Washington, D.C. - 1132 19th Street NW - Casa De Montecristo

Description:

• 9+ years remain on this corporate lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 3% annual rental increases starting April 2027, increasing NOI and hedging against inflation
• Casa De Montecristo is a premier, modern cigar store featuring a
large selection of premium cigars as well as premium smoking cigar accessories
• Today, there are 23 Casas across the USA, including company-owned stores and licensed-based partnerships with some of the top established premium cigar retailers in the country
• 1132 19th Street is one of only 5 establishments in Washington D.C. with a license that allows smoking on the premises
• The lease carries a corporate guarantee from JR Cigars, the world’s largest distributor and retailer of premium cigars
• Very strong sales and private club membership
• Massive air exchange and air filtration system installed in 2018
• Tenant pays for CAM, taxes, insurance, and all maintenance and repairs
• Landlord responsibilities limited to structure & roof replacement
• Ideal, low-management, depreciable investment for a passive investor

• Casa De Montecristo is strategically fronting 19th Street NW, averaging 12,600 vehicles passing by daily
• Located in the heart of the Golden Triangle CBD (K Street, DuPont Circle, Connecticut Ave)
• 33 million square feet of office space
• 85,000 daytime workers
• Walking distance to four Metro stations (Farragut North, Farragut West, Foggy Bottom and DuPont Circle)
• Avg. Ridership (Weekday / Weekend): Farragut North 24,462 / 7,291, Farragut West 23,399 / 7,204, DuPont Circle 20,671 / 17,713
• Full building and systems renovation in 2016
• Massive air exchange and air filtration system added in 2018
• The Golden Triangle includes seven parks, a wide array of retail businesses, nearly 2,000 hotel rooms, and thousands of firms and organizations
• Events in Farragut Square bring music, fitness, and movies outside for all to enjoy, and the Grow Golden pop-up program brings additional small businesses to the area
• A project at 1111 20th Street NW will convert an existing 185,000 SF office building into a Class-A residential development with 12,000 SF of ground-floor retail space.
• Nearly 400,000 residents and 776,000 employees support the trade area