Marcus & Millichap is pleased to exclusively represent the owner of 2537 Pennsylvania Avenue SE, a MU-4 zoned development opportunity located on a 0.21-acre parcel in the Hillcrest subdivision of Washington, D.C.
This site presents a compelling opportunity to develop a 28,000± square foot mixed-use building consisting of 30 residential units and ground-floor retail, deliverable as a matter of right. Upon stabilization, the project offers the potential to generate over $1.1M in annual gross rental income based on projected performance. The property is strategically positioned along Pennsylvania Avenue SE, a major commuter corridor undergoing continued public and private investment. It falls within Mayor Bowser’s Pennsylvania Avenue East Small Area Plan, which outlines a long-term vision for retail activation, housing growth, and corridor revitalization. Additionally, the site is located within a designated Opportunity Zone, offering potential tax advantages for investors, and along the District’s “Great Streets” corridor, which provides grant funding opportunities for retail improvements.
Situated within the Hillcrest neighborhood, one of Southeast D.C.’s most established and sought-after residential communities, the property benefits from strong neighborhood fundamentals, proximity to major employment centers, and continued development momentum throughout the surrounding corridor. The site offers convenient access to the U.S. Capitol, Navy Yard, and the St. Elizabeths West Campus, home to the Department of Homeland Security.
The location is well-connected via multiple transportation options, including nearby Metrorail stations, major thoroughfares such as I-295, I-395, and Suitland Parkway, as well as Capital Bikeshare access, enhancing its appeal for future residents and retail users alike.
Lorenzo Wooten
Marcus & Millichap
