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Listed by Terri Yoon • Mega Realty & Investment Inc
$1,950,000
Est. payment /mo
0.29 Acres Lot
New
1201 MOUNT OLIVET RD NE Washington, DC 20002
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID DCDC2262812
Year Built 1955
Annual Tax Amount $31,580
Tax Year 2025
Lot Size 0.292 Acres
Acres 0.29
Property Sub-Type Retail
Source BRIGHT
Property Description
******Turnkey Cash Flow with High-Upside Mixed-Use Redevelopment******
Zoning: MU-4 (Mixed-Use Moderate Density)
An exceptional, dual-opportunity commercial listing priced at the high-visibility corner of Mt. Olivet Road and Montello Avenue NE.
This offering features a 3,000-square-foot freestanding commercial building paired with the sale of the thriving, turn-key Northeast Supermarket business currently running under fully absentee ownership.
Investors can instantly capitalize on highly consistent, strong operational revenue while securing a premium piece of real estate in one of the fastest-growing commercial corridors in Washington, DC.
--Robust Business Financials & Recent Upgrades--
-The well-established Northeast Supermarket serves as a staple community pillar, functioning as a retail hub for the community for approximately 70 years.
-Capital Improvements: Enjoy immediate peace of mind and minimal deferred maintenance with recent high-ticket infrastructure upgrades, including a brand-new commercial roof and a brand-new commercial cooler system.
-Seamless Transition: The turn-key setup ensures the business remains fully functional from day one of ownership, protecting your cash flow immediately upon closing.
--Zoning and Development Profile--
-Zoning Designation: MU-4 (Mixed-Use Moderate Density).
-Permitted Uses: MU-4 zoning permits mixed-use development, specifically designed to blend multi-family housing with neighborhood-serving retail, office spaces, and service centers.
-Air Rights & Expansion: The property offers incredible "covered land" advantage. You can operate the profitable market until you are ready to build upward, leveraging the neighborhood's moderate-density allowance to develop a lucrative multi-story apartment or condo complex over ground-floor retail.
--Strategic Location & DC City Development Plan Alignment--
-This property is a stellar long-term investment because it is located directly inside the target zone of the District's multi-phase municipal revitalization plans:
--The Ivy City Small Area Plan: Approved by the DC Council, this DC Office of Planning Framework actively guides private and public infrastructure capital directly into this corridor.
The city's master plan prioritizes the expansion of new housing options, active pedestrian-friendly streets, and community-serving commercial retail right along the Ivy City and Trinidad borders.
--Surrounding Growth: Positioned just blocks away from the booming, trend-setting hubs of Union Market and Ivy City, this location is perfectly poised to ride the wave of rapid neighborhood appreciation and population density growth.
Zoning: MU-4 (Mixed-Use Moderate Density)
An exceptional, dual-opportunity commercial listing priced at the high-visibility corner of Mt. Olivet Road and Montello Avenue NE.
This offering features a 3,000-square-foot freestanding commercial building paired with the sale of the thriving, turn-key Northeast Supermarket business currently running under fully absentee ownership.
Investors can instantly capitalize on highly consistent, strong operational revenue while securing a premium piece of real estate in one of the fastest-growing commercial corridors in Washington, DC.
--Robust Business Financials & Recent Upgrades--
-The well-established Northeast Supermarket serves as a staple community pillar, functioning as a retail hub for the community for approximately 70 years.
-Capital Improvements: Enjoy immediate peace of mind and minimal deferred maintenance with recent high-ticket infrastructure upgrades, including a brand-new commercial roof and a brand-new commercial cooler system.
-Seamless Transition: The turn-key setup ensures the business remains fully functional from day one of ownership, protecting your cash flow immediately upon closing.
--Zoning and Development Profile--
-Zoning Designation: MU-4 (Mixed-Use Moderate Density).
-Permitted Uses: MU-4 zoning permits mixed-use development, specifically designed to blend multi-family housing with neighborhood-serving retail, office spaces, and service centers.
-Air Rights & Expansion: The property offers incredible "covered land" advantage. You can operate the profitable market until you are ready to build upward, leveraging the neighborhood's moderate-density allowance to develop a lucrative multi-story apartment or condo complex over ground-floor retail.
--Strategic Location & DC City Development Plan Alignment--
-This property is a stellar long-term investment because it is located directly inside the target zone of the District's multi-phase municipal revitalization plans:
--The Ivy City Small Area Plan: Approved by the DC Council, this DC Office of Planning Framework actively guides private and public infrastructure capital directly into this corridor.
The city's master plan prioritizes the expansion of new housing options, active pedestrian-friendly streets, and community-serving commercial retail right along the Ivy City and Trinidad borders.
--Surrounding Growth: Positioned just blocks away from the booming, trend-setting hubs of Union Market and Ivy City, this location is perfectly poised to ride the wave of rapid neighborhood appreciation and population density growth.
Location
State DC
County Washington
Zoning MU-4
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 15.0
Water Access N
Accessibility None
Total Parking Spaces 15
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District District Of Columbia Public Schools
Others
Tax ID 4052//0174
Ownership Fee Simple
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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