1359 U Street NW

Washington DC 20009

Investment Summary

1359 U St provides an investor the exciting opportunity to acquire a prime asset at the intersection of the U and 14th Street Corridors in Washington DC. The asset is a +/- 2,100 SF two-story + mezzanine building that has a new ten-year lease with Hashtag Lounge. Hashtag is owned by an experienced operator who has several other successful bar/nightclub concepts nearby on the U Street Corridor demonstrating his experience and profitability in the area. Additionally, the lease has 3% annual base rent increases providing an investor steady and increasing cash flow over time.

Investment Highlights

New ten-year lease with annual rent increases backed by experienced operator with multiple locations in the corridor

Two-stories + mezzanine with building upgrades invested by new tenant

Tenant responsible for expense pass throughs providing minimal landlord responsibility

Metro location in vibrant submarket just off 14th St Corridor

$33,000 residents earning $221,000 average household income within 0.5 mile radius

Adjacent to future Frank D. Reeves Municipal Building redevelopment

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Trade Area

1359 U Street is located just off the intersection of 14th & U Street NW – well positioned at the cross section of the U and 14th St Corridors. The property has unmatched accessibility to the U-Street Metro Station and sits within a vibrant residential, retail, and dining scene. The property is a 3-minute walk from the metro station, which services the yellow and green lines connecting Maryland and Alexandria, VA to Washington DC. The U-Street Metro Station is two stops from Gallery Place Chinatown, serving as a transfer point for the red line and adding further connectivity to the Maryland suburbs.

14th & U Street

As a neighborhood with destination retail, food & beverage, and entertainment – the 14th & U Street Corridor is home to four Michelin-starred restaurants and five grocery stores including Trader Joe’s and two Whole Foods, while offering unbeatable connectivity to Downtown and the dense residential in the surrounding market. Since 2015 –within a ½ mile of 1359 U Street, 3,787 residential units have been delivered with 274 additional units under construction and 428 units proposed for future development. A booming, land constrained neighborhood, 14th & U Street is one of the most attractive locations for young, wealthy renters that are seeking to be at the intersection of it all – dining, entertainment, and proximity to Downtown office