The Feldman Group of Marcus & Millichap announced today the sale of 2104 18th Street NW in the Adams Morgan neighborhood of Washington, D.C. The 2,700-SF asset sold for $1,275,000.

Josh Feldman, First Vice President of Investments, of the Feldman Group exclusively listed and sold the property on behalf of the owner. The asset was purchased by Foxhall Partners, who plan to reposition the property. “The new owners signed the retail tenant to a new 10-year lease, and plan to renovate the two residential units as they roll over,” explains Feldman. The seller had owned the property for 34 years at the time of the sale, and leased the retail unit to the popular Meeps Vintage Clothing in 2006.

The property, only on the market for 37 days, generated 6 offers and closed at $35,000 above the list price. “Adams Morgan remains a strong market, despite the emergence of other nearby commercial corridors,” says Feldman. “It’ll be further strengthened by projects like the new LINE Hotel, and other planned mixed-use developments nearby.” Feldman has closed multiple high-profile transactions along the 18th Street corridor in Adams Morgan, including the former Millie & Al’s building and what would become the Jack Rose Dining Saloon.

About The Feldman Group of Marcus & Millichap

The Feldman Group’s main focus is on the marketing and sale of urban infill properties spanning retail, office/industrial and mixed-use product types. The Feldman Group closes dozens of deals each year and more than any other competing brokerage company in the area’s private client market; these unique assignments often include assets with historic designations, adaptive re-use, as well as covered land plays and development sites.

About Marcus & Millichap (NYSE: MMI)

With over 1,700 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 9,000 transactions in 2016 with a value of approximately $42.3 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. To learn more, please visit: www.MarcusMillichap.com.