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Realty World

Realty World
Property Price: $18,500,000.00
Property Type: Office
Cross Street: 26th Street NW
Lot Size: 8762.00
Status: Pending
Marketing Remarks:

Rare redevelopment opportunity to purchase a five-story urban office building located at 2626 Pennsylvania Avenue, NW in Washington, DC. Exceptionally well-positioned just outside of Georgetown in the West End submarket, this 32,750 SF office building rests on 0.20 acres and has significant residential redevelopment potential. The property offers a prestigious Pennsylvania Avenue address and the building overlooks Rock Creek Park with spectacular views from window lines on three sides, across the bridge from Georgetown. This area will always be valuable and in high demand, and any property that is redeveloped would be considered a trophy location. It is presently owner-occupied by The Salvation Army DC/VA Headquarters. The Salvation Army plans on relocating from this property but will consider a sale/rent back not to exceed 9 – 12 months as they transition to a new location. The building was constructed in 1975 and renovated in 1998. There are five floors of offices with two levels of underground parking garage with 42 parking spaces. The property benefits from immediate access near the end of I-66, Whitehurst Freeway, and K Street while being only five blocks from the Foggy Bottom Metro Station. There is convenient access to Georgetown’s popular restaurants, entertainment, and shopping destinations. Numerous windowed offices and the rooftop offer panoramic views of Washington, DC and the Potomac River. The buyer may consider a light renovation of the building and continue to hold the property while generating income with a new tenant, but the building has many other possibilities for redevelopment under the MU-10, Mixed Use zoning. Redevelopment should be able to get up to ten (10) floors, plus the underground garage levels, with a variance from the DC government. A more in-depth description and additional property details are included in the Offering Memorandum, available through the Listing Agent.

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Realty World

Realty World
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