Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Silver Spring Mixed-Use Redevelopment Site Title is generated by Realmo AI

    7961 Eastern Ave NW, Silver Spring, MD 20910

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Value-add mixed-use redevelopment site in Downtown Silver Spring.

    Type:Mixed Use
    Property size:
    16,560 SF
    Price / SF:
    $120/SF
    Added:
    Feb 3, 2023
    Days on Market:
    1203
    Last Refresh:
    May 19 at 9:32 pm

    Property Features for 7961 Eastern Ave NW

    General Information

    Standard status
    Active
    Size
    16,560 SF
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    Monique Anderson Walker, MSRE

    Listing agent Monique Anderson Walker, MSRE License #MD 35560

    Listing office Fleur de Lis, LLC

    Listing date Feb 3, 2023

    Source Crexi

    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

    • Prime location south of Downtown Silver Spring, ideal for Professional/Medical Office Building.
    • Significant redevelopment potential due to the 2022 Comprehensive Plan Amendment.
    • Updated zoning encourages diverse development, including affordable housing and small business support.
    • Favorable transportation connectivity with planned multimodal transportation routes.
    • Benefit from urban revitalization initiatives in a vibrant area.
    • Increased FAR offers greater development capacity.

    Overview

    Located just south of Downtown Silver Spring, 7961 Eastern Avenue presents a mixed-use redevelopment opportunity. The property is an ideal location for a Professional or Medical Office Building. The site benefits from the recent adoption of the 2022 Comprehensive Plan Amendment, which encourages diverse development, including affordable housing and small business support. The property is located within an approximate 442-acre area with favorable transportation connectivity. Planned multimodal transportation routes and urban revitalization initiatives are set to further enhance the area. The property's strengths include increased FAR and improved transit options. This dynamic mixed-use redevelopment site is located in the heart of Silver Spring and offers boundless possibilities. The property has a size of 16560 square feet.
    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

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Silver Spring
    County
    Montgomery
    State
    Maryland
    Longitude
    -77.0299966
    Latitude
    38.9875342

    Nearby Similar for Sale

    • $595,000
      1,936 SF

      Silver Spring Office Condo Opportunity

      Updated office condo in downtown Silver Spring with parking.
      8607 2ND Avenue, SILVER SPRING, MD 20910
      View Details
    • $1,150,000
      2,788 SF

      Silver Spring Triplex with Expansion Potential

      Three-unit property near Metro with high walk score.
      746 THAYER Avenue, SILVER SPRING, MD 20910
      View Details
    • $302,170

      SILVER SPRING Commercial Opportunity

      Commercial space for sale in SILVER SPRING, MD 20910
      8607 2ND Avenue, SILVER SPRING, MD 20910
      View Details
    • $850,000

      Multi-Family Home with Pool

      Luxurious multi-family property with pool and flexible living options.
      1 SOUTHVIEW CT, SILVER SPRING, MD 20905
      View Details
    • $92,900

      Move-in Ready Co-op in Leisure World

      Gated 55+ community with amenities and convenient location.
      3378 CHISWICK CT #52-3E, SILVER SPRING, MD 20906
      View Details
    • $3,800,000
      18,753 SF

      Class A Office Building

      18,753 SF Class A office building for sale.
      912 THAYER Ave, Silver Spring, MD 20910
      View Details
    • $575,900

      Professional Building Office Unit

      Office unit with high-end remodeling and assigned parking.
      12118 /12116 HERITAGE PARK CIRCLE, Silver Spring, MD 20906
      View Details
    • $360,000
      1,936 SF

      Silver Spring Office Unit For Sale

      Office unit with flexible layout and deeded parking.
      8607 2ND AVENUE 502-A, SILVER SPRING, MD 20910
      View Details
    • $585,000
      3,100 SF

      Turnkey Silver Spring Multifamily Property

      Multifamily property with rental income potential in Silver Spring, MD.
      12220 CENTERHILL St, Silver Spring, MD 20902
      View Details
    • $1,000,000
      1,800 SF

      Two-Story Office Building For Sale

      Two-story office building near shopping, hospitals, parks, and transit.
      1106 University Blvd West, Silver Spring, MD 20902
      View Details
    • $374,900
      886 SF

      Silver Spring Office Unit For Sale

      Office unit available in White Oak Professional Park.
      11217 Lockwood Dr #12-1, Silver Spring, MD 20901
      View Details
    • $1,150,000

      Silver Spring Triplex with Expansion Potential

      Three-unit property near Metro, shops, and restaurants with high income.
      746 THAYER Ave, Silver Spring, MD 20910
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Value-add mixed-use redevelopment site in Downtown Silver Spring.
    Where is this mixed-use property located?
    The property is located at 7961 Eastern Ave NW Silver Spring, MD.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: Prime location south of Downtown Silver Spring, ideal for Professional/Medical Office Building.; Significant redevelopment potential due to the 2022 Comprehensive Plan Amendment.; Updated zoning encourages diverse development, including affordable housing and small business support.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Monique Anderson Walker, MSRE
    Real Estate License ID: MD 35560
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7961 Eastern Ave NW, Silver Spring, MD 20910
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!