1800 and 1808 Half St SW, Washington, DC 20024

$12,000,000
For Sale
1469640863

Property Details

0 0 0 Commercial

1800 and 1808 Half St SW, Washington, District of Columbia 20024

Description:

Seller wishes to sell the property, together with all improvements, rights and easements located at 1800 and 1808-1824 Half Street, SW; Washington, DC. Consisting of eight (8) Lots (Lots 1, 2, 3, 9, 10, 11, 800 and 803) in Square 664. The total land square footage is approximately 32, 205 Square feet of land consisting of CG/CR Overlay Zoning situated in the heart of Buzzard Point one block from the Potomac River and across the street from the Soccer Stadium Proposed Site. Investment Highlights The Capital Gateway Overlay district allows for bonus density of more than 8 FAR, and possible additional height is available with density transfers under certain circumstances By Right Zoning of CR Permits matter-of-right residential, commercial, recreational and light industrial development to a maximum lot occupancy of 75% for residential use, 20% for public recreation and community center use (up to 40% with Board of Zoning Adjustment approval), and 100% for all other structures, a maximum FAR of 6.0 for all buildings and structures, of which not more than three (3.0) may be used for other than residential purposes, a maximum height of ninety (90) feet for all buildings and structures and forty-five (45) feet for public recreation and community centers. An area equivalent to 10% of the total lot area shall be required at ground level for all new development, and rear yards shall be provided for each residential building or structure. The Capitol Gateway (CG) Overlay District was established to provide use, height, density (including incentives for bonus density and height), combined lot development, and design requirements to ensure an appropriate mixture of residential and commercial uses and suitable height, bulk, and design of buildings. The overlay is applied to the Buzzard Point and Capitol Gateway areas, which are in the southwest and near southeast quadrants of the city, north or west of the Anacostia River. Specific development objectives of the overlay are: to encourage support and visitor-related uses and continued existing industrial uses; to reduce the height and bulk of buildings along the Anacostia riverfront; to require suitable ground-floor retail and service uses along M Street, near the Navy Yard metro; For more information, including design requirements for individual streets and allowable Inclusionary Zoning modifications, see Chapter 16 of the Zoning Regulations. Prime Location next to Proposed Soccer Stadium and one block from Potomac River Current Income of $25,000/month + Utilities and Insurance (Tenant is nightclub called Ziegfeld???s Secrets) PROJECT