http://dcentric.wamu.org/2011/08/d-c-program-could-boost-h-street-retail/ Race, Class, The District. Mon, 16 Jul 2012 03:01:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://dcentric.wamu.org/2011/08/d-c-program-could-boost-h-street-retail/#comment-768 Christopher Thu, 11 Aug 2011 21:35:00 +0000 http://dcentric.wamu.org/?p=9476#comment-768 realityisapain:  I think you're misunderstanding Charles Allen's statement.  You're right that the asking price per square foot is whatever it is, and doesn't adjust based on potential renter.  But where does that number come from?  It's based on what the landlords think they can get; and at this point, establishments on H with liquor licenses will have higher revenues than those that don't, so their higher ability to pay will set the going rate.  I think that's all he's trying to say. realityisapain:  I think you’re misunderstanding Charles Allen’s statement.  You’re right that the asking price per square foot is whatever it is, and doesn’t adjust based on potential renter.  But where does that number come from?  It’s based on what the landlords think they can get; and at this point, establishments on H with liquor licenses will have higher revenues than those that don’t, so their higher ability to pay will set the going rate.  I think that’s all he’s trying to say.

]]> http://dcentric.wamu.org/2011/08/d-c-program-could-boost-h-street-retail/#comment-766 Anonymous Thu, 11 Aug 2011 15:44:00 +0000 http://dcentric.wamu.org/?p=9476#comment-766 Charles Allen probably hasn't ever owned or leased commercial property.  The asking price per square foot is what it is and the landlord doesn't care if the lessee has a liquor license or not.  Brokers don't quote different prices based on use. The revenue from alcohol sales helps boost gross receipts to compensate for the high property taxes and other taxes and costs associated with doing business in the city.  It's hard to match those revenues selling books, t-shirts, and housewares unless a retail business has a high volume of sales at full markup most days of the week.  H Street still doesn't have the volume of foot traffic to make that possible. Charles Allen probably hasn’t ever owned or leased commercial property.  The asking price per square foot is what it is and the landlord doesn’t care if the lessee has a liquor license or not.  Brokers don’t quote different prices based on use.
The revenue from alcohol sales helps boost gross receipts to compensate for the high property taxes and other taxes and costs associated with doing business in the city. 
It’s hard to match those revenues selling books, t-shirts, and housewares unless a retail business has a high volume of sales at full markup most days of the week.  H Street still doesn’t have the volume of foot traffic to make that possible.

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