Adams Investment Group Purchases Mixed-Use Building From Douglas Development Corp For $12 Million
2715 M Street Northwest
$12,000,000
$413/SF
Building Size
29,000 SF
Asset Type
Mixed-use
Closing
Aug 24, 2026
About this deal
AI
The property involved in this transaction is a mixed-use building located at 2715 M Street Northwest in Washington, DC. The building has a total space of 29,000 square feet and was sold for a transaction amount of $12,000,000, equating to a price per square foot of $414.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Sale Date: 08/24/2026
- Buyer: Adams Investment Group
- Seller: Douglas Development Corp.
- Broker: Robert (Bobby) Meehling - Berkadia
The deal involved the sale from Douglas Development Corp. to Adams Investment Group, with plans in place to convert the property into luxury residences following the acquisition.
Players
Washington Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93