About 2400-2406 Minnesota Ave Se
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.
