New Life for Former Cycle Life Space?

Cycle Life, the upscale bicycle shop and smoothie bar at 3255 K St. NW, has been closed since earlier this year, and the building is now for sale or lease. The property also houses Water Street Gym on the second floor, which remains open for business. Jamie Connelly, real estate principal for Summit Commercial, is conducting the sale. He tells us that numerous international buyers have surfaced due to the property’s Potomac waterfront views and parking (13 spots in total). The first floor retail-commercial space is 4,500 square feet with six parking spaces; the second is 6,500 square feet with seven parking spaces, subject to the existing lease with? Water Street Gym.

Connelly says that investors or developers may be looking to do a residential or hotel conversion due to the spectacular river views. He also believes that national and local retailers, high-end purveyors of food and wines and the diplomatic community could be interested. Connelly recently assisted the Oman government in securing a new 30,000-square-foot museum/cultural center space at 16th and L Streets. See him to check out a unique space in town.

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