DC Cash-Flowing Office & Warehouse

gross ann. return*
17 mo.
term remaining
Cash Flowing to Investors
Current Ann. Return 7.0%
Accrued Ann. Return 6.0%
Gross Ann. Return* 13.0%

Investment Details

Current Ann. Return 7.0%
Accrued Ann. Return + 6.0%
Gross Ann. Return* 13.0%
Term Remaining 17 of 36 mo.
Min. Investment $5,000
Investment Size $2,650,000
Underlying Security Preferred Equity

Investment Summary

This is an opportunity to invest in the acquisition of a 72k SF cash-flowing flex office & warehouse property located next to the Rhode Island Ave Metro Stop (Red Line) in Washington, DC. The property is currently 65% occupied by the WEDJ Charter School, which opened there more than 10 years ago.

Key Deal Points

Highly Desirable Location Next to Metro Stop

The property is located next to the Rhode Island Avenue Metro Station (Red Line), which is now accessible via a newly built pedestrian bridge over the train tracks. The property is only two stops from the heart of downtown DC (Union Station), directly in the path of development from NoMA to the South and Logan Circle to the West, making it a prime candidate for redevelopment.

Existing Cash-Flow from Strong Tenant

The William E. Doar Jr. School (“WEDJ”) Charter School has occupied the Property for the last 10 years. WEDJ has expanded in the building four times and now occupies 48,744 square feet (65% of total space). 

Attractive Underlying Basis (20%-50% below market)

The sponsor’s purchase price is $55/SF FAR. The Fundrise basis is $46/SF FAR. At present, the land is zoned C-M-2, allowing 4.0 FAR for mixed-use, industrial, office, retail, and hotel use. Projected values for the land if it were available for development range from $65/SF to $85/SF of FAR.

Projected Return Calculator

Gross Annual Return* 13.0%
Term 36 mo.
Total Return*

Fundrise Rating

The Fundrise Rating is a letter rating ranging from A to E that provides investors with the ability to easily compare investments across the Fundrise platform. The Fundrise rating measures the relative risk-adjusted return of an investment. Learn more
Category Assessment Points
Capital Senior to Fundrise 60-69% 3
Capital Junior to Fundrise 10-19% 4
Location Primary 1
Occupancy Occupied 1
Development Phase Stabilized 1
Sponsor’s Track Record $50-249 million 2
Overall 12 C1

The information contained in the Fundrise Rating is for informational purposes only. It is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular investment will actually perform. You should always carefully consider investments in any security and be comfortable with your understanding of the investment. You may also consider consulting investment professionals.

Risk-Adjusted Return

Capital Structure

Type Source % of Total Amount
Equity Sponsor and LPs 16.5% $2,350,000
Preferred Equity Fundrise Investment 18.7% $2,650,000
Senior Debt 64.8% $9,200,000
Total 100.0% $14,200,000

Property Summary

The Property, originally constructed in 1949, is currently a charter school and raw office space/warehouse. According to the sponsor, the site was renovated in 2003 with $2.5M+ in base building improvements made by previous owner.  Plus, the DC government invested $3.6M in renovations to make the building suitable for charter school use.

Address 705 Edgewood St NE
City & State Washington, DC
Neighborhood Rhode Island Metro
Product Type Industrial / School & Warehouse
Project Phase Stabilized / 65% Occupied

Market Summary

Washington, DC, the seat of the Federal government, covers an area of nearly 69 square miles located between Virginia and Maryland at the confluence of the Potomac and Anacostia Rivers 25 miles west of the Chesapeake Bay. Recognized as one of the most beautifully designed and distinguished cities in the world, Washington has witnessed a cultural resurgence in recent years as several historic neighborhoods including the U Street Corridor, 14th Street/Columbia Heights, Barracks Row, and NOMA, have undergone economic revitalization and development.

About the Sponsor

Isaac Pretter

Founding Principal

Eron Sodie

Founding Principal

Mosaic Realty Partners is a private real estate investment firm founded in 2012 by its principals, Isaac Pretter and Eron Sodie, for the primary purpose of investing in office, retail and industrial real estate in the Mid-Atlantic. Since inception, Mosaic has acquired 1.1 million square feet of commercial property with an investment value in excess of $100 million. Mosaic's principals have a combined 30 years' investment experience and throughout their careers have directed in excess of $5 billion into Mid-Atlantic real estate investments.

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Fee Schedule

Gross ann. return* 13.0%
Servicing and administration fee -0.5%
Net ann. return to investors 12.5%

Other Past Investments

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Gross Ann. Return* 14.0%
Term Remaining 0 mo.
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