Current Investment Opportunity

1507 Rhode Island Avenue

The property under consideration is located at 1507 Rhode Island Avenue NE in the Woodbridge neighborhood. Rhode Island Avenue is a major commuter route and Woodbridge is an up and coming neighborhood. The site is a little over half a mile from the New York Avenue Metro Station and next to a new Rite Aid. The Property is a 1,600 square foot one story commercial building that is owner occupied and will be delivered vacant. The asking price is $500,000.  That price is equal to $312.50 per square foot. We expect to make minimal capital improvements to lease the property.    The Property is strategically positioned along the Rhode Island Avenue commercial neighborhood. There are a variety of commercial tenants along the corridor. The residential base in the neighborhood is stable and growing. The Property’s immediate neighborhood is dominated by residential buildings. The residential base is growing so we see appreciation in rental values over the coming years, which will result in appreciation of property values.   Acquisition and Project Cost. The Purchase Agreement for the Property is not yet executed so we have not yet conducted a due diligence review of the Property. We will move forward on the agreement once we have commitments for at least half of the equity required. The Managing Member does not expect major renovations but there will be minor cosmetic work in addition to cleaning and brokerage commissions.       The Local Market. The Woodbridge neighborhood has seen steady appreciation over the recent years. This pattern is expected to continue as areas east of the New York Metro continues to gentrify. Residential and commercial rents are expected to rise as pricing in the neighborhood is lower than other parts of Washington, resulting in anticipated rapid appreciation of the property. The convenience to downtown and amenities also attract local residents.   The Tenants. The Property will be delivered vacant. We expect the location to be attractive to a variety of potential neighborhood type retail tenants or possibly a restaurant.  
 

Alternate Investment Opportunity

Detail your services

   An alternate property under consideration is located at 3109 Georgia Avenue NW in the Petworth neighborhood. Georgia Avenue is a major commuter route in and out of Washington and Petworth is an up and coming neighborhood. The site is about half a mile from the Columbia Heights Metro Station and about three quarters of a mile from the Petworth station. The Property is a 4,200 square foot three story commercial building that is owner occupied and will be delivered vacant. The asking price is $1,300,000. That price is equal to $309.50 per square foot. The first floor is retail, the second floor could be retail or office, and the third floor is office. The property is currently divided so it can be leased to three separate tenants immediately. The second and third floors are in excellent condition. The first floor may need a little work depending on who the tenant is.      
   The Property is strategically positioned at the southern end of Petworth and on the east edge of Columbia Heights. There are a variety of retail, medical and commercial tenants nearby. The residential base in the neighborhood is seeing an influx of young professionals and millennials. The Property’s immediate neighborhood is dominated by residential buildings and street level retail. The residential base is growing so we see appreciation in rental values over the coming years, which will result in appreciation of property values.   Acquisition and Project Cost. The Purchase Agreement for the Property is not yet executed so we have not yet conducted a due diligence review of the Property. Our plan is to first make an offer on Rhode Island Avenue, but we expect a lot of competition on that property, so we may not get it depending on how fast we can raise the equity. We plan to pursue Georgia Avenue if Rhode Island Avenue is unavailable, and we will move forward on the agreement once we have commitments for at least half of the equity required. The Managing Member does not expect major renovations but there will be minor cosmetic work in addition to cleaning and brokerage commissions.      The Local Market. The Petworth neighborhood has seen steady appreciation over the recent years. This pattern is expected to continue as areas to the east continue to gentrify. Residential and commercial rents are expected to rise as pricing in the neighborhood is lower than other parts of Washington, resulting in anticipated rapid appreciation of the property. The convenience to downtown and amenities also attract local residents.   The Tenants. The Property will be delivered vacant. We expect the first floor to be attractive to a variety of potential neighborhood type retail tenants or possibly a restaurant. The second floor tenant may be a service tenant such as a hair salon. The second and third floors could be office or medical space.