1508 14th Street, NW

by | Jan 23, 2020

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1508 14th Street, NW

1508 14th St NW, Washington, DC

  • Size: 7,700 SF
  • Status: Offered for Sale
Offered for sale is a Chipotle anchored 7,700 square foot three-story net-leased core urban retail property addressed 1508 14th Street, Washington, DC 20005. Four tenants occupy the property: Hidden Gym occupies the lower level (1,900 SF), Chipotle occupies the ground floor (2,000 SF), nailsalon occupies the second floor (1,900 SF) and Flow Yoga occupies the third floor (1,900 SF). All leases are NNN and inclusive of rental increases throughout all primary terms and option periods. Chipotle just amended their lease, extending early for an additional 10-years. The offering is a rare opportunity to acquire generational real estate, net-leased to a strong tenant-mix, prominently situated along the 14th Street corridor in the highly coveted 14th Street/Logan Circle submarket of Washington, DC.

Investment Highlights.

  • 100% occupied trophy real estate along the 14th Street corridor – one of the most coveted markets in the country
  • NNN leases: Hidden Gym, Chipotle, nailsaloon, Flow Yoga
  • All leases call for rental increases through primary and option terms – 3% annually or 10% every five-years
  • Anchored by Chipotle; corporate guarantee – responsible for 41% of the overall income
  • Chipotle just extended early, adding an additional 10-years of primary term and three five-year options
  • Nailsaloon just extended early, adding an additional 10-years of primary term and two five-year options
  • Average household income of $147,248 within a one-mile radius of the property
  • $1.8B in total specified consumer spending within a one-mile radius of the property
  • Ideal for a buyer in a 1031 exchange seeking a low management asset

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