th Street NW. Washington, DC OFFERING MEMORANDUM. Classic corner building for sale off dupont circle at 18th and massachusetts Avenue NW

Transcription

1 th Street NW Washington, DC OFFERING MEMORANDUM Classic corner building for sale off dupont circle at 18th and massachusetts Avenue NW

2 CONTENTS Offering Terms 3 Executive Summary 4 Property Summary 5 Floor Plans 6 Investment Highlights 7 Location Overview 8 Location Map 9 Economic Overview 10 CONTACT

3 Offering Terms Ownership OCA Property LLC Interest Offered 100% Fee Simple Offering Price $9,000,000 ($479/SF) Bid Deadline A formal call for offers letter will be distributed at the appropriate time. All submissions must be faxed, ed or hard copy delivered. Offers should be submitted in the form of a non-binding letter of intent and should specify the following: Purchase Price Study Period (if any) Closing Earnest Money Deposit Contingencies (if any) Sources of Funds (Equity and Debt, if applicable) Consents and/or approvals needed for closing Any other information having a direct bearing on the investor s/user s ability to close the proposed transaction

4 Executive Summary Newmark Grubb Knight Frank is pleased to offer for sale the property located at th Street, NW in downtown Washington DC th offers discriminating investors or users the opportunity to purchase a classic building with unparalleled location and presence in DC s Central Business District. Built in 1870, the historic building has distinctive white brick, grand columns, extensive trim and oversized windows. Interior features include a large staircase, conference room, high ceilings and fireplaces. The 6,189 SF lot is lanscaped with specimen bushes and flowers. A outdoor, brick patio offers rare private outdoor space. The generous floorplates easily accommodate multiple offices and open work areas, and the building s corner location provides for natural light throughout. The building is approximately 18,796 SF on four floors. Aside from the building s historic charm, the 19th and Massachusetts Avenue location, off of Dupont Circle, is ideal. With several dozen restaurants and hotels within walking distance, and three Metro locations equally close, it is ideal for any type of business or residential use. The strength of the location is reflected in a near perfect walk score of 98. The property is being sold vacant, ready for occupany or redevelopment.

5 Property Summary PRESTIGIOUS LOCATION IN CBD/DUPONT CIRCLE RARE PURCHASE OPPORTUNITY OF 18,796 SF CORNER OFFICE BUILDING STATELY BUILDING WITH ABUNDANT LIGHT, HIGH CEILINGS AND A REAR PATIO PROPERTY SUMMARY Address: th Street NW, Washington, DC 20036; Square 137, Lots 33 & 824 Ownership: OCA Property LLC Year Built: 1870 Building Area: Zoning: Submarket: 18,796 SF on 6,189 SF Lot MU-15 CBD Transportation: 2 blocks to DuPont Circle Metro ( RED ) 4 blocks to Farragut North Metro ( RED ) 5 blocks to Farragut West Metro ( ORANGE / BLUE / SILVER ) Circulator Bus Capitalt Bikeshare stations are located throughout the neighborhood

6 Floor Plans Basement 1st Floor 2nd Floor 3rd Floor

7 Investment Highlights Building: Image: Location: Tenancy: Amenities: Corner office property; 18,796 SF on four floors with private walled in outdoor patio Stately architecture with detailed moldings, oversized windows and high ceilings Southwest corner of 18th and Massachusetts Avenue, NW Building will be delivered vacant and ready for occupancy Hundreds of retail stores, 40 restaurants and 8 hotels within walking distance

8 Location Overview th Street is located in the most walkable neighborhood in Washington DC WALKER S PARADISE RIDER S PARADISE BIKER S PARADISE Walk Score Transit Score Biker Score Walk Score Walker s Paradise Daily errands do not require a car Transit Score Rider s Paradise World-class public transportation Bike Score Biker s Paradise Excellent bike lanes

9 Location Map metro th Street NW

10 Economic Overview The Washington, DC metropolitan area continues to be one of the best performing economies in the country. It is driven by strong demographics, a diverse employment base fueled by both the private and public sectors, and the lowest unemployment rate in the nation for major metropolitan areas at 3.9% as of October The region with a median household income of $90,149, ranks highest among the nation s 25 most populous metro areas. Incomes in the metropolitan area grew by 34% from 2000 to 2012, compared to just 20.0% nationally. The region also boasts the most educated populations in the nation, with 25.3% of adults ages 25+ holding a bachelor s degree and 23.3% of adults ages 25+ holding a graduate or professional degree. With almost 3.3 million payroll jobs, the DC metropolitan area continues to rank in the top five largest job markets among metro areas, behind New York, Los Angeles and Chicago. Non-farm employment grew by 70,200 in 2016 or 2.3% compared to a national rate of 1.9%. A major contributing factor to the stability in the region is its consistently strong job market, a result of the presence of the federal government and a diverse economy based on technology, construction, healthcare and hospitality industries. contact Doug Damron Senior Managing Director ddamron@ngkf.com Chris Lucey Managing Director clucey@ngkf.com Paul Phillips Associate phillips@ngkf.com