restaurant, Retail, Spa
Price Per Sq Ft Total AG587.44
Property ConditionExcellent
Property SubTypeMixed Use
Property TypeCommercial Sale
Property UseInvestment
Security FeaturesMain Entrance Lock, Smoke Detector, Electric Alarm, Carbon Monoxide Detector(s)
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Subdivision NameBRIGHTWOOD
Tax Annual Amount8831.0
Tax Assessed Value535210.0
Tax Lot27
Tax Year2023
Total Actual Rent30000.00
TransportationBus Stop less than 1 mile, Metro/Subway Station 1 to 3 miles
UtilitiesCable TV, Electric Available, Natural Gas Available, Phone Available, Water Available
Vacation Rental Y/NNo
ViewCity, Street
Water Access Y/NNo
Waterfront Y/NNo
Year Built1927
Year Built SourceAssessor
ZoningMU-4

Exterior for 7305 Georgia Avenue NW

Building Area Total2213.00
Car Parking Spaces1
Fencing Y/NN
InclusionsAll salon fixtures
Land Assessed Value241230.00
Land Use Code
Lot Size Acres0.04
Lot Size SourceAssessor
Navigable Water Y/NNo
Parking FeaturesPrivate
Soil TypesUnknown
Total Loading Docks0
Total Parking Spaces1
Type of ParkingDriveway
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Tina Torres

Broker/Owner
Price $1,300,000
MLS#DCDC2093162
List Date 05/28/2023
Property Type Commercial
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