403 E DIAMOND AVE Gaithersburg, MD 20877
1,872 SqFt
UPDATED:
09/07/2024 07:30 AM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,872 sqft
Price per Sqft $438
MLS Listing ID MDMC2135270
Originating Board BRIGHT
Year Built 1899
Annual Tax Amount $8,051
Tax Year 2024
Lot Size 10,890 Sqft
Acres 0.25
Property Description
Property Overview includes
Location Downtown Gaithersburg
Lot Size 0.27 acres
Property is ready for redevelopment
Survey is available in documents
This unique property offers an exceptional redevelopment opportunity in the heart of historic downtown Gaithersburg. Situated on a 0.27-acre lot, this prime location is ideal for developers and investors looking to tap into the growing potential of the area.
Key Features include
Strategic Location - Located in the vibrant downtown area, this property is in close proximity to entertainment hubs and essential amenities. It is just 0.2 miles from the MARC Train Brunswick Line, providing convenient commuter access, and 2.9 miles from the Metro Station, ensuring easy connectivity to the broader DC metropolitan area.
Development Potential - The lot is suitable for constructing more than a two-level building, offering ample space for various commercial or mixed-use developments. With approval for demolition from both the city and CSX, the existing structure can be removed, allowing for a fresh start on this prime site.
Comprehensive Planning - Extensive environmental tests and construction plans are available for review during due diligence. These include stormwater management, soil tests, a forest conservation plan, and a traffic flow assessment, giving a buyer confidence that many foundational aspects for redevelopment are in place.
Parking Capacity - The property offers the potential for up to 20 parking spaces, a valuable asset in downtown Gaithersburg, where parking availability can significantly enhance the appeal and functionality of the development.
Not Historically Protected - The property is not deemed historical, and the seller has obtained the necessary approvals, providing flexibility for redevelopment without the constraints of historical preservation regulations.
Important Notices -
Safety Warning - Please do not enter the existing building on the property. Entry is at your own risk due to safety concerns.
Document Availability - The survey and additional documentation are available for review, providing detailed insights into the property’s potential and requirements for redevelopment.
· Please note that utilities to the property have been cut/disconnected, which will need to be re-established as part of the redevelopment process.
This property represents a rare opportunity to invest in and transform a key piece of downtown Gaithersburg. With its excellent location, extensive planning resources, and flexible redevelopment options, it is an ideal choice for developers looking to create a landmark project in a growing community.
Take the first step toward realizing the potential of this exceptional redevelopment opportunity in historic downtown Gaithersburg!
Seller open to holding a first deed of trust is offer terms acceptable.
Location
State MD
County Montgomery
Zoning CBD
Interior
Hot Water Multi-tank
Heating Baseboard - Hot Water
Cooling Window Unit(s)
Heat Source Other
Exterior
Garage Spaces 8.0
Utilities Available Electric Available, Phone Available, Sewer Available, Water Available
Waterfront N
Water Access N
Accessibility None
Total Parking Spaces 8
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Montgomery County Public Schools
Others
Tax ID 160902670784
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
