For Sale Prime DC Building Steps from Gallery Place/Chinatown Metro 609 H Street NW, Washington, DC 20001 Offering Summary | 609 H Street, NW
The Opportunity
NAI Michael is pleased to offer to qualified purchasers the fee simple interest of an approximate 6,736 square foot commercial building located at 609 H street NW, Washington DC 20001. The property is located in Chinatown, one of Washington DC’s most active and vibrant neighborhoods.
609 H Street is an ideal opportunity for a purchaser seeking to buy a property in the highly desirable market of Washington DC’s Chinatown neighborhood. Chinatown is home to the Capital One Arena (former Verizon Center), Gallery Place Mall, Gallery Place Metro Station, countless retailers, museums, class A office buildings and dense high-end residential. 609 H Street is an extraordinarily rare opportunity as this building has not been offered for sale in the last 40 years.
The building is currently occupied by Eat First Restaurant. Eat First has been a long-term tenant and occupies the entire building. The lease with Eat First, which is well below market, expires May 31, 2019 and contains no options to extend the lease.
Property Description
The subject property, 609 H Street NW, Washington DC, is an approximately 6,736 square foot, three-story building situated on approximately 0.06 acres of land (2,618± square feet of land)*, with approximately 25.17* feet of frontage along H Street. *Per available public records
The first floor currently operates as Eat First Restaurant and has a typical restaurant build-out - tables and seating in the front, a small bar in the back and a full kitchen in the rear. There are restrooms on the first floor. The second floor, which can only be accessed via interior stairs, is currently configured for additional seating in two large rooms. The rear portion of the second floor (overtop of the first-floor kitchen) is currently used for storage. The third floor, which can also only be accessed via interior stairs, has the layout of a residential unit and is currently used for storage. The property has a below-grade basement with approximately 7.5’ ceilings. The basement has access via an exterior stairwell from H Street and a stairwell from the first floor of the subject property.
Access to the property is via H Street, however, there is an alley located west of the subject property (owned by Monument Realty) that currently provides access to the rear of the building. Location
609 H Street NW is located on the west bound lane of H Street in the center of the Chinatown neighborhood, adjacent to the historic Chinatown Arch. The property is situated in between the Wah Luck House (800 6th Street) and Jackey Café (611 H Street), with the closet signalized intersection at H Street and 6th Street. The subject property is directly across H Street from Gallery Place, which is a large retail development with over 100,000 square feet of retail shopping and restaurants, and direct access to the Gallery Place/Chinatown Metro station.
Chinatown has abundant daily and evening foot traffic. A few of the demand drivers of the significant foot traffic counts are this location’s proximity to the Gallery Place/Chinatown Metro, Capital One Arena, Washington Convention Center and the recently completed City Center DC development. In addition to these large event centers, the subject property is located near many offices and residential buildings.
• Gallery Place/ Chinatown Metro Station: 9.5 million riders annually or 25,000+ riders per day • Capital One Arena: Entertainment venue with over 220 events and 2+ million visitors per year • Washington Convention Center: 2.3 million square feet of convention and meetings facility • City Center DC: $950 million dollar mix used development spanning 5 city blocks with over 2 million square feet of space
In addition to pedestrians, H Street is an extremely well-traveled transportation artery that connects downtown Northwest DC to Northeast DC and out to suburban Maryland via Benning Road. H Street’s traffic count is approximately 30,000 vehicles per day.
Directly adjacent to the property is Monument Realty’s new mixed-use development that will front Eye Street. Monument is planning an 11-story, 133-unit residential project that will total 152,949 SF, including 14,223 SF of ground-level retail and 2,333 SF for community use. A few store fronts west of the property is the new POD Hotel with 245 rooms (completed 2017). Furthermore, Capitol Crossing, located above I-395 at H street and Massachusetts Avenue, will be a five-building mixed-use project that will contain office, residential and retail components. This project is currently under construction and will further enhance the area. For Sale Three-Story Building Total of 6,736± Square Feet
Property Description • 6,736± SF retail/restaurant building* • Outstanding street front presence
• 2,618± SF lot size* • D-5-R zoning
• 25.17’ frontage* • Existing lease expires in May 2019
• Potential for redevelopment & • Typical restaurant build-out - tables expansion and seating in the front, a small bar in the back and a full kitchen in the rear
D-5-R Development Standards Penthouse Green Zoning Floor Area Lot Occupancy Height (ft.)2 Height (ft.)/ Rear Yard (ft.) Side Yard (ft.) Area Regulation Ratio (max.)1, 2 (percentage)3 Stories Ratio Reference
130 (fronts on right-of- way of at least 110 ft.) 120 (fronts on right-of- 2.5 in. per 1 ft. of way of at least 100 ft. but vertical distance from less than 130 ft.) the mean finished grade If provided, at least 2 None (3.5 min. at the middle of the in. wide for each 1 ft. Subtitle I, 20 100 0.20 residential) 110 (fronts on right-of- rear of the structure to of height of building Chapter 5 way of at least 90 ft. but the highest point of the but no less than 5 ft. less than 120 ft.) main roof or parapet, 90 (historic landmark but not less than 12 ft. or contributing building within a historic district)
*Per available public records
Downtown DC / Chinatown Statistics*
24% 7 28 97 Population Growth Metro Stations Capital Bikeshare Walker’s Paradise (Within 1 mile) Stations (Walkscore)
*Source: Washington DC Economic Partnership’s DC Neighborhood Profiles 2017 Located in DC’s Vibrant Chinatown
The property is in the center of the DC’s Chinatown, one of the most exciting shopping and entertainment areas in the city. Chinatown is part of DC’s Downtown neighborhood, the heart of DC’s business economy. It is adjacent to the prominent Chinatown Arch and directly across the street from Gallery Place/Chinatown Metro station. The property is near many entertainment venues, including the Capital One Arena, museums and theatres, and is in close proximity to the 2.3-million-square-foot Washington Convention Center and Marriott Marquis Hotel. For Sale 609 H Street, NW
United States Mint RFD Mehak Indian Wah Luck House Tony Cheng’s Tony Ming’s
SITE Jackey Cafe
H St NW 30,200 VPD
Chinatown Liquor Calvary Baptist Joy Luck House Chinatown Express
Church Rita’s Garden Tai Shan Tai Chinatown
Wok ‘n Roll Wok Kanlaya Zengo
Kidpower Inc. California Tortilla 9th St NW 7th St NW 6th St NW
Gallery Place Bowling Lanes & Movie Theater
It’s Sugar
Zaytinya DC Common
Proof Close to all of Chinatown’s amenities & entertainment
United States Mint Gallery Place/Chinatown Metro Station: 9.5 million riders annually or 25,000+ RFD riders daily Mehak Indian Wah Luck House Capital One Arena: Entertainment venue with over 220 events & 2+ million visitors per year (formerly the Verizon Center)
Washington Convention Center: 2.3 million SF convention & meetings facility Tony Cheng’s Tony Ming’s
SITE Jackey Cafe CityCenterDC: $950 million mixed-use development spanning five city blocks with over two million SF of space H St NW 30,200 VPD Smithsonian American Art Museum & National Portrait Gallery: National
Chinatown Liquor museum with over one million visitors in 2016 Calvary Baptist Joy Luck House Chinatown Express
Church Rita’s Garden Gallery Place: Facility with Regal Cinemas, bowling alley, shopping, & more Tai Shan Tai Chinatown
Wok ‘n Roll Wok Kanlaya Zengo Shakespeare Theatre: Venue with over 2.5 million visitors & 150+ productions Kidpower Inc. California Tortilla 9th St NW
7th St NW 6th St NW Transportation: Gallery Place/Chinatown and Metro Center stations provide Gallery Place Bowling quick access to all five metro lines; multiple MetroBus and Circulator stops Lanes & Movie Theater along H Street
It’s Sugar
Zaytinya DC Common
Proof M St NW
Demographics
1/2 mile 1 mile 1.5 miles 10th St NW 9th St NW 7th St NW 6th St NW 4th St NW Population 16,775 48,760 114,235
Population Growth 25.43% 22.68% 18.80% Massachusetts Ave NW (2010-2016) Washington 50 Convention Center Households 9,434 26,839 59,640 KEY
Avg Household New York Ave NW $118,541 $117,176 $122,316 Retail & Restaurants Income Government Daytime Population 98,880 206,840 565,911 K St NW Arts & Entertainment
Number of Of ce 1,272 12,802 28,131 Businesses Massachusetts Ave NW Hotel (Nielsen SiteReports 2016, US Census, & SalesGenie) Residential New York Ave NW Traffic Count - 30,200 vehicles per day on H Street NW
(TrafficMetrix® Products)
SITE US Mint H St NW
H St NW
US Secret Service Gallery Place
Government Accountability Of ces 10th St NW 9th St NW 7th St NW 6th St NW 4th St NW
395
F St NW
US Government Nat’l Academy Courts of Sciences M St NW
For Sale 609 H Street, NW 10th St NW 9th St NW 7th St NW 6th St NW 4th St NW
Massachusetts Ave NW
Washington 50 Convention Center KEY
New York Ave NW Retail & Restaurants
Government
K St NW Arts & Entertainment
Of ce Massachusetts Ave NW Hotel
Residential New York Ave NW
SITE US Mint H St NW
H St NW
US Secret Service Gallery Place
Government Accountability Of ces 10th St NW 9th St NW 7th St NW 6th St NW 4th St NW
395
F St NW
US Government Nat’l Academy Courts of Sciences Be a part of DC’s bustling Downtown neighborhood
For more information, contact:
Michael J DiMeglio +1 301 918 2949 • [email protected]
10100 Business Parkway | Lanham, Maryland 20706 | +1 301 459 4400 | naimichael.com
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Floor plans, site plans and other graphic representations of this property have been reduced and reproduced, and are not necessarily to scale. All information should be verified prior to purchase or lease.