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    5501 7TH Street NW

    WASHINGTON, DC 20011
    • $1,200,000
    • STATUS: Pending
    • ON SITE: 58 days
    • ID#: DCDC508928
    Pending
    UPDATED: 187 min ago
    $1,200,000
    • 0
      BEDS
    • 0.04
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1923
    County:

    School Ratings & Info

    Description

    $150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman+GGs Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footage OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses +GG both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property is also listed as DCDC508906 (For Residential). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. Please see the attached development plans for this site as a 8-unit building with additional street level commercial business

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    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-05-05T23:51:21.433.
    www.locomusings.com/homes/114863110
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    5501 7TH Street NW WASHINGTON, DC 20011

    • Price: $1,200,000
    • Status: Pending
    • Updated: 187 min ago
    • ID#: DCDC508928
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.04
    Acres
    1923
    Built
    Neighborhood:
    Petworth
    County:
    Washington
    School District:
    District Of Columbia Public Schools
    Property Description
    $150K PRICE DROP!! NO OTHER LARGE CORNER Opportunities Exist in the Area (WITH PARKING) An unparalleled investment opportunity to not only develop in the Iconic Kennedy Street Corridor, but to own a part of the area History. For over 50 years, the owner has been operating a Freeman+GGs Barber Shop & Beauty Salon making this site a staple in the community. NOTE: POTENTIAL DEVELOPMENT PLANS (RENDERINGS) SHOWN IN PICTURES: as a 8-unit Residential Building with Additional Commercial Space. Rendering and Plans have been provided by Architect MAKEBA GAINES-KELLY of Gaines Kelly Design House. MAIN ADDRESS is 5501 7th Street NW, but the front side of the property where the commercial businesses are on the Kennedy Street level has ADDRESS of 631 Kennedy Street, NW DC. (Sits directly on the corner of 7th & Kennedy Streets NW) As a Mixed-Use site (MU-4), this Huge Corner is a Prime location for a Plethora of Development Concepts and offers flexibility to keep current footage OR build upwards (increase level count) and add-on to rear (build back) for Residential and/or Commercial usage. Located in a DC Qualified HUB Zone and Has NO Leases and NO Tenants. SOLD STRICTLY AS-IS Upper Levels provide Hardwood Floors, 4 Bedrooms, a Full Bathroom, Kitchen, Rear Deck, and a large front porch (It used to be rented out for residential). Lower Street Level has 2 entrances for 2 separate businesses +GG both have Half Bathrooms. Current Parking in the rear for 3 vehicles. Situated on Kennedy Street and Minutes to: Rock Creek Park, many transit routes which facilitate ease to access most of the city as well as Chevy Chase, Bethesda, Takoma Park, Silver Spring and Friendship Heights. Also close proximity to an array of dining options & Cafes, and Many More Conveniences. A $10MM Kennedy Street Revitalization Plan has recently been completed, and development of 2MM SQF at nearby Art Place at Fort Totten is currently underway, with Aldi, Meow Wolf Museum, and a 24-Hour Fitness as anchor tenants. Please note, this property is also listed as DCDC508906 (For Residential). Please use COVID precautions. Live On the Upper Level(s) or Divide the Upper Levels Into 2 units, Operate a business (or 2 businesses) on Street Level, and rent the Upper Level(s). So Much Potential Here. Please see the attached development plans for this site as a 8-unit building with additional street level commercial business
    Exterior Features

    Construction Materials Brick Garage YN No Location Type Urban Parking Features Paved ParkingPrivateSurface Parking Types DrivewayOther Property Condition Good Riparian Rights YN No Soil Types Unknown Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 2150.00 Cooling Central A/CWindow Unit(S) Flooring Ceramic TileHardwoodSlate Heating Heat Pump(S)Radiator Heating YN Yes Net Square Feet 2150.00

    Property Features

    Accessibility Features None Assessment Year 2020 Association YN No Business Type FlexOther/General RetailProfessionalOther Central Air YN Yes Cooling Fuel Electric Cross Street 7th & Kennedy Streets Nw Heating Fuel Natural GasElectric Historic YN No Hot Water Natural Gas Lease Considered YN No Navigable Water YN N New Construction YN No Original MLSNumber 304485302302 Ownership Interest Fee Simple Possession Settlement Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 4404.00 Tax Assessment Amount 436290.00 Tax Lot 836 Transportation Bus Stop Less Than 1 MileMetro/Subway Station 1 To 3 Miles Vacation Rental YN No Water Source Public Zoning Mu-4 Zoning Description Mixed Use Zone

    Listing courtesy of Ttr Sotheby's International Realty.


    ©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or LoCoMusings | Century 21 Redwood Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-05-05T23:51:21.433.
     
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