Old City #1 · Washington, DC 20002 · District of Columbia County
$2,349,900
2 bd · 3 ba · 4,400 sq ft · $534/sq ft
The short version · by Homeful
This mixed-use corner building at the Starburst Intersection in Northeast DC pairs a Michelin Bib Gourmand restaurant tenant with a top-floor penthouse featuring a hexagonal sunroom and two rooftop decks. A $1,000,000 renovation in 2021 touched everything from the MEP systems to the storefront, producing $156,935 in annual NOI. The ground-floor Triple Net lease runs through 2031, meaning the tenant covers a substantial share of operating costs.
Highlights
Built in 1900 and dramatically transformed through a $1,000,000 modernization completed in 2021, this 4,400-square-foot corner building brings together a celebrated ground-floor restaurant and a light-filled penthouse loft. The renovation reached every layer of the structure: all-new MEP systems, a full basement excavation, a commercial kitchen, new windows, a reimagined storefront, and two rooftop decks added from scratch. The ground floor is home to Daru, an Indian-Nepalese restaurant that holds a Michelin Bib Gourmand award and has expanded with a covered outdoor dining area on-site.
The penthouse is an open-concept loft finished with wide plank white oak flooring, spa-inspired bathrooms with vessel sinks, a kitchen island with quartz countertops, and JennAir appliances. A signature hexagonal sunroom floods the space with light, while two private outdoor terraces and two rooftop decks extend the living area into the open air. Each unit pays its own utilities, and the building sits on a corner lot that gives it presence on two street frontages.
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What we'd want to know before pursuing this home, in plain English.
The price
At $2,349,900, this building comes with a running income stream: $156,935 in annual NOI from a Triple Net lease that extends to April 2031. The tenant covers 61.5% of property taxes, insurance, and trash services, which meaningfully reduces carrying costs. The 2025 assessed value sits at $2,364,190, placing the asking price very close to the current assessment on a building that was last sold in 2016 for $1,100,000.
How fast homes move here
The broader Washington DC market has seen median sale prices move between $710,000 and $729,500 over 2024 and 2025, with sale counts in the 750s to 780s range annually. This mixed-use building operates at a different price point and asset class entirely, so general market pace is less directly applicable here than the specific income metrics and lease terms attached to the property.
Why the location works
The Starburst Intersection is a recognized commercial and cultural hub in Northeast DC, and a corner lot here gives the building visibility from multiple directions. The neighborhood, Old City No. 1, places the property within one of DC's established inner-ring communities. Daru's decision to open a second location nearby signals strong local momentum around this address.
Your next move
Save this listing now so you get an instant alert the moment it goes active. When it does, move quickly to schedule an early walkthrough of both the commercial space and the penthouse. Before you visit, it's worth connecting with an agent who handles mixed-use properties in DC so you can arrive with the right questions about the lease terms and income picture.
The property is assessed at $2,364,190 for tax year 2025, with an annual tax amount of $29,962.
A full modernization replaced all MEP systems, excavated the basement, added a commercial kitchen, built out the top-floor penthouse, installed new windows, reimagined the storefront, and created two rooftop decks.
The building changed hands on May 6, 2016, at a price of $1,100,000.
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