5501 7Th Street NW

Washington, DC
$ 1,200,000 Beds 0 Baths 0 Sq 2,150
Monthly Estimate* How much can I afford?

$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’s 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 – 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

Pending

  • Price
  • $ 1,200,000
  • Lot Size
  • 1,742 SqFt
  • Bedrooms
  • 0
  • Sqr Footage
  • 2,150
  • Full Bathrooms
  • 0
  • Year Built
  • 1923
  • Half Bathrooms
  • 0
  • City, Zip
  • Washington
  • Taxes
  • $ 4404
  • County
  • WASHINGTON
  • Style
  • Flex,/General Retail,Professional
  • Area
  • MLS#
  • DCDC508928
  • Zip
  • 20011
Listing Provided by: TTR Sotheby's International Realty
Data Source: Bright MLS

Features

General

Accessibility None
Business Type Flex, Other/General Retail, Professional, Other
Construction Materials Brick
Cool Fuel Electric
Cooling Central A/C, Window Unit(s)
County WASHINGTON
Days on Market 59
Flooring Ceramic Tile, Hardwood, Slate
Heating Heat Pump(s), Radiator
Historic Y/N No
Legal Subdivision PETWORTH
Location Type Urban
New Construction No
Ownership Fee Simple
Parking Features Paved Parking, Private, Surface
Possession Settlement
Price Per Sq Ft 558.14
Property SubType Mixed Use
Property Type Commercial Sale
PropertyCondition Good
Sewer Public Sewer
Subdivision Name PETWORTH
Tax Annual Amount 4404.0
Tax Lot 836
Tax Year 2020
Vacation Rental Y/N No
Water Access Y/N No
Zoning MU-4
Zoning Description Mixed use zone

Interior Features

Central Air Y/N Yes
Heating Fuel Natural Gas, Electric
Heating Y/N Yes
Hot Water Natural Gas
Total Restrooms 3

Exterior Features

Building Area Total 2150.00
Car Parking Spaces 3
Fencing Y/n Yes
Lot Size Acres 0.04
Lot Size Source Assessor
Lot Size Square Feet 1742.00
Navigable Water Y/N No
Soil Types Unknown
Total Parking Spaces 3
Type of Parking Driveway, Other
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Hillsborough, NJ office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

3/8/2021 Listed $1,350,000
3/31/2021 12% - $1,200,000

Property vs Zip Code Average in 20011

Price
AVG $610K
$1.2M
Taxes
AVG $120,439
$4,404
Visits
AVG 96
158
Year Built
AVG 1953
1923
Walkscore
AVG 83
86
Data Provided by Walkscore ® not using MLS data

Map

5501 7Th Street NW Washington, DC is a Single Family Home for sale at $1200000 with 2150 sqft and a lot size of 1,742 SqFt Acre(s). 5501 7Th Street NW Washington has 0 bedrooms, 0 baths and was built in 1923. The property's zip code is 20011 which is in Washington, DC

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided 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.