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1717 N Street NW Washington, D.C 1717 N 17TH STREET NW STREET NW N STREET NW MASSACHUSETTS EVENS ALLEY NW 1717 N Street NW Washington, D.C. GREYSTEEL EXCLUSIVE OFFERING Delivered Vacant Unique Opportunity All tenants are on month-to-month leases, which are In the past 24 months, only three similar properties terminable with 60-days notice; thus the Property can have sold in the area bound by K Street NW, be delivered vacant allowing new ownership to begin Massachusetts Avenue NW, New Hampshire Avenue implementing their investment strategy immediately NW, and 16th Street NW. 1717 N Street NW is a upon settlement. unique opportunity to acquire a trophy asset with significant value-add potential. Superior Location The Property is located on the 1700 block of N Street NW in the middle of Washington, D.C.’s downtown district, providing a viable condo and office redevelopment option for the investor looking to buy in one of the region’s most influential and attractive submarkets. Access to Transit The two parking spaces in the rear of the Property provide a sought-after amenity one block off Massachusetts Avenue NW and Connecticut Avenue DUPONT CIRCLE METRO STATION (0.2 MILES) NW, two of D.C.’s busiest transit corridors. WMATA’s Dupont Circle Station (two blocks away) provides Red Line access throughout Washington and into Montgomery County, Maryland. Mixed-Use 15 (MU-15) Zoning The favorable MU-15 zoning allows for a structure covering up to 4.8 floor-to-air ratio, up to 70 feet in height, and 100% lot occupancy. The current structure (4,666 square feet) does not cover 100% of the lot (1,684 square feet) allowing for significant DUPONT CIRCLE (0.3 MILES) additional density by-right per existing zoning. © 2019 Greysteel Floor Plans First Floor Conference Room Area Second Floor EXIT TO REAR UTILITY STORAGE ROOM BACK STAIRWELL OFFICE KITCHEN BATHROOM MAIN STAIRWELL CLOSET KITCHEN MAIN STAIRWELL BATHROOM ROOM WORK AREA CONFERENCE FRONT OFFICE SMALL DECK MAIN ENTRANCE © 2019 Greysteel Floor Plans Third Floor Fourth Floor MAIN STAIRWELL HVAC OFFICE BATHROOM CLOSET KITCHEN CLOSET KITCHEN MAIN STAIRWELL BATHROOM WORK AREA © 2019 Greysteel DUPONT CIRCLE P STREET NW 17TH STREET NW 17TH STREET NEW HAMPSHIRE AVENUE NW EMBASSY OF MASSACHUSETTS AVENUE NW UZBEKISTAN CONNECTICUT AVENUE NW CONSULATE OF THE PATISSERIE REPUBLIC OF KABIN LOUNGE CHILE EMBASSY OF MANOR COLOMBIA SUPER POLLO EMBASSY OF FATTY’S TATTOOS TRINIDAD & EMBASSY & PIERCINGS TOBAGO OF PERU PROPER TOPPER KODAK EMBASSY OF THE PHILIPPINES N STREET NW 18TH STREET NW 18TH STREET THE WORLD BANK TREASURY 1717 N STREET NW JEFFERSON PLACE NW CATHEDRAL OF RHODE ISLAND AVENUE NW ST. MATTHEW THE APOSTLE SUKI ASIA JAKE’S FRESH CARUSO FLORIST M STREET NW 19TH STREET NW 19TH STREET LUCKY BAR OXFORD CAFÉ DC IMPROV COMEDY CLUB SUNRISE CAFÉ ©RETAIL 2019 Greysteel MAP Property Details 1717 N Street NW Washington, D.C. 20036 97 95 78 4,666 8,083 WALK SCORE BIKE SCORE TRANSIT SCORE EXISTING GROSS SF MAX FAR SF (IZ) (Walker’s Paradise) (Biker’s Paradise) (Excellent Transit) LOT SIZE TYPE OF OWNERSHIP ZONING PARCEL 1,684 SF Fee Simple MU-15 (Previously SP-1) 0158-0801 CONSTRUCTION MECHANICALS Framing Brick/Concrete Heating Forced Air Exterior Brick Air Conditioning Forced Air Parking Two Parking Spaces in Rear Roof Built-Up Windows Dual-Pane Stories 4 Building 1 TAXES Year Built/ 1900/1986 TAX TOTAL TAXES Renovated TAX RATE YEAR ASSESSED VALUE PAID 2017 $1,956,170 0.85% $16,627 2018 $2,047,880 0.85% $17,407 2019 $2,148,300 0.85% $18,261 2020 (Proposed) $2,112,210 0.85% $17,954 Unit Type Current NSF Added GSF New GSF Building Core Rentable SF 1BR Units 1BR Units Avg SF 1st Floor 595 SF 1,008 SF 1,603 SF 25% 1,202 SF 2 601 SF 2nd Floor 1,603 SF - 1,603 SF 15% 1,363 SF 2 681 SF 3rd Floor 1,557 SF - 1,557 SF 15% 1,323 SF 2 662 SF 4th Floor 824 SF 779 SF 1,603 SF 15% 1,363 SF 2 681 SF Penthouse - 779 SF 779 SF 15% 662 SF 1 662 SF Total 4,579 SF 2,566 SF 7,145 SF 17.24% 5,913 SF 9 657 SF © 2019 Greysteel Condo Comparables MASSACHUSETTS EVENS ALLEY NW 1745 N 1717 N STREET NW STREET NW N STREET NW Unit Property Settled Date Sold Price Year Built Unit Type Unit Size Price/SF Number 1745 N Street NW #508 Apr-19 $2,400,000 2018 2BD/3.5BA 2,309 $1,039 1745 N Street NW #408 Dec-18 $1,099,900 2017 2BD/2BA 1,210 $909 1745 N Street NW #501 Dec-18 $795,000 2018 1BD/1BA 886 $897 1745 N Street NW #401 Jun-19 $784,900 2018 2BD/2BA 886 $886 1745 N Street NW #507 Jun-19 $699,000 2018 1BD/1BA 775 $902 1745 N Street NW #406 May-19 $648,400 2018 1BD/1.5BA 690 $940 1745 N Street NW #604 Mar-19 $595,000 2018 1BD/1BA 641 $928 1745 N Street NW #502 Mar-19 $565,000 2018 1BD/1BA 652 $867 1745 N Street NW #404 Apr-19 $555,000 2018 1BD/1BA 641 $866 1745 N Street NW #303 Jan-19 $469,900 2018 1BD/1BA 531 $885 Survey Average $861,210 922 $912 © 2019 Greysteel Financials Development Standards Zoning MU-15 Zonning Regulation Reference Subtitle G, Chapter 6 Floor Area Ratio (Non-Residential) 2.5 Floor Area Ratio (Residential) 4.0 Floor Area Ratio (IZ) 4.8 Height 65 ft Height (IZ) 70 ft Lot Occupancy (%) 100% Rear Yard 12 ft Green Area Ratio 0.30 Side Yard None required Penthouse Height / Stories 12 ft. (1 story), 18.5 ft (Penthouse Mechanical Space) © 2019 Greysteel 7735 Old Georgetown Road • Suite 301 • Bethesda, MD 20814 202.280.2722 • www.greysteel.com New York • Los Angeles • Dallas • Fort Worth • Washington D.C.* • Philadelphia • Phoenix • Denver • Baltimore • Charlotte • Norfolk D.C. License No: LL98371301 *Corporate Headquarters and Transaction Services Center SALES: FINANCE: W. KYLE TANGNEY HERBERT SCHWAT CHRISTIAN ALVES DUTCH SEITZ BRENDAN SCANLON Managing Director Director Senior Investment Associate Investment Associate Senior Director 202.280.2730 202.618.3419 202.899.6414 202.869.3891 202.803.5810 [email protected] [email protected] [email protected] [email protected] [email protected] For more information or to inquire about Greysteel, please contact Ari Firoozabadi, President & CEO ([email protected] | 202.417.3873) Greysteel, seller, and their respective representatives make no representations or warranties, express or implied, regarding the accuracy or completeness of the information in this Offering Summary. Prospective purchasers shall be responsible for performing their own independent due diligence with respect to a possible transaction. This offering is subject to prior placement, withdrawal, cancellation or modification without notice. All references to acreage, square footage, and other measurements are approximations and must be independently verified..
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