NoMa is one of the fastest growing neighborhoods in DC. More than 40,000 people work in NoMa, including employees of the Department of Justice and the General Services Administration. New, luxurious apartment buildings are home to thousands residents who live within walking distance of the CBD and Capitol Hill. More residential projects are slated for delivery in the next few years. Constitution Square, NoMa’s massive mixed-use project is home to DC’s largest Harris Teeter as well as Potbelly and TD Bank. NoMa is served by the New York Avenue and Union Station Metro stations.

Retail rents in the NoMa submarket range between $12.12 and $38.00 per square foot per year (direct triple net), with the average at $25.06/sf. The vacancy rate is 4 percent and year-to-date net absorption is 1734sf.

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Data is from CoStar for 94 properties/24 spaces (retail) in the NoMa submarket (09-08-2012).

Last Updated on September 8, 2012 by Ramin Seddiq