Herndon, VA – Calkain‘s Urban Investment Advisors team of Rick Fernandez and Andrew Fallon recently completed the sale of 749 8th Street, SE located in the Barracks Row area of the Capitol Hill neighborhood just north of the Navy Yard in Washington, DC. The 100% leased, 2,244 square foot, 2-story property is anchored by District Doughnut, a specialty doughnut shop, and the Skin Beauty Bar which offers luxury spa services. Calkain represented the seller in the transaction and the property sold for $1,850,000.00 or $824 per square foot.
Fallon commented, “The property is well-located along 8th Street (Barracks Row), known for destination retail and eateries. Capitol Hill is one of the most sought-after DC neighborhoods, both in terms of residential and commercial stability, and opportunities like this one are rare due to the limited asset sales.” Calkain has sold similar assets from Georgetown to Shaw, and is feeling an uptick in demand for assets along the developing corridors and transitioning neighborhoods across the city.
The team’s newest urban retail listing 1539 7th Street, NW is leased to long-time DC hot spot, The Passenger, and offers a rare opportunity to acquire 3,000+ SF of prime, centrally located real estate within one of Washington, DC’s most rapidly redeveloping neighborhoods. 1539 7th is a short walk to two Metro stops and City Market at O featuring frontage on 7th Street, providing highly visible space in the future heart of the Shaw retail and residential district. Fernandez, stated, “Retail in DC has been expanding to new corridors where rent growth and appreciation attract new investors. The asset provides investors with an opportunity to own street front retail with little to no landlord responsibilities and long-term ability to drive income through rent growth as the market matures.”
Calkain Companies is a commercial real estate brokerage firm specializing in assisting buyers and sellers of single and multi-tenant net-leased properties. Calkain works with developers, buyers, sellers and real estate professionals to deliver a global buying audience to a highly sought after, client focused platform that covers all aspects of the transaction including advisory, brokerage, capital markets, asset management and research. Additional information about the firm and listings may be found at www.calkain.com.