USAMDSilver SpringDowntown Silver Spring7961 Eastern Ave

7961 Eastern Ave, Home with 0 bedrooms, 6 bathrooms and null parking in SILVER SPRING MD | Image 1

$2,500,000

7961 Eastern Ave, Silver Spring, MD

Name: 7961 Eastern Ave, For Sale in SILVER SPRING - eXp Commercial Brokerage
Brand: Fleur de Lis, LLC
SKU: MDMC2130998
Price: 2500000 CAD

Real Estate

For Sale

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Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage No

Maintenance Fees

Taxes $31,891

Days Active 336

Approx. Age 1956

MLS® Number MDMC2130998

Property Address:

Average square foot calculated using Size range provided by listing agent.

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 FacilityShow Description

MLS® NumberMDMC2130998

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1956

Stories3

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatOther, Natural Gas

A/CCentral A/C, Natural Gas

Heating Fuel

Extras

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