The tiny complex--consisting mostly of retail space but also of a small amount of office space--accounts for only about 9,000 sf of space, which means the property commanded a whopping $405 per sf. It was back in 2001 that the structures last hit the market.

Located in the city's central business district just a stone's throw from the building that houses the Washington Post, 1422-1428 L St. was originally developed in the early 20th Century. Post Pub, named for the nearby newspaper, is the lead tenant at the 100%-occupied site; Nite Cap Café also occupies a portion of the space. According to Advantis, the building is a perfect fit for Schaeffer's portfolio, which consists of several other properties in the vicinity.