2316 Rhode Island Avenue NE

Feldman Ruel is pleased to offer for sale 2316 Rhode Island Avenue NE, an excellent opportunity for an investor or owner-user at a compelling price point. The subject property underwent a full interior and systems renovation in 2016 and will be delivered vacant at closing, allowing for immediate occupancy with minimal additional improvement expenses. 2316 Rhode Island Avenue NE benefits from its location along the heavily trafficked Rhode Island Avenue NE corridor (U.S. Route 1), which carries approximately 21,860 vehicles per day, and benefits from a rear curb cut providing potential for rear on-site parking. The subject property is zoned MU-4, permitting a wide range of by-right uses including retail, office, multifamily, and hospitality. MU-4 zoning also allows for additional density, enabling the existing building area to be expanded to more than twice its current size. The 2316 Rhode Island Avenue NE is situated in the Woodridge neighborhood, a submarket experiencing significant development momentum. Within a one-mile radius, approximately 5,964 multifamily units and 469,800 square feet of retail are either proposed or currently under construction.