Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1970
Sq.Footage
N/A
Deer Park’s three-building campus presents a rare and compelling development opportunity, RB zoning offer a unique range of permitted uses. Specifically this zoning allows foradaptive reuse and a maximum building footprint of 17,847 square feet (30% of the site). A new two-over-two condominium community located within one block of the property is currently selling units starting at $600,000. Subject to City of Gaithersburg approval, the East Deer Park campus has the potential to yield up to 34 similar two-over-two condominium units. The property is currently approximately 60% leased and is projected to reach 80% occupancy within the next 60 days. This asset offers strong appeal to income-focused investors seeking a buy-and-hold opportunity or a stable cash-flow investment. The campus enjoys excellent proximity to the MARC train station, Olde Town Gaithersburg, the Shady Grove Metro, the ICC, and the I-270 corridor. It also benefits from prominent marketing exposure along North Frederick Avenue, with high traffic volumes and exceptional curb visibility.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air, Heat Pump, Electric
-
Heating YN
YES
-
Heating
Electric, Forced Air, Heat Pump
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Parking Lot
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
1.36
-
Property Type
Commercial Sale
-
Property Sub Type
Office
Price
-
Sales Price
$2,950,000
-
Tax Amount
$37,595.15
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
GAITHERSBURG
Property Features
-
New Construction
NO
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
MONTGOMERY
Elementary School
Middle School
High School
GAITHERSBURG
Listing Courtesy of J. Larry Galey , RE/MAX Realty Centre, Inc.
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AGENT
Emily Simpson
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