1201 Mount Olivet Rd NE,WASHINGTON, DC 20002
WASHINGTON, DC 20002
Description
******Turnkey Cash Flow with High-Upside Mixed-Use Redevelopment******Zoning: MU-4 (Mixed-Use Moderate Density) An exceptional, dual-opportunity commercial listing priced at the high-visibility corner of Mt. Olivet Road and Montello Avenue NE. This offering features a 3,000-square-foot freestanding commercial building paired with the sale of the thriving, turn-key Northeast Supermarket business currently running under fully absentee ownership. Investors can instantly capitalize on highly consistent, strong operational revenue while securing a premium piece of real estate in one of the fastest-growing commercial corridors in Washington, DC. --Robust Business Financials & Recent Upgrades-- -The well-established Northeast Supermarket serves as a staple community pillar, functioning as a retail hub for the community for approximately 70 years. -Capital Improvements: Enjoy immediate peace of mind and minimal deferred maintenance with recent high-ticket infrastructure upgrades, including a brand-new commercial roof and a brand-new commercial cooler system.-Seamless Transition: The turn-key setup ensures the business remains fully functional from day one of ownership, protecting your cash flow immediately upon closing. --Zoning and Development Profile-- -Zoning Designation: MU-4 (Mixed-Use Moderate Density). -Permitted Uses: MU-4 zoning permits mixed-use development, specifically designed to blend multi-family housing with neighborhood-serving retail, office spaces, and service centers.-Air Rights & Expansion: The property offers incredible "covered land" advantage. You can operate the profitable market until you are ready to build upward, leveraging the neighborhood's moderate-density allowance to develop a lucrative multi-story apartment or condo complex over ground-floor retail. --Strategic Location & DC City Development Plan Alignment-- -This property is a stellar long-term investment because it is located directly inside the target zone of the District's multi-phase municipal revitalization plans: --The Ivy City Small Area Plan: Approved by the DC Council, this DC Office of Planning Framework actively guides private and public infrastructure capital directly into this corridor. The city's master plan prioritizes the expansion of new housing options, active pedestrian-friendly streets, and community-serving commercial retail right along the Ivy City and Trinidad borders. --Surrounding Growth: Positioned just blocks away from the booming, trend-setting hubs of Union Market and Ivy City, this location is perfectly poised to ride the wave of rapid neighborhood appreciation and population density growth.
Details
| MLS # | DCDC2262812 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1955 |
| Days On Site | 136 |
| Listing Provided By | Mega Realty & Investment Inc | Diane M Lee |
Features
| Zoning | MU-4 |
|---|---|
| Acreage | 0.29 |
Interior
| Cooling | Other |
|---|---|
| Heating Yes / No | Yes |
| Heating | Other |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 31580 |
|---|
Area Information
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in 20002) | |
Price: $1,600,000 low | high Med: $450,000 On site: 136 low | high Med: 25 | |
Market Activity 20002
Request a showing
Request a showing
Contact
Learn More About This Property
| State | DC |
|---|---|
| County | WASHINGTON DC |
| City | WASHINGTON |
| Zip Code | 20002 |
| Area | WASHINGTON DC |
| School District | DISTRICT OF COLUMBIA PUBLIC SCHO |
| Listing VS Median (in 20002) | |
Price: $1,600,000 low | high Med: $450,000 On site: 136 low | high Med: 25 | |
 | $1,500,0001210 Meigs Pl NeWashington, DC 20002 |
 | $1,400,0001239 Meigs Pl NeWashington, DC 20002 |