7961 EASTERN AVE, Silver Spring, MD 20910
7961 EASTERN AVE, Silver Spring, MD 20910
7961 EASTERN AVE, Silver Spring, MD 20910
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Graceann Tinney

Graceann Tinney

+1(267) 373-8244
Listed by Monique Walker • Fleur de Lis, LLC
$1,999,999
Est. payment /mo
6,000 Sqft Lot
Save

UPDATED:

Key Details

Property Type Commercial

Sub Type Five Or More Units

Listing Status Active

Purchase Type For Sale

Subdivision Downtown Silver Spring

MLS Listing ID MDMC2130998

Year Built 1956

Annual Tax Amount $31,891

Tax Year 2024

Lot Size 6,000 Sqft

Acres 0.14

Property Sub-Type Five Or More Units

Source BRIGHT

Property Description

Downtown Silver Spring Value-Add Mixed-Use Redevelopment in Opportunity Zone

Purchase 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 Uses

Residential

Health

Education

Philanthropic

Cultural

Charitable

Specialty Uses

Family Day Care Hospital Educational Private Club/Service Organization Religious Assembly

Restaurant Hotel/Motel Dental Labs Research and Development (R&D) Health Club Radio Facility

Location

State MD

County Montgomery

Zoning CR3.0

Interior

Hot Water 60+ Gallon Tank, Natural Gas

Heating Other

Cooling Central A/C

Flooring Concrete, Slate, Stone

Heat Source Natural Gas

Exterior

Water Access N

Roof Type Flat,Rubber

Accessibility 48\"+ Halls

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Montgomery County Public Schools

Others

Tax ID 161301040400

Ownership Fee Simple

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

Special Listing Condition Standard

Read Less Info
Bright MLS (BMLS)

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Graceann Tinney

Graceann Tinney

Agent RSRS344523

+1(267) 373-8244

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from The Graceann Tinney Team, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

7961 EASTERN AVE

QUICK SEARCH
There are 45 quick searches