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Douglas Development Sells Vacant Restaurant Property In Washington DC For $3.125M
SOLD
$3,125,000
Retail7,500 SF
Sold 01/16/2025
SOLD
Douglas Development Sells Vacant Restaurant Property In Washington DC For $3.125M
717 6th Street Northwest
See Similar DealsRetail7,500 SF
Sold 01/16/2025
Summary
Asset Type:Retail
Price Per Square Foot:$416
Total Square Footage:7,500 SF
Transaction Type:Sale
A vacant restaurant property located at 717 6th Street Northwest in Washington, DC, has been sold for $3,125,000. The asset spans 7,500 square feet and consists of three stories, featuring a rooftop deck and is situated near Capital One Arena.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,125,000
- Seller: Douglas Development
- Square Footage: 7,500
- Price Per Square Foot: $417
This transaction involved Douglas Development as the seller, confirming their engagement in the property market through the sale of a retail asset in a prime location.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$166,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,102.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,814.09
Annual Debt Service$177,769.13
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