13 E Deer Park E, Gaithersburg, MD 20877
- $2,490,000
- List Price
- $2,490,000
- Price Change
- ▼ $460,000 1789579481
- Status
- ACTIVE
- MLS#
- MDMC2228642
- Lot Size (Acres)
- 1.3599999999999999
- Year Built
- 1970
- County
- Montgomery
- School District
- Montgomery County Public Schools
Property Description
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.
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Additional Information
- Subdivision
- Deer Park
- School District
- Montgomery County Public Schools
- High School
- Gaithersburg
- Flooring
- Wall-To-Wall Carpet
- Heating
- Forced Air, Heat Pump
- Cooling
- Central Air, Heat Pump
- Roof
- Composition
- Water
- Public
- Sewer
- Public Sewer
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Listing courtesy of RE/MAX Realty Centre, Inc.. Contact: