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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Listing Snapshot
Price
$2,950,000
Days On Site
6 Days
Bedrooms
N/A
Inside Area (SqFt)
17,445 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
1.36 Acres
Year Built
1970
MLS® Number
MDMC2228642
Status
Active
Property Tax
$37,595.15
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
React
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