The storefront with the highest retail rent isn’t in Georgetown or Dupont Circle — it’s in Chinatown.
That’s according to DCMud, which reports that the only vacancy on the corner of 7th and H Streets NW is going for $250 to $300. That’s a lot. Georgetown businesses typically pay $100 to $120 per square foot, and Union Station, which currently has the city’s highest rates, leases space for about $200 per square foot, DCMud reports.
Although many of Chinatown’s most visible businesses are national chains, the neighborhood still has a number of small, family-owned restaurants, harkening back to a time when Chinatown still had a sizable immigrant Chinese population. But given the increase in retail rates in the neighborhood, those longing for a resurgence of mom-and-pops joints may want to look elsewhere.
Corner of 7th and H Streets NW.