1336 U Street NW

Washington DC

Investment Summary

KLNB Retail Capital Markets is pleased to offer for sale the fee simple interest in 1336 U St NW, a fully occupied 6,000 SF retail building in the heart of the U Street Retail Corridor. The building is tenanted by Highlight Kitchen & Lounge which is on a new 10 year lease through May-2034 with 3.0% annual base rent increases. The operators just completed a renovation of the building including new build out of interior spaces, upgrading alarm systems, security cameras and WiFi cabling, and new sound system.

Investment Highlights

New ten-year lease with annual rent increases backed by experienced operators

Four floors + basement with glass-enclosed rooftop

Newly renovated interiors including new security system, sound system, and WiFi cabling throughout

Tenant responsible for expense pass throughs providing minimal landlord responsibility

Metro location in vibrant submarket just off 14th Street Corridor

33,000 residents earning $221,000 Avg. HH Income within .5 mile radius

Photo Gallery

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Trade Area

1336 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 1336 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

Demographics

0.5 Mile

1 Mile

2 Mile

Population

32,691

108,368

246,324

Avg HH Income

$221,298

$204,148

$194,337

Proj. Annual Pop. Growth

0.92%

0.02%

0.69%

Brokerage Team

Vito Lupo

Principal

KLNB

202-652-2334

vlupo@klnb.com