The NorthEast Investment Cooperative is seeking prospective tenants for its new rental space at 1601 37th Ave NE in Columbia Heights. The building is 2,100 square-feet and is located on Johnson Street NE, making it ideal for tenants interested in heavy local traffic.
The price is reasonable making the project beneficial to current and potential members as well as prospective tenants. For members, the property appears to cash flow after rehab, and even after building dividend payments on A, C and D shares into the assumptions. For tenants, this means competitive and attainable rent for a small business, likely between $12 and $15 per square foot depending upon the level of financial investment in the building required of NEIC by the tenant. NEIC’s ideal tenants include proven businesses or aspiring entrepreneurs with good plans. The business should be locally-owned, community-minded, and serve the neighborhood well. Visit www.neic.coop for more information, to RSVP for the next information session, or to become a member.