7961 Eastern Ave Silver Spring, MD 20910

Located in downtown Silver Spring, this property presents a value-add mixed-use redevelopment opportunity within an Opportunity Zone. The site is an office building situated in a newly up-zoned Commercial Residential Zone, offering convenient access to Metro rail and Metro bus lines on Eastern Avenue, bordering Washington, DC. The property is located in a Priority Funding Area and benefits from the expansion of uses per the 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. Approved Zoning Code Amendments make this location suitable for repositioning or redevelopment. Approved transit and roadway improvements will allow for greater connectivity throughout the 8 distinct districts making up Downtown Silver Spring. 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. Recent 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, residential, health, education, philanthropic, cultural, charitable, and specialty uses such as family day care, hospital, educational facilities, private club/service organizations, religious assemblies, restaurants, hotels/motels, dental labs, research and development facilities, health clubs, and radio facilities.