“Bell Corner Shop for sale $2.1M”

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by Prince Of Petworth August 3, 2016 at 2:55 pm 11 Comments

bell
3501 Georgia Ave, NW via loopnet

Thanks to a reader for passing on:

“Its been on the market for over a year…$2.1 might be a little steep.”

3501 Georgia Avenue NW

4,914 SF · Retail For Sale

$2,100,000

Value-add corner retail building. Adjacent secondary retail storefront rental and upstairs 10-room legal rooming house. Future development opportunity with 4,914 additional buildable s.f. as of right.

Park View/Petworth neighborhood, five blocks South of the Petworth Metro Station.

Angry Parakeet

A 10- room legal rooming house? right next to Park Morton? Riff-raff magnet!
GBinCH

$2.1m for this property in this location? I have dreams too…
Kate

$2.1m plus how much in deferred maintenance? That building looks like it’s in rough shape.
- Anonymous
  
  Selling it as a tear down, surely. No developer in their right mind would keep that structure.
  - Kate
    
    I hope you’re right, it is a eyesore as-is! [Insert angry PoPvillager comment about how we don’t need any more ugly luxury apartment buildings here]
Ted

No wonder this stretch of Georgia from Howard to the Petworth Metro is such a dump. Developers and owners are just sitting on the land hoping that someday there will be a huge payoff. The owners have all been looking to lease or sell space for prices that are similar to 14th or H Street. They are sitting on the vacant/decrepit property, and there has been no push by ANC Ward 1 or 4 reps or anyone else in the Bowser administration to push for development. Owners periodically pull building permits to avoid paying their fair share of taxes and wait for someone else to do the hard work and develop the area. Until they are forces to pay the vacant property tax rates, they will just keep the area in shambles. Greedy greedy greedy.
- Cleveland Park runner
  
  Shorter Ted: “How dare people not do what I want them to do with their land!”
  - anonymous
    
    It’s not doing what “I want” it’s more the fact they don’t care for the buildings or land surrounding them, game the system with permit pulling etc…, and have zero interest in improving communities they own in
James

You have to like the property owner is from Maryland whom purchased the property for $610K and is looking to triple their return. Keep on hoping and dreaming.
pru

I don’t know guys. Right on Georgia ave, surely they can add a few stories on there, put in 8-10 $800k condos and a store on the main level. Even a teardown, there’s opportunity for big fat money.
anon

It actually doesn’t sound too out-of-keeping with other retail properties listed on this site.

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