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Troubled Dollar + Food Grocery For Sale at 5th and N St, NW

by Prince Of Petworth May 9, 2017 at 3:30 pm 18 Comments

1245 5th Street NW

A reader writes:

“this shady corner store at the corner of 5th and N NW got shut down over a year ago for selling illegal drugs etc and it would be great to get this turned over to somebody that would actually put something nice in.

I’m assuming the high price is due to a commercial zone that would get grandfathered in. In any case it’s been a blight on the neighborhood and would be great to get something nice in there….like a sandwich place or coffee shop type thing.”

The MRIS listing says:

“Needs to be seen, diamond in the rough. strong potential. Can be converted into condos or use the first floor as store front”

It’s currently listed at $1,299,999.

dollar corner

  • anon29

    The sandwich shop would only need to sell 129,999 $10 sammies to break even! Sounds like an amazing business opportunity!

    • LedroitTiger

      Probably more like 129,999 $15 sangwiches. Overhead’s a bitch.

    • Now I want a sandwich

      Your Taylor Gourmet’s of the world aren’t buying their space, they are paying rent.

      • anon

        Pretty sure Taylor Gourmet does buy spaces. At least sometimes.

  • Elkhaert

    That pricing seems… aspirational to me. But then again, I haven’t ever bought commercial real estate.

    • Anon

      Agreed. Tha price would make more sense on a busy corner, but this isn’t it.

    • Thunder

      Sometimes property is over priced to avoid paying the vacant property taxrate. It’s a loophole that has left H Street with a lot of trashy property. In other words, the owner may not want to sell the property.

      • Sydney

        See Hoagie House, one block away, to the east, at 4th and N NW. Vacant, abandoned for at least the last five years, but just enough pretend action to keep it off the proper tax rolls. PoP covered it about two years ago — which gave us hope, then.

      • textdoc

        Yeah, that sounds very plausible — avoiding the “vacant” tax rate by listing the property for sale, but using an exorbitant asking price rather than trying in good faith to sell.

  • Truxton Thomas

    A little off topic, but I’m not sure I’ve ever seen accurate school information on an MRIS listing when I’ve taken the 30 seconds to check.

    • Marty

      Often they don’t even try. It just says “Call school board”

      • Truxton Thomas

        Ha! I’d actually prefer that to incorrect information.

  • anonymouse_dianne

    I was going to say in RRR – Although its still blacked out, there is a COMING SOON! sign on Fast Gourmet. Any word?

  • crin

    At least one person in this town thinks it’s easy to knock down a building in a historic district.

  • PetworthGuy

    If this can be converted into 5 or more condos, $1.3M is not a ridiculous price. Might have a lead on the project – will keep the pop community in the loop if I hear more.

    • mmm

      It’s totally ridiculous. The current owner bought it for $620k in 2015. But if someone wants to pay that much for the dump, more power to them. Def would like to know how it turns out.

      • PetworthGuy

        Previous purchase price is never a crutch to lean on, especially in transitioning DC neighborhoods. Keep an eye on this property over the next two years and we’ll see ;)

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