Pupatella Restaurant - Washington, D.C. | 301 Massachusetts Ave NE
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Pupatella Restaurant - Washington, D.C. 301 Massachusetts Ave NE
4,154 SF Retail Building Washington, DC 20002 £2,747,004 (£661/SF) 6.25% Net Initial Yield
Investment Highlights
- The Smithsonian Postal Museum, Senate Fountain, U.S. Capitol, Library of Congress, Capital One Arena, and more are all within walking distance
- The property is less than a mile from Eastern Market, D.C.’s oldest market that attracts 500,000 annual visitors
- The neighborhood averages a daytime population of 75,900+
- Strategically located at the hard corner intersection of Massachusetts Avenue and 3rd Street, averaging a combined 30,300 vehicles passing by daily
Executive Summary
• Recent lease extension signed extending the lease term through April 2034
• 9+ years remain on lease with an additional 2 (5-year) option periods to extend
• Features scheduled annual rental increases throughout the initial term
• Fee Simple fully depreciable asset
• Originating as a food cart in 2007, Pupatella has quickly become a household name for Neapolitan Pizza throughout the Washington, D.C. region
• There are currently 10 established Pupatella restaurants with an additional location opening in Maryland soon
• Strategically located at the hard corner intersection of Massachusetts Ave and 3rd St, averaging a combined 30,300 vehicles passing by daily
• The 5-mile trade area is supported by over 795,900 residents and 922,800 employees
• Residents within 1-mile boast an affluent AHHI of $197,911
• 9+ years remain on lease with an additional 2 (5-year) option periods to extend
• Features scheduled annual rental increases throughout the initial term
• Fee Simple fully depreciable asset
• Originating as a food cart in 2007, Pupatella has quickly become a household name for Neapolitan Pizza throughout the Washington, D.C. region
• There are currently 10 established Pupatella restaurants with an additional location opening in Maryland soon
• Strategically located at the hard corner intersection of Massachusetts Ave and 3rd St, averaging a combined 30,300 vehicles passing by daily
• The 5-mile trade area is supported by over 795,900 residents and 922,800 employees
• Residents within 1-mile boast an affluent AHHI of $197,911
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,154 SF
Building Class
C
Year Built/Renovated
1890/2024
Price
£2,747,004
Price Per SF
£661
Net Initial Yield
6.25%
NOI
£171,700
Tenancy
Single
Number of Floors
3
Building FAR
3.29
Land Acres
0.03 AC
Zoning
MU-26 - MU-4 / CAP / CHC:
Capitol Hill Commercial Mixed-Use Zone
Parking
2 Spaces (0.48 Spaces per 1,000 SF Leased)
Frontage
Walk Score ®
Walker's Paradise (94)
Transit Score ®
Rider's Paradise (90)
Bike Score ®
Biker's Paradise (97)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0782-0020 | Improvements Assessment | £1,437,910 |
| Land Assessment | £315,129 | Total Assessment | £1,753,039 |
PROPERTY TAXES
Parcel Number
0782-0020
Land Assessment
£315,129
Improvements Assessment
£1,437,910
Total Assessment
£1,753,039
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Rick Fernandez -
SRS Real Estate Partners
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Pupatella Restaurant - Washington, D.C. | 301 Massachusetts Ave NE
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