MR 1401 15th Street Retail LLC Acquires Church In Washington DC For $3.25M
1401 15th Street Northwest & 1405 15th Street Northwest
$3,250,000
$108/SF
Building Size
15,000 SF
Asset Type
Church
Closing
Apr 7, 2025
About this deal
AI
A 15,000-square-foot church and parish house located at 1401-1405 15th Street Northwest, Washington, DC, has been sold for $3,250,000. The transaction was executed in a competitive market environment, indicating a notable interest in the property for potential redevelopment opportunities.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $3,250,000
- Square Footage: 15,000
- Address: 1401-1405 15th Street Northwest
- Market: Washington, DC
- Buyer: MR 1401 15th Street Retail LLC
- Seller: Central Atlantic Conference of the United Church of Christ
- Buyer’s Representative: Danny Brooker & Rich Sillery - Monument Realty
- Seller’s Representative: Benjamin Wilson & Ian Weisz - Greysteel
- Price Per Square Foot: $217
The sale was facilitated by the respective representatives from Monument Realty and Greysteel. Greysteel represented the seller, showcasing the property to a multitude of competitive offers, emphasizing its market appeal for diverse retail uses.
Players
Washington Church Market Snapshot
Boundary boundary · Church · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93