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Tuesday, April 10, 2007

Buy Me and Fix Me Up

Craigslist gives us another, albeit pricier, fixer upper this week. Check out this link for a mixed use building and parking lot for sale at 7th and Q Streets.

$3200000 Multi-Use Bldg. + Paved Lot in Shaw!

A location with great foot traffic, this three-level, 2900SF, mixed-use building has 1,100 SF each on the first (retail) and second (office or residential) levels, and 700 SF on the third level (office or residential). This building also has a basement with a low ceiling, suitable for storage.

Next to and behind this prime building is 1900 SF of asphalt space -- ideal to support a restaurant or retail establishment on the first floor and/or offices/residential on the second and third floors.

Within walking distance to both Howard University and the new Washington Convention Center, this property is also close to the O Street Market development.

Bob Woods, CapStar Commercial Realty
Please use Craigslist e-mail to respond to this ad.


Anonymous said...

1412 9th street, right next to Vegetate, just went on the market for $950,000....2 apartments over unrenovated retail space with 4 parking spaces.......seems like a sweet deal for the right buyer.

rr 446 said...

the ad should have also stated it's 1 block from the shaw/howard metro station and 1 block to metro bus stop.

Ray said...

This site has an important place in DC history. The building on the corner was a Jewish-owned liquor store that got burned out in the riots. My venerable neighbor, Elizabeth Parsley, recounted her witnessing that after looting the store the crowd ignited torches to "burn out the Jews." Despite the entreaties of a young Black man who begged the crowd to not set the building alight because his invalid mother was trapped upstairs, they torched the building anyway and barbecued the mother that Saturday night, Palm Sunday eve. She was one of 13 victims of the Martin Luther King memorial arson and looting, which DC notables like Marion Barry wants to move Martin Luther King day to April to celebrate the riots. Celebrate Shaw history. Right. Let's have a Shaw Meanstreak banner to remember the victims of Shaw anti-Semitism.

bebejack said...

also the market on 8th and rhode island is for sale too. maybe some one could buy it and make a great little store with more than lotto tickets and bumpers for sale....

Alan Mlynek said...

where can someone find a listing of all the commercial/residential properties in the shaw/u-street/columbia heights area?

rr 446 said...

so, how many feet wide is this package and how many feet deep and it's on an alley?

Shaw Rez said...

Good call, Anon 6:01--that property at 1412 9th does seem like a great deal.

Alan--Good question. I imagine a realtor can easily hook you up with such information. Boris Miric (boris @ borismiric . com) is an active player in and contributor to the Shaw neighborhood and can probably assist you.

rr446 - I'm not sure of any of the details regarding this property. The craigslist listing is still live (as of 4/11/07), so you may want to contact its author ASAP. I imagine it's on an alley.

Modthinglet said...

I like to search the sale listings at the long and foster website (or another realtor site). You can search by zip code, or choose additional search options and use neighborhood name or choose to search only commercial properties.

Hopefully this search link works (I've inserted a returns, so it will fit in the comment field.)

Anonymous said...

3.2 Million.

What crack is this person smoking!!! Where do these dumb asses get off on trying to sell on "potential" This place is only worth 700k given the appearance of the place.

This is just as bad 1801-1803 9th Street NW -- which is listed at 2.2 million. With that fake stone crap and absolutely no renovation.

richard said...

shaw rez

i'm JUST wondering how they can seriously ask 3.2 for that corner but it is zoned commercial yet it does seem high. LOL

Shaw Rez said...

haha... Richard--rest assured, I personally won't be submitting any offers on the place! I'm pretty clueless about the commercial real estate market and what fair market value on that place would be. Although the building appears to be in rough shape, the un-improved parking lot it comes with is probably the most value-adding aspect of this listing. And being on a corner is likewise probably worth a lot. No less, 3.2 mil sounds pricey to this guy!

Modthinglet said...

How about the guy at 1250 9th? $10,000,000 for that shell?!

Or the vacant building at 1801-1803 9th--$2.2 million.

In other real estate news:

The Queen of Sheba building at 1503 9th is for sale for $2,000,000.

And we have 1913 9th (vacant, as far as I can tell) for $1,998,000; the garage shell at 1321-3 Naylor Court is going for $1,195,000.

rr 446 said...

well, if your address is 3 Naylor have arrived!

ed said...

Current assessments for some properties.

1250 9th St NW -- $896,610
1412 9th St NW -- $361,850
1503 9th St NW -- $278,800
1913 9th St NW -- $309,350
1801-1803 9th St NW -- $324,820

Seem a little low to me.

Shaw Rez said...

I agree, Ed, those assessments seem low.

I'm surprised that the Queen of Sheba Building, 1503 9th, is for sale. It appears fully occupied and was renovated within the past few years, so is likely a money-maker for its owner.

I wish that used car lot next to it (on the corner of 9th and P) would give way to a new development...

Modthinglet said...

You're right, the current assessment on 1503 seems low. But the proposed assessment for next year is 1.5 million.

During my perusal of the real estate listings last year, I saw that vacant lot next to Sheba on sale. Originally the price was around $500,000, then it dropped to around $350,000. I thought the pricing was delusional. Seems off the market now. The pit at the corner of 9th and Q is actually two lots. If I remember correctly, each was listed over $500,000 early last year. Now also off the market.