Washington, DC 20020,1916 MARTIN LUTHER KING JR AVE SE
Washington, DC 20020,1916 MARTIN LUTHER KING JR AVE SE
Washington, DC 20020,1916 MARTIN LUTHER KING JR AVE SE
$25,000
Est. payment /mo
$19,000
31.6%
Est.Price: ?

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690 SqFt
SOLD DATE : 11/15/2024

Key Details

Sold Price $25,000

Property Type Commercial

Sub Type Retail

Listing Status Sold

Purchase Type For Sale

Square Footage 690 sqft

Price per Sqft $36

MLS Listing ID DCDC2161786

Sold Date 11/15/24

Originating Board BRIGHT

Year Built 1962

Annual Tax Amount $2,882

Tax Year 2023

Lot Size 1,393 Sqft

Acres 0.03

Property Description

The business opportunity at 1916 Martin Luther King Jr Avenue in Washington, DC, is a well-established carryout restaurant generating a steady monthly revenue of $20,000 to $30,000. This suggests strong local demand and potential for growth, particularly in a high-traffic area. Key details of the business are:

Rent: $4,500 per month, a manageable expense compared to revenue, allowing for healthy margins.
Equipment: The property comes equipped with a full-sized hood and range, essential for preparing a wide variety of cooked meals, increasing the versatility of the menu.
Location: Situated on a busy avenue, the restaurant likely benefits from high visibility and foot traffic, making it ideal for a quick-service or takeout-focused business.
This opportunity may appeal to entrepreneurs looking to enter the food service industry with an established cash flow, or those seeking to expand an existing brand in Washington, DC. With a strong revenue-to-rent ratio and fully-equipped kitchen, it presents a promising foundation for success.

The redevelopment of the Anacostia neighborhood in Washington, DC, has been a transformative process aimed at revitalizing one of the city's most historic areas. Anacostia, once known for its vibrant history and close-knit community, faced decades of economic stagnation and underinvestment. In recent years, however, there has been a concerted effort to improve infrastructure, housing, commercial spaces, and public services in the area, bringing new opportunities and challenges to the community.

Location

State DC

County Washington

Zoning MU-7B

Interior

Hot Water Natural Gas

Heating Central

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District District Of Columbia Public Schools

Others

Tax ID 5769//0869

Ownership Leasehold

SqFt Source Assessor

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Kenn B Blagburn • DC Real Property,LLC
Bought with Unrepresented Buyer • Unrepresented Buyer Office

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agent

Bob Gauger

+1(240) 286-4447

Broker Associate | License ID: 312506

Broker Associate License ID: 312506

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