Address
2619 Evarts Street NE Washington, DC
Price
$ 3,069,900
Property Attributes
  • MLS#DCDC461392
  • TypeCommercial
  • CountyWASHINGTON
  • CityWashington
  • Zip20018
  • Style
  • Year Built1966
  • Taxes12897
  • Price$ 3,069,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage8040
  • Lot Size7,405 SqFt
Listing Provided Courtesy Of:
Century 21 New Millennium
Property Description

Fully-leased commercial kitchen in Northeast Washington, DC. Built in 1966, the property is built out as a health department certified, commercial kitchen with over $1M in improvements including a new HVAC system and upgraded water, gas, and electrical service to accommodate existing and future equipment. The TasteLab has approximately 8,000 SF of usable cook and prep space complete with a double-sided hot line with gas ranges, stock pot burners, double stack ovens, grills, and broilers. The space has 2 walk-in refrigerators and a walk-in freezer (comprising approximately 800 SF), a full scullery room with a commercial dishwasher, and approximately 500 SF of individually locked dry storage rooms. All furniture, fixtures, and equipment, including commercial stand mixers, immersion blenders, robot coupe, deli slicers, and common kitchen equipment, i.e. pots and pans, are the property of the seller and shall convey with the sale. The receiving refrigerator is conveniently located by the loading dock, and the property~s wide hallways are able to accommodate pallets, making loading and unloading easy, as well as additional storage. The property also has approximately 800 SF of office space on 2 levels with attractive murals painted by local artists. The entire property is leased, jointly and severally, to two, venture-backed tenants with approximately 3 years remaining on the initial lease term with one 3-year renewal option. Tenant A is a meal delivery company that provides healthy meals directly to customers. Tenant B is a catering company with large institutional contracts, specializing in breakfast and lunch foods available in coffee shops and grab-n-go spots in the DC metro area. Designed by a kitchen consultant to optimize operations for large food businesses, the TasteLab was originally operated as a ~food business incubator,~ similar to Union Kitchen. Short-term license agreements provided local food entrepreneurs, including caterers, personal chefs, bakers, chocolatiers, beverage makers, snack makers, etc., with access to its full, commercial kitchen; lowering barriers to entry with lower price structures and not requiring equity in the businesses operating in its space. At its peak, the TasteLab hosted over 100 food-related businesses with revenues of over $60k/month. With its mix of world-renowned chefs and adventurous eaters, the District is well known for its thriving food scene. This fact should contribute to strong, increased demand, which combined with the property~s valuable, existing infrastructure, makes this a solid investment opportunity with significant upside potential and a high likelihood of value appreciation.

Price History
3/9/2020 Listed $3,249,900
7/1/2020 6% - $3,069,900

General Features

Accessibility None
Business Type Other
Construction Materials Brick
Cool Fuel Other
Cooling Central A/C
County WASHINGTON
Heating Heat Pump(s)
Legal Subdivision WOODRIDGE
New Construction No
Ownership Fee Simple
Possession Other
Price Per Sq Ft 381.83
Property SubType Industrial
Property Type Commercial Sale
Property Use Investment
Real Estate Owned Y/N No
Sewer Public Sewer
Tax Year 2019
Vacation Rental Y/N No
Water Access Y/N No
Zoning PDR-1

Interior Features

Central Air Y/N Yes
Clear Span Ceiling Height 18' to 24'
Heating Fuel Other
Heating Y/N Yes
Hot Water Natural Gas

Exterior Features

Building Area Total 8040.00
Car Parking Spaces 8
Lot Size Acres 0.17
Lot Size Source Assessor
Lot Size Square Feet 7600.00
Navigable Water Y/N No
Soil Types Unknown
Total Parking Spaces 9
Type of Parking Parking Lot, On Street
Water Oriented Y/N No
Water Source Public
Water View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 20018

Price
AVG $1.44M
$3.07M
Taxes
AVG $9,799
$12,897
Visits
AVG 31
12
Year Built
AVG 1944
1966
Walkscore
AVG 73
58
Data Provided by Walkscore ® not using MLS data

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