8 P St NE

The Broad Branch Group identified this commercial property off market in 2016. The company saw significant potential in the land due to a recent zoning change as well as the possibility of assembling the land with adjacent property owners. The property had been previously listed for $1,500,000 unsuccessfully. Broad Branch saw the development potential, went under contract for $1,575,000 and subsequently sold the property to the Ronald Paul Companies, (the owner of 1 Florida Ave, an adjacent property) for $2,250,000. The company put together a development plan demonstrating the significant value creation that assembling 8 P street with 1 Florida Ave would create. This subsequently enabled the Ronald D. Paul Companies to sell the assembled site for $25,500,000, nearly doubling their investment.