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Nobu, Washington, D.C.

Nobu

Price $19,212,000
Cap Rate 5.00% Return
NOI $960,569
Lease Term 20 Years
Lease Type NNN, With Tenant Responsible For Taxes, Insurance, And Maintenance
Rental Increases 2.5% Annual Rental Increases
Year Built 2017
Building Size 13,211 SF
Lot Size 0.3 acres (13,068 SF)
Status Available
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

HIGH-QUALITY, SINGLE TENANT ASSET
» New 20-year NNN lease with one five-year option
» 2.5% annual rental increases throughout full term
» E-commerce resistant concept and experiential dining
» Internationally renowned brand with 41 locations worldwide
» Potential upside to collect additional percentage rent participation in gross sales of restaurant

UPSCALE WEST END NEIGHBORHOOD
» Irreplaceable ground-level retail at base of luxury residential condominium with convenient access for area residents and visitors
» Superior demographics, with an average household income of $154,713 within one mile and a population of 786,376 within five miles
» The West End neighborhood boasts the city’s most upscale restaurants, posh residences, and world-class hotels
» 3,000 hotel rooms in surrounding area: The Four Seasons, Fairmont, Ritz Carlton, Park Hyatt, and The Watergate

CENTRAL D.C. LOCATION
» Proximity to world-renowned universities: Georgetown, George Washington, American, and Hopkins in Baltimore
» Just over a mile from the White House—which receives approximately 6,000 visitors a day—and two miles from the National Mall, visited by more than 25 million people each year
» Within walking distance of George Washington University—the largest institution of higher education in D.C., with an enrollment of approximately 28,000 students—and the 385-bed George Washington University Hospital, which employs over 2,300 healthcare professionals and is visited by 450,000 people annually
» A short drive from Amazon’s HQ2, the site Amazon has chosen for its East Coast headquarters, which is expected to accommodate 25,000 new employees upon completion



Property Description

2525 M Street Northwest, (“The Property”), is the retail portion of the commercial unit within the 2501 M Residences located in the West End submarket of Washington D.C. The commercial space within this contemporary building recently underwent a stunning transformation to 59 luxury residential condominiums plus ground floor restaurant space. Previously, this 100,000-square-foot office property was occupied by American Association of Medical Colleges. The residences now feature ultra-luxury one- and two-bedroom residences ranging from 820 to 2,300 square feet (1,500 average), appointed with floor-to-ceiling windows and private outdoor spaces. Condos in the building sell for $1.1 to $3.1 million. Amenities in the building include 24-hour staffed services, landscaped rooftop terrace, including grilling and entertaining spaces, fitness center and yoga studio, private portecochere drop-off, valet parking, clubroom with bar and room for up to 30 guests, catering kitchen, private meeting space and resident lounge. Residents are also steps from Foggy Bottom and Dupont Circle Metro stations, plus numerous area attractions, including Georgetown, C & O Canal Bike Trail, Dumbarton Oaks Park, Rock Creek Park, fine dining, museums, the Kennedy Center, and more.

The property benefits from its prime location near D.C.’s center. The property is just over a mile from the White House—which receives approximately 6,000 visitors a day—and is two miles from the National Mall, visited by more than 25 million people each year. Additionally, the property is within walking distance of George Washington University—the largest institution of higher education in D.C., with an enrollment of approximately 28,000 students—and the 385-bed George Washington University Hospital, which employs over 2,300 healthcare professionals and is visited by 450,000 people annually. Some of the D.C. area’s main centers of employment are close to the property, and 749,912 daytime employees work within a five-mile radius. Additionally, the property is approximately a ten-minute, five-mile drive from the site Amazon has chosen for its East Coast headquarters, which is expected to accommodate 25,000 new employees upon completion. Finally, the property is supported by a large residential customer base with affluent demographics; the average household income within one mile of the property is $154,713, and 786,376 residents (with an average household income of $137,637) live within a five-mile radius.

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