Silver Spring Mixed-Use Redevelopment
7961 EASTERN AVENUE, Silver Spring, MD 20910
Value-add mixed-use redevelopment in Silver Spring Opportunity Zone.
Type:Commercial/Industrial
Property size:
16,000 SFLot size:
0.14 AcresPrice / SF:
$156/SF- Added:
- Mar 12, 2026
- Days on Market:
- 71
- Last Refresh:
- Apr 6 at 2:49 am
Property Features for 7961 EASTERN AVENUE
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Lot size
- 0.14 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1956
Listing agent Monique A Walker License #BR98379354
Listing office Fleur de Lis, LLC (301) 750-7040
Listing date Mar 12, 2026
Source Exitrealty
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 Fleur de Lis, LLC
HighLights
- High redevelopment potential: up‑zoned commercial residential zone with 4 FAR (24,000 sqft potential).
- Opportunity zone & priority funding area: offers potential tax advantages and funding opportunities.
- Excellent location: close proximity to Metro rail and Metro bus on Eastern Avenue, bordering Washington, DC.
- Mixed‑use redevelopment: approved zoning code amendments and proximity to Kennett Street Garage & Parking Lot open multiple redevelopment possibilities.
- Increased density allowed: recently passed Montgomery County legislation allows greater density in the split‑zoned location (CR‑3, C‑3, R‑3, and H‑125).
- Transit and roadway improvements: approved improvements enhance connectivity throughout Downtown Silver Spring.
Overview
This property presents a value-add mixed-use redevelopment opportunity in downtown Silver Spring, situated within an Opportunity Zone. The property, an office building, benefits from a newly up-zoned Commercial Residential Zone and is conveniently located near Metro rail and Metro bus lines on Eastern Avenue, bordering Washington, DC. It resides within a Priority Funding Area and has expanded uses due to 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 further enhance the location's potential for repositioning or redevelopment. Approved transit and roadway improvements will improve connectivity throughout the eight districts of Downtown Silver Spring. Environmentally and security-focused design on the multi-modal trails/paths and roadways emphasizes storm water management and cooling roadways mechanisms, such as 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 Uses Residential Health Education Philanthropic Cultural Charitable Specialty Uses Family Day Care Hospital Educational Private Club/Service Organization Religious Assembly Restaurant Hotel/Motel Dental Labs Research and Development (R&D) Health Club Radio Facility.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$2.40M
NOI $216,000 @ 9.00% cap · cautious / downside scenario
Moderate
$3.09M
NOI $216,000 @ 7.00% cap · market / base-case scenario
Aggressive
$4.32M
NOI $216,000 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $384.0k | $24.00 |
| − Vacancy | −$38.4k | −$2.40 |
| EGI | $345.6k | $21.60 |
| − OpEx | −$129.6k | −$8.10 |
| NOI | $216.0k | $13.50 |
16,000 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$3.09M
$2.70M – $3.60M
NOI $216,000 @ 7.0% cap · market cap 8.64%
Second Best
Office B
$2.79M
$2.44M – $3.26M
NOI $195,540 @ 7.0% cap · market cap 7.82%
Theoretical Best
Specialty Retail
$5.63M
$4.92M – $6.57M
NOI $393,990 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Lance Bailey & associates ...
Architect
King-13th Street Garage
Parking Lot & Garage
Hebret Mutual Aid ...
Association Or Organization
Lance Bailey & Associates
Architect
Location Insight
- Map
- Local Demand
- City
- Silver Spring
- County
- Montgomery
- State
- Maryland
- Longitude
- -77.03
- Latitude
- 38.9875
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Value-add mixed-use redevelopment in Silver Spring Opportunity Zone.
Where is this mixed-use property located?
The property is located at 7961 EASTERN AVENUE Silver Spring, MD.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High redevelopment potential: up‑zoned commercial residential zone with 4 FAR (24,000 sqft potential).; Opportunity zone & priority funding area: offers potential tax advantages and funding opportunities.; Excellent location: close proximity to Metro rail and Metro bus on Eastern Avenue, bordering Washington, DC.
