Views
Address
7305 Georgia Avenue NW, Washington, DC
Price
$ 1,300,000
Property Attributes
- MLS#DCDC2093162
- TypeCommercial
- CountyWASHINGTON
- CityWashington
- NeighborhoodBrightwood
- Zip20012
- StyleHair Salon and Spa,Professional,Religious Facility
- Year Built1927
- Taxes$ 8690
- Price$ 1,300,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage2213
- Lot Size1,742 SqFt
Data Source:
Bright MLS
Property Description
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.
| Price History | |
|---|---|
| 5/29/2023 | Listed $1,500,000 |
| 7/26/2023 | 7% - $1,400,000 |
| 1/2/2024 | 8% - $1,300,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | 90% Forced Air |
| Cooling | Central A/C,Ceiling Fan(s) |
| Utilities | Cable TV,Electric Available,Natural Gas Available,Phone Available,Water Available |
| Possession | Settlement,Subject to Existing Lease |
| Zoning | MU-4 |
| Security Features | Main Entrance Lock,Smoke Detector,Electric Alarm,Carbon Monoxide Detector(s) |
| Construction Materials | Brick |
| Year Built | 1927 |
| View | City,Street |
| Property SubType | Mixed Use |
| Tax Year | 2022 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Gross Income | 97733.00 |
| OwnerPays | Accounting/Legal,Advertising/Licenses and Permits,Common Area Maintenance,Insurance,Management,Pest Control,Repairs,Taxes - Real Estate,Taxes - Personal property,Water |
| Business Type | Hair Salon and Spa,Professional,Religious Facility,Restaurant/Bar,Health Club,Apartment Building |
| Accessibility | None |
| County | WASHINGTON |
| Net Operating Income | 70498.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | BRIGHTWOOD |
| Possible Use | Barber/Beauty,Apartments,Clothing,Commercial,Dry Cleaner,Food & Beverage,Investment,Medical/Dental,Mixed Use,Office,Professional Service,Restaurant,Retail,Spa |
| Water Access Y/N | No |
| Property Use | Investment |
| Transportation | Bus Stop less than 1 mile,Metro/Subway Station 1 to 3 miles |
| Status | ACTIVE |
| Directions | Between Geranium Street and Fern Place,one block from the old Walter Reed Hospital now The Parks at Historic Walter Reed. |
| ModificationTimestamp | 2024-01-18T01:18:07 |
| City | WASHINGTON |
| Buyer Agent Compensation | 3 |
| Disclosures | Lead Based Paint - Federal,Lead Based Paint - State,Prop Disclosure,Use and Occupancy Permit |
| Total Units | 1 |
| Lot Size Square Feet | 1571.00 |
| Tax Assessed Value | 535210.0 |
| Waterfront Y/N | No |
| Street Name | GEORGIA |
| Tax Annual Amount | 8690.0 |
| Property Condition | Excellent |
| Price Per Sq Ft | 587.44 |
| Acceptable Financing | Cash,Conventional,Private |
| Historic Y/N | No |
| Lease Considered Y/N | No |
| Vacation Rental Y/N | No |
| Days on Market | 121 |
| Location Type | Business Park |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | Brightwood |
| Tax Lot | 27 |
| Total Actual Rent | 30000.00 |
| Cap Rate | 6.00 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Flooring | Luxury Vinyl Plank,Wood |
| Hot Water | Natural Gas |
| Total Stories | 2 |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | Yes |
| Total Restrooms | 2 |
| Entry Level | 2 |
Exterior Features
| Parking Features | Private |
|---|---|
| Water Source | Public |
| Inclusions | All salon fixtures |
| Total Parking Spaces | 1 |
| Type of Parking | Driveway |
| Water View Y/N | No |
| Building Area Total | 2213.00 |
| Lot Size Acres | 0.04 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Soil Types | Unknown |
| Land Assessed Value | 241230.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| Fencing Y/N | No |
| Car Parking Spaces | 1 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 20012
Price
Taxes
Visits
Year Built
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