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Former Republic Gardens Space For Lease on U Street

by Prince Of Petworth — August 26, 2013 at 4:00 pm 15 Comments

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The former Republic Gardens is located at 1355 U Street, NW. The listing says:

“Once known as Republic Gardens nightclub. Almost at the intersection of 14th & U. Tremendous potential. MRIS tax record posts incorrect measurements for bldg.Near newest condos, apartments, restaurants, gov. offices as well as night life & entertainment.High traffic & visability. Small Bsmt. Leased as is & triple net. Bldg gross 7565 w/ small basements.”

Asking price is $16,500/Mo. Last year they were asking $19,000/Mo.

  • Anonymous

    will cost about that much to eliminate the urine smell.

  • Anonymous

    It’s strange how so many of these great old spaces, especially on U Street, could sit empty for so long.

    • Alan

      Not that strange considering the price tag!

  • annonny

    hey commercial real estate brokers – what’s “triple net”?

    • Anon

      It means that when you rent the building, you get only the 4 walls and a roof. And some times not even that. Real estate taxes, maintenance and insurance are on you.

      • ^correct… maintenance/utilities

      • The Dunkin Donuts around the corner got closed for unpaid taxes just last month… I’m pretty sure there’s a pretty big tax bill sitting around waiting for the new tennant. Beware…

    • Anon

      It means that when you rent the premises you only get 4 walls and a roof — and sometimes not even that. All costs associated with the building are your responsibility, including real estate taxes, insurance and maintenance (even major systems such as plumbing and HVAC).

      • Anon

        Crap, sorry about the double reply. My browser crashed as I was posting and I didn’t think it went through.

        • annonny

          no worries, thanks! any guesses about how much all of that (taxes, maintenance, insurance, etc.) can add to the fixed costs of running a business? I was a bit blow away by the $16,500 monthly rent bill, but now suspect anybody moving into this place would need to gross $50K/month or more to make a business work there!

  • Anonymous

    end of an era….

    • Anonymous

      jeez. that era ended a long time ago actually.

  • Cspk

    Strange that they waited so long. Also strange that 1357, which I believe is owned by the same person sits there unused.

  • spirit equality

    What about State of the Union next door?

    • Anonymous

      *crickets*

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