2400-2406 Minnesota Ave Washington, DC 20020

Listing details for 2400-2406 Minnesota Ave, Washington, DC 20020 : Current/Projected Rent Roll: Upstairs apartments: $3,000 / month = $36,000 / year Ground floor retail (leased convenience store): $2,650 / month = $31,800 / year Vacant first-floor restaurant (market potential): $3,400–$3,700 / month = $40,800–$44,400 / year Total Potential Gross Income (PGI): Low case: $108,600 / year High case: $112,200 / year Expenses: Taxes: Currently only $2,279 (but that’s from a 2002 assessment, so expect much higher once reassessed; let’s conservatively assume $10,000 after sale). Other OPEX (insurance, maintenance, utilities common areas, etc.): $15,000–$20,000 annually (industry standard 15–20% of gross for mixed-use of this size). Net Operating Income (NOI): Low case NOI ≈ $78,600 – $83,600 High case NOI ≈ $82,200 – $87,200 Purchase Price: $1,199,000 Cap Rate: Low NOI / Price = 6.6% High NOI / Price = 7.3% So marketed cap rate range = 6.5% – 7.25%, which is strong for DC mixed-use in Anacostia. For Sale – 2400-2406 Minnesota Avenue SE, Washington, DC 20020 Offered at: $1,199,000 Prime opportunity in the heart of Anacostia! This mixed-use property features a versatile and income-producing layout, ideal for investors, developers, or owner-operators. The property includes two ground-floor retail spaces: Unit 1: A convenience store tenant currently leased at $2,625 per month, providing stable income from day one and 33% of property Tax Unit 2: A vacant carryout restaurant equipped with a full commercial kitchen, hood system, fryer, and additional infrastructure in place—perfect for immediate restaurant or ghost kitchen operations. Upstairs, the property offers flexible residential or commercial use with: Three kitchens Six rooms, ideal for multi-family conversion, short-term rental, or workforce housing. Key Highlights: Delivered vacant if desired—unlock maximum repositioning potential. Highly visible corner location along a major commuter route. Walking distance to bus stops, neighborhood amenities, and minutes from Downtown Anacostia, Barry Farm redevelopment, and the future 11th Street Bridge Park. Perfect for investors seeking cash flow or entrepreneurs looking for a live/work or retail/hospitality operation. Zoning and layout offer a variety of repositioning strategies—restaurant, convenience, residential rental, short-term rental, office suites, or co-living.