Property profile

403 Diamond Ave Gaithersburg, MD 20877

OFF-MARKET
Residential income homes
Property ID
US40-2259887
780 SF 0.25 ac lot Built 1899
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is located in historic downtown Gaithersburg on a 0.27-acre lot and is suited for redevelopment with a building designed to exceed two levels. It is not identified as historically protected, and demolition approvals had been obtained from the city and CSX. Available documentation includes environmental testing and construction planning materials such as stormwater management, soil testing, a forest conservation plan, and a traffic flow assessment, as well as a survey and additional records for review. The site potentially provides up to 12 parking spaces. Its location is approximately 0.2 miles from the MARC Train Brunswick Line and about 2.9 miles from a Metro Station, and utilities on the site were disconnected and would need to be re-established to support redevelopment.

Property profile

Verified
Property type Residential income homes
Use group APARTMENT HOUSE (UNDER 5 UNITS)
Year built 1899
Construction BRICK
Total area 780 SF
Lot 0.25 ac (10,890 SF)
Zoning code CBD
APN 09-02670784
UPID US40-2259887

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

403 Diamond Ave Gaithersburg, MD 20877-3019
Gaithersburg metro Census 700725 WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$550k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$535k

Owner & transaction history

since 2022
Last sale
$615,000
2 recorded transactions
2022
$615,000
2005
$422,500

Zoning & alternative use

CBD · Gaithersburg, MD
Zoning description

The purpose of CBD Zone is intended to foster revitalization by promoting a desirable mix of commercial, office and residential uses, and providing public amenities, for attracting a variety of leisure uses and activitie…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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