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Foreclosure Auction
1426-1428 Park Road, NW, Washington, DC 20010

RESCHEDULED FORECLOSURE AUCTION – Thursday, February 8, 2024 @ Noon – Held at the front entrance of the Superior Court of the District of Columbia, 500 Indiana Ave, NW, Washington, DC 20001

Opportunity to purchase a well-located commercial property in Columbia Heights.  This mixed-use property is zoned MU-7B and consists of two adjacent urban rowhouses, connected into a single building, with existing retail businesses on the ground and basement levels and residential apartments on the upper level.  According to a third-party report, the building was renovated around 2010 as part of the City’s Streetscape improvements.  

 

The building is three levels, with two stories above ground, plus a basement.  There is an existing restaurant (Los Hermanos) on the ground floor, with a small cell phone and accessories store operating inside it.  A separate entrance on Park Road provides access to the basement, which is occupied by a smoke shop as retail and office space.  The second level consists of two residential apartments (one studio/1 BA and one 1 BR/1 BA) and a commercial space.  The property offers 5,895 SF total of gross building area, of which 3,983 SF is located above grade, and occupies 2,853 SF (0.07 AC) of land.  The basement is 1,912 SF and has full ceiling height (approximately 7’-6” to 8’).

 

CoStar rates the property as a “Walker’s Paradise” (98) and a “Best Location” (91).  The nearby DC USA, 890,000 SF power shopping mall, is anchored by retail giants Target and Best Buy, with CVS Pharmacy, Old Navy, Lidl, New York Sports Club, Marshalls, DSW, and Petco among the many retailers inside.  The mall enjoyed a $149.5M renovation to become a three-level shopping center with underground parking garage.  The property backs up to the Columbia Heights Educational Campus with Bell Multicultural High School and Lincoln Middle School, plus the Powell Recreation Center with playground, basketball court, and tennis courts.

The property is easily accessible via four Metro stations including the Columbia Heights station located one block away, just around the corner across from the DC USA mall, with the Georgia Ave-Petworth, U Street/Cardozo, and Woodley Park-Zoo/Adams Morgan stations each less than 1.5 miles away.  Redevelopment along 14th Street includes the Dance Institute of Washington and the Tivoli Theater, among many others.

 

Nationally recognized educational and medical institutions nearby include Howard University, Children’s Medical Center, and MedStar National Rehabilitation Hospital.  In addition, the National Zoo, Rock Creek Park, Piney Branch Park, and Meridian Hill Park are all located within two miles of the property.

 

This property is being sold pursuant to a Substitute Trustees’ Notice of Sale.  Please do not disturb the tenants. 

 

Terms of Sale:  This auction is being conducted pursuant to the terms of the Substitute Trustees’ Sale Notice.  The auctioneer is offering a 2% cooperating brokerage commission to brokers that register their buyer(s) in accordance with the auctioneer’s broker registration guidelines.  This auction is being conducted by RealMarkets, a CENTURY 21 Commercial New Millennium team. 

 

For more information, please contact Stephanie Young, Real Estate Licensee, RealMarkets, a CENTURY 21 Commercial New Millennium team, 571-223-9775 and stephanie@realmarkets.com or Stephen Karbelk, Real Estate Licensee, RealMarkets, a CENTURY 21 Commercial New Millennium team, 571-481-1037 and stephen@realmarkets.com.

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