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7961 Eastern Avenue

SILVER SPRING, MD 20910
  • $3,225,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: MDMC2130998
UPDATED: 68 min ago
$3,225,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1956
County:

School Ratings & Info

Description

Downtown Silver Spring Value-Add Mixed-Use Redevelopment in Opportunity ZonePurchase an office building in a newly up-zoned Commercial Residential Zone, in close proximity to Metro rail and Metro bus on well-traveled Eastern Avenue bordering Washington, DC. Property sits in a Priority Funding Area and benefits from recent expansion of uses per 2022 Amended Comprehensive Plan through the Silver Spring Downtown and Adjacent Comprehensive Plan. The amended plan allows for a 4 FAR or 24, 000 SQFT building potential. The building is currently 16,000+/- SQFT. Additionally, approved Zoning Code Amendments make this location ripe for repositioning or redevelopment. Approved transit and roadway improvements are value-ads, as they will allow for greater connectivity throughout the 8 distinct districts making up Downtown Silver Spring. Moreover, environmentally and security-focused design on the multi-modal trails/paths and roadways have an emphasis on storm water management and cooling roadways mechanism like right of way rain gardens, and expansion of tree canopy on pedestrian connector roads, sidewalks and roadways.Recently passed Montgomery County legislation will allow greater density in the split-zoned (CR-3, C-3, R-3, and H-125) location. Proximity to the abutting Kennett Street Garage & Parking Lot opens up opportunity for multiple redevelopment possibilities to include:Institutional UsesResidentialHealthEducationPhilanthropicCulturalCharitableSpecialty UsesFamily Day Care Hospital Educational Private Club/Service Organization Religious AssemblyRestaurant Hotel/Motel Dental Labs Research and Development (R&D) Health Club Radio Facility

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Great Falls Great Homes | Long & Foster Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-25T17:56:04.59.
www.greatfallsgreathomes.com/homes/150238761
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7961 Eastern Avenue SILVER SPRING, MD 20910

  • Price: $3,225,000
  • Status: Active
  • On Site: 18 Days
  • Updated: 68 min ago
  • ID#: MDMC2130998
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1956
Built
Neighborhood:
Downtown Silver Spring
County:
Montgomery
School District:
Montgomery County Public Schools
Property Description
Downtown Silver Spring Value-Add Mixed-Use Redevelopment in Opportunity ZonePurchase an office building in a newly up-zoned Commercial Residential Zone, in close proximity to Metro rail and Metro bus on well-traveled Eastern Avenue bordering Washington, DC. Property sits in a Priority Funding Area and benefits from recent expansion of uses per 2022 Amended Comprehensive Plan through the Silver Spring Downtown and Adjacent Comprehensive Plan. The amended plan allows for a 4 FAR or 24, 000 SQFT building potential. The building is currently 16,000+/- SQFT. Additionally, approved Zoning Code Amendments make this location ripe for repositioning or redevelopment. Approved transit and roadway improvements are value-ads, as they will allow for greater connectivity throughout the 8 distinct districts making up Downtown Silver Spring. Moreover, environmentally and security-focused design on the multi-modal trails/paths and roadways have an emphasis on storm water management and cooling roadways mechanism like right of way rain gardens, and expansion of tree canopy on pedestrian connector roads, sidewalks and roadways.Recently passed Montgomery County legislation will allow greater density in the split-zoned (CR-3, C-3, R-3, and H-125) location. Proximity to the abutting Kennett Street Garage & Parking Lot opens up opportunity for multiple redevelopment possibilities to include:Institutional UsesResidentialHealthEducationPhilanthropicCulturalCharitableSpecialty UsesFamily Day Care Hospital Educational Private Club/Service Organization Religious AssemblyRestaurant Hotel/Motel Dental Labs Research and Development (R&D) Health Club Radio Facility
Exterior Features

Construction Materials BlockBrick Garage YN No Parking Types Public GarageOn Street Roof FlatRubber Water Access YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 16560.00 Cooling Central A/C Flooring ConcreteSlateStone Heating Other Heating YN Yes Net Square Feet 16000.00

Property Features

Acceptable Financing Conventional Accessibility Features 48"+ Halls Central Air YN Yes Cooling Fuel Natural Gas Elevators 1 Entry Level 1 Heating Fuel Natural Gas Historic YN No Hot Water 60+ Gallon TankNatural Gas Navigable Water YN N New Construction YN No Number Of Units Total 8 Original MLSNumber 803047349120 Ownership Interest Fee Simple Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 31886.00 Tax Lot 1 Transportation Metro/Subway Station less than 1 mileBus Stop less than 1 mileAirport less than 10 milesCommuter Rail Station less than 1 mile Vacation Rental YN No Water Source Public Zoning CR3.0

Listing courtesy of Fleur de Lis, LLC: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Great Falls Great Homes | Long & Foster Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-05-25T17:56:04.59.
 
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