Property Description

Downtown Silver Spring Value-Add Mixed-Use Redevelopment in Opportunity ZonennPurchase 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.nnRecently 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:nnInstitutional UsesnnResidentialnnHealthnnEducationnnPhilanthropicnnCulturalnnCharitablennSpecialty UsesnnFamily Day Care Hospital Educational Private Club/Service Organization Religious AssemblynnRestaurant Hotel/Motel Dental Labs Research and Development (R&D) Health Club Radio Facility

Features
: Other
: Central a/c
: Flat, Rubber
N
: Brick, Block
: Concrete, Slate, Stone
: 48"+ Halls
N
: Natural Gas
: Natural gas
: Natural gas, 60+ Gallon Tank
N
N
N
Address Map
EASTERN
7961
AVENUE
1
W78° 58' 12.1''
N38° 59' 15.3''
7961
Eastern Avenue District of Columbia/Maryland border, adjacent to the Kennett Street Garage with nearly 600 parking spaces.
MLS Addon
Fleur de Lis, LLC
Monique A Walker
Bright
BRIGHT_MAIN
Annually
N
Other
Annually
59872
802174156550
MONTGOMERY COUNTY PUBLIC SCHOOLS
16,560 Sqft
6
No
: Standard
$31,891
2024
CR3.0
: Public Sewer
: Public
0 Sqft
2
$0
$0
$0
$0

Commercial Sale For Sale

7961 EASTERN AVENUE, SILVER SPRING, Maryland 20910

0.14 Acre
$3,225,000
Listing ID #MDMC2130998
Basic Details
Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : MDMC2130998
Price : $3,225,000
Year Built : 1956
Lot Area : 0.14 Acre
Status : Active
Subdivision Name : DOWNTOWN SILVER SPRING
Property Sub Type : Five Or More Units
Price Per SQFT : $195
Agent info
Robert Spicer
Spicer Real Estate, Inc.
7201 Wisconsin Avenue
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Contact Agent
This listing courtesy of: Fleur de Lis, LLC
Listing provided by: Monique A Walker