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Monday, May 21, 2007

Buy Me: 1234 9th Street


Drew reports that the former vending machine warehouse located at 1234 9th Street (pictured above)--directly across from the Convention Center and to the right of Wagtime--recently went on the market. Offered through McBride Real Estate Services, Inc., this property consists of 2 parcels of land: one 8000 sq ft parcel fronting 9th Street on which the above-pictured warehouse sits and one 6000sq ft parcel of land behind the warehouse and across the alley (bearing the address 922-924 N Street) on which a shell of a warehouse sits. Buyers must purchase both parcels, and the collective asking price is $4.6 million.

Wouldn't the 9th Street space make for a neat pool hall, like Carpool? Or maybe an Open City/Tryst/Diner/Busboys and Poets type of place, with garage-like front windows that open up in nice weather? Ahh, the possibilities are endless. It would also be great to add a few stories to it for additional residences in the area, some of which could front Blagden Alley.

14 comments:

rr 446 said...

i think the buyer will be purchasing this for air rights, however i could be wrong again.

Shaw Rez said...

rr - I think you're very right...

I also think the existing warehouse, though in very rough shape, is kinda neat looking. I know my list of "wouldn't it be cools" for the space is trumped by the realities of it sitting on a very valuable piece of land. And more housing/retai/commercial by building up probably serves a higher purpose than trying to salvage this industrial facade.

Drew said...

Yes... and when I spoke to the realtor... he made it clear they were selling two parcels of land. I don't think they are expecting the shells of warehouses to make the sell, definitely the air space... although a creative developer may decide on an interesting way to incorporate the original building. I think it is safe to say that it is doubtful.

Anonymous said...

Pretty cool news - 1230 9th is slated to be "Nima's Restaurant and Bar," a "continental restaurant serving italian and french cuisine" with occasional DJ and live band, and occasional piano player....they've applied for a liquor license...SWEET.

dgarbs said...

walnut street development had included this property in its original plans for blagden alley. but the financials did not work out. they had the facade preserved.. and i certainly hope the new developer will do the same.

Anonymous said...

hmmmm, i think WSD's blagden alley project included the vacant lot around the corner from M, not this building....i'm pretty sure this is the SAIL charter school building that they just put on the market...

Drew said...

Hey Anon, where'd you hear about Nima's?... That's exciting!

Anonymous said...

hey drew - i got the info. from the latest Naylor Court newsletter...apparently, Nima's will be going before Alcohol Control in July, if i remember correctly (i don't have the letter in front of me right now)...it sounds like an excellent addition to 9th!!

keg said...

There is a new ABC placard/posting in the window of the rowhouse directly south of this warehouse building. That placard probably belongs to Nima's. Directly south of that rowhouse, the next rowhouse is also being refurbished though I don't know if it will be restaurant or retail. With Chans, Divine Cravings, and these two places, we're finally seeing some much needed progress. Too bad the city will maintain it's half-block north of L boarded up for the next 10 or so years till they get their act together with Marriott.

ed said...

Am I the only one who thinks $4.6 million is little steep? No way will it become a cool hang-out with that price tag. Only a developer can afford it and they usually stick with middle of the road national-chain crap and "luxury" condos.

It sucks that DC lets owners/speculators sit on vacant property that should be put to better use. Wouldn't it be nice if a small business owner could afford to restore a rundown place and put in their own business?

The warehouse could be very hip. Just look how popular the meatpacking district (or any gallery in Chelsea) in New York City is. People love athenticity and creative use of existing structures. DC is so non-hip. It will probably be torn down and turned into a Suntrust Bank.

Shaw Rez said...

Anon, Keg et al. - Post about Nima's coming soon; Drew's taking pictures as we speak.

Ed - I hear you. As these two parcels cover a lot of dirt, however, the price may not be inflated (or it may be--I don't really know what the going price should be for so much land right across from the convention center). On closer inspection last night during a jog, this building doesn't seem to have much detail to it. I always see potential in old buildings, though, and agree that such a raw, industrial space could add neat character to the neighborhood if fixed up appropriately. Nonetheless, adding housing (and the corresponding foot traffic, etc.) to the area hopefully doesn't mean giving in to bland architecture and uses.

ed said...

1234-1238 9th St NW is currently assessed at $1.4 million. It is not listed as class 3 and does not have an exemption.
https://www.taxpayerservicecenter.com/RP_Search.jsp?search_type=Assessment

Drew said...

Don't forget to tack on the value from 922-924 N St as well, selling both parcels together.

Alexander M. Padro said...

Plans approved by HPRB for the WVSA site will presumably be part of the sale. The existing building was to receive a vertical addition of three stories, if memory serves. WVSA backed off when they couldn't get the rest of the funding they needed in order to build the school.

--Alexander M. Padro
Shaw Main Streets