533 8th Street SE

The subject property’s close in "Eastern Market" location in prestigious Capitol Hill is
desirable for retail and office. Eastern Market, the city’s oldest public market is an anchor point of the areas retail businesses and is the Heart of the Hill. The site is located within 3 blocks of Eastern Market, 2 blocks from the Eastern Market Metro Station, and within 7 blocks of the U.S. Capitol and Library of Congress. The site benefits from the proximity to the US Capitol and architecturally distinctive residences. 8th Street SE is Barracks Row Main Street recently infused with millions of dollars for preservation and revitalization. The marine commandants private residence is adjacent to the parade grounds at the 8th Street SE and G Street SE intersection. The continuation of 8th Street to M Street SE includes the Navy Yard complex.

Legal Description: Square 0903 Lot 0839

Site Area: 2852 square feet of land

Gross Building Area: 4973 sf
                                      2852 sf = 1st Floor
                                      1271 sf = 2nd Floor
                                      850 sf   = Basement
                                      as per appraisal

Zoning: CAP/C-2A with Capitol Interest Overlay District

Real Estate Taxes:   Tax Year 2010
                                      Land:                 $ 604,620
                                      Improvement: $ 305,570
                                     Total:                 $ 910,190

Annual Real Estate Taxes:                 $ 14,147.92
                                                                $ 1365.28 (BID)
                                                                 $ 15,513.20 Total

Lease Information:
1st floor tenant (including basement) is Duron Paints at $4,251 monthly/ $51,012 annually. 1st floor tenant pays own gas and electric. There may a DC vault rental fee. Lease option extended 12/31/2014 at $60,000 annualy or $5,000/monthly fixed for 5 years plus 71% of the property taxes,utilities,repairs and maintenance paid by tenant.
2nd floor was owner occupied as office/storage.

Expenses: Property Tax: $14,147.92
                    Bid Tax:          $1365.28
                    Insurance:      $1432.
                   Utilities :           $795
                   Total:               $17,741.38 Approximately

Property Description:

The brick structure is circa 1908, 2 stories with a partial basement. The building offers 25' street frontage on 8th Street SE. The interior walls are brick and drywall with acoustical ceiling tile. Floors are tile and hardwood. The 1st floor (2,852 SF) offers an entry area, and open floor/display area, 1 office and 1 half bath. There is a single-zoned gas forced air system for heating, and CAC. The 2nd floor (1,271 SF) has gas hot water radiator heat and window AC units. There is one stairwell. There are 5 rooms, a kitchenette and full bath. The 2nd floors needs rehab. The partial basement ( 850 SF) is unfinished and currently utilized for storage.