733 Virginia Ave SE Miles Glass

Location: Located on Capitol Hill at the Navy Yard area at M St & 8thStreets SE on the Potomac River front. t is located on the corner of 8th and Virginia Ave. which is part of Historic Barracks Row Main Street Development.

Sale Price: $5,500,000

Gross Building Area: 6,924 SF on 2 Levels, built 1963

Land Area: Total Land Area 14,991 SF
Lot 814 4,347 SF Vacant Land - 711 Virginia Ave SE
Lot 815 1,824 SF Vacant Land - 719 Virginia Ave SE
Lot 823 8,820 SF Masonry Structure - 733 Virginia Ave SE

Tax Lot & Square: Square 906 Lots 814, 815, 823 Tax Assessment Year 2010
Lot 814 Tax Year 2010 $1,564,920
Lot 815 Tax Year 2010 $ 656,640
Lot 823 Tax Year 2010 $3,228,260

Zoning: ES/C-3-A Part of 8th Street Overlay District & Capitol Hill
Historic Neighborhood
FAR 3.0 Ht 45’

733 Virginia Ave SE site ( lots 814, 815 and 823, approx. 14,991 SF of land) is for sale at $5,500,000
Lot 814 4347 SF
Lot 815 1824 SF
Lot 823 8820 SF

The following includes information about other properties on Square 906. The other lots described are not included in this sale price. The other lots possible to assemble are:
Square 906: Lot 12 2161 SF
Lot 13 1575 SF
Lot 14 2524 SF
Lot 824 2250 SF
Lot 825 3450 SF

Those lots, if assembled, would equal approx 11,960 SF of ground in Square 906, plus Miles Glass 14,991 SF possible potential development (26,451 SF). The property presently contains a combination of vacant land, vacant buildings townhouses. In total these lots account for approximately 60% of the entire trapezoidal block. The lots are just South of the freeway near the Navy Yard bordered by Virginia Ave, 7th & 8th Sts, and L St SE, in the new sought-after 8th Street Corridor.

Any plans for redevelopment of the property would have to be reviewed by the DC office of Historic Preservation (HPRB). Presently, the Floor Area Ratio (FAR) for the land is 3.0 with a height restriction of 45 feet. The property is zoned ES/C-3-A and is part of the 8th Street Overlay District. There are 3 distinct owners of the properties

Subject Property– Lots 814, 815, 823 (14,491 SF):
The first group is the Trust U/W of Walter Miles Jr. ( Miles Trust); by Patricia Murphy and Barbara Miles, Trustees. The land owned by the Miles Trust formerly housed their family business, "Miles Glass Company". Their lots 814, 815, 823, include the alley controlled by their ownership of lot 823. The total square footage of their ground is 14,991.

Lots 13, 14, 824, 825 (9799 SF):
The second group is G properties, an entity controlled by Pierre Gaunoux and his son, Alan G. Properties, controls lots 13, 14, 824, and 825, totaling approximately 9799 of ground. Two of these lots are mostly vacant ground with an out-building along the 8th Street side. The other two lots are straddled by a vacant brick building, built 1925. The seller reports that the interior of this structure is unsafe to tour.

Lot 12 (2161 SF) :
The town house, 710 L Street SE is owned by Jan Cammarata. It sits on approximately 2161 SF of ground. She has been living in this home and running her travel agency business from it. She has recently vacate the property and intends to lease her home to a commercial tenant for one year. If leased, the lease will be assignable to an acquire and will contain a redevelopment clause, permitting the assignee to terminate the tenant’s leasehold interest in the space, with 90 days written notice, in the event that the assignee has redevelopment plans that need to be implemented.

Zoning Description
C-3-A Permits matter –of –right development for major retail and office uses to a maximum lot occupancy of 75% for residential uses, a maximum FAR of 4.0 for residential and 2.5 FAR for other permitted uses and a maximum height of 65 feet. However, the ES, (Eighth Street, SE Neighborhood Commercial) is an overlay which controls the density and height for Square 906 and the lots within that Square

ES 8th Street SE Commercial Permits requirements for business development on certain C-3-A zoned properties along 8th Street near the North entrance to the Navy Yard. The maximum permitted height is 45 feet, and the maximum permitted FAR is 3.0 Linear street frontage restrictions apply to certain eating and drinking establishments.

All information deemed reliable but not guaranteed.