Earlier today the Prince of Petworth posted a rumor that Ace Hardware could be headed to the current Fashion One space (Fashion One is going out of business) at 700 H Street. Washington City Paper's Housing Complex did a little research and says the chances are good that Ace will open somewhere on H Street. Housing Complex also wondered if this could be the end of Park's Hardware (920 H Street). Park's has a decent selection, though nothing close to Frager's. Their biggest issue is probably that they don't allow you to shop all of the individual aisles. If you want certain types of items you have to ask for them to be retrieved by an employee. That's kind of a big turnoff for many potential shoppers.
I will say that every time I shop at Park's the employees are helpful, and able to offer advice. I think they need to open up the store more, and market themselves better. For example, I think many people are unaware that Parks has a back room of gardening supplies.