1818 New York Ave NE

• 96% leased to 49 tenants
• $1,600,000 of in-place NOI
• 3.13 Acres of PDR-2 zoned land (4.5 FAR)
• Highly visible last mile location with 700 feet of New York Avenue (Route 50) Frontage
• Situated in the heart of the New York Avenue Corridor with adjacency to Douglas Development’s 16-acre New City, Union Market, and Ivy City

Property Description

Avison Young’s U.S. Capital Markets Group, as exclusive advisor to the Owner, is pleased to present the opportunity to acquire 1818 New York Avenue NE (“the Property”), a 3.13 acre covered land play with 700 feet of high visibility frontage along New York Avenue (Route 50). The Property was fully renovated in 2005 but has been improved with $665,000 of capital investment since 1Q 2020. The existing brick construction building includes 75,869 sf of net rentable square feet. Currently, the Property is 96% leased to 49 tenants, with 1.5 years weighted average lease term. 1818 New York’s current use attracts office and retail tenants, which includes government contractors, a day care, a leading healthcare service tenant. In total, the Property has more than 144 lined parking spaces. The in-place leases contain landlord-friendly termination options for development. The site is zoned PDR-2 and can be developed with a maximum FAR of 4.5 times the lot area (136,675 sf) under the existing zoning regulations. The comprehensive plan designation for the subject property was recently changed from PDR (Production Distribution and Repair) to a mixed-use designation of high density commercial, high density residential and PDR.