The Feldman Group of Marcus & Millichap announced today the sale of 1338 H Street NE along the H Street Corridor of Washington, D.C. The 1,656-SF asset sold for $835,000.

Josh Feldman, First Vice President of Investments, and Ian Ruel, Investment Associate, of the Feldman Group closed the off-market transaction. The property was purchased by The 11th Property Group, which plans to develop the asset into a mixed-use project. The previous owner operated a barbershop at the property since 1999. “This sale proves that for developers looking for projects along H Street NE, there are still opportunities as long-term owner/operators move on to the next phases of their lives,” explains Feldman.

The 11th Property Group had already closed on the property next door at the time of the sale. The Feldman Group was able to facilitate the acquisition of 1338 H Street NE so that they could increase the size of their project.

About The Feldman Group of Marcus & Millichap
The Feldman Group of Marcus & Millichap is comprised of First Vice President of Investments Josh Feldman, Senior Investment Associate Benjamin Wilson, and Investment Associates Ian Ruel, Ryan Smith, and Lee Gochman. The Feldman Group specializes in the marketing and sale of urban infill properties including retail, office/industrial and mixed-use product types in the Washington, D.C. area.

About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.