Three-Building Multifamily Redevelopment
For Sale
$2,950,000
13 E Deer Park Dr, Gaithersburg, MD 20877
RB-zoned campus offers adaptive reuse options within a capped building footprint.
Property SizeContact for details
Days on Market111
Property Features for 13 E Deer Park Dr
General Information
Standard status
Active
Zoning
RB
Occupancy
80%
Additional Details
Highway Access
Yes
Multifamily Units
34
Taxes and HOA fees
Annual Taxes
$37,595
Building Details
Tenancy
Multi
Listing Agency:
RE/MAX Realty Centre, Inc.
(301) 774-5900
Listed By:
J. Larry Galey · License #5299
(301) 774-5900
Source:
Exprealty
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 11 at 11:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Realty Centre, Inc.
Investment Insights
Based on property information with market context.
The property is a three-building apartment campus presented as a development and adaptive reuse opportunity. The RB zoning is described as allowing adaptive reuse with a maximum building footprint of 17,847 square feet, or 30% of the site. The campus is currently approximately 60% leased, with the seller projecting it will reach 80% occupancy within the next 60 days. Subject to City of Gaithersburg approval, the East Deer Park campus is described as having the potential to yield up to 34 similar two-over-two condominium units.
The campus benefits from proximity to multiple regional access points and destinations, including the MARC train station, Olde Town Gaithersburg, the Shady Grove Metro, the ICC, and the I-270 corridor. The offering also highlights prominent marketing exposure along North Frederick Avenue, citing high traffic volumes and strong curb visibility.
For tenants, the existing apartment configuration supports an income-focused ownership model tied to current leasing. For buyers and operators, the zoning framework and approval-dependent redevelopment plan are central to the asset’s strategy, with the property positioned to serve as both an operating investment and a platform for contemplated condominium conversion under City approval.
The campus benefits from proximity to multiple regional access points and destinations, including the MARC train station, Olde Town Gaithersburg, the Shady Grove Metro, the ICC, and the I-270 corridor. The offering also highlights prominent marketing exposure along North Frederick Avenue, citing high traffic volumes and strong curb visibility.
For tenants, the existing apartment configuration supports an income-focused ownership model tied to current leasing. For buyers and operators, the zoning framework and approval-dependent redevelopment plan are central to the asset’s strategy, with the property positioned to serve as both an operating investment and a platform for contemplated condominium conversion under City approval.
Key Highlights
- RB‑zoned three‑building campus with adaptive reuse permitted uses
- Maximum building footprint of 17,847 SF (30% of the site), subject to City of Gaithersburg approval
- Potential to yield up to 34 similar two‑over‑two condominium units if approved
Property Analytics
Property Profile
Current Use
Lease Details
34
Residential units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 20877, MD
37,577
Population
13,599
Households
2.8
Avg Household Size
36
Median Age
35%
College-Educated
76%
High-School Grad
5.6 sq mi
ZIP Area
6,710
Density / Sq Mi
$86,103
Median Household Income
$39,341
Median Earnings
$1,862
Median Rent
$462,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - RB-zoned campus offers adaptive reuse options within a capped building footprint.
Where is this apartment building located?
The property is located at 13 E Deer Park Dr Gaithersburg, MD.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: RB‑zoned three‑building campus with adaptive reuse permitted uses; Maximum building footprint of 17,847 SF (30% of the site), subject to City of Gaithersburg approval; Potential to yield up to 34 similar two‑over‑two condominium units if approved
