403 E Diamond Ave, Unit GAITHERSBURG Gaithersburg, MD 20877
- Residential income homes
- 780 SF
- 0.25 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 403 E Diamond Ave
- Year built
- 1899
- Construction
- BRICK
- Lot size
- 0.25 lot acres
- Property size
- 780 SF
- Zone code
- CBD
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 09-02670784
- APU
- 902670784
Description
This exceptional 2,652 sq ft retail property presents a prime redevelopment opportunity in historic downtown Gaithersburg, MD. Situated on a 0.27-acre lot, this location offers unparalleled potential for developers and investors. Its strategic location is just 0.2 miles from the MARC Train Brunswick Line and 2.9 miles from a Metro station, ensuring convenient access to the broader DC metropolitan area and its vibrant entertainment hubs and amenities. The property is cleared for demolition by both the city and CSX, allowing for a fresh start on a site suitable for a multi-level building. Extensive due diligence materials are available, including environmental studies (soil tests, stormwater management plan, forest conservation plan), a traffic flow assessment, and a survey. Up to 20 parking spaces are potentially available, a significant advantage in the downtown area. The property is not historically protected, offering flexibility in design and construction. While utilities are currently disconnected, this presents an opportunity to tailor infrastructure to the new development. The seller is open to holding a first deed of trust, contingent on acceptable offer terms. This is a rare chance to create a landmark project in a thriving community. Safety warning: Do not enter the existing building.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $535,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $580,000
- 6.5%
- $595,000
- 7%
- $530,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $530,000
- Geo Method
- $520,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $625,000
- Retail
- $530,000
- Mixed-Use
- $625,000
- Hospitality
- $525,000
- Educational
- $580,000
- Residential Income
- $680,000
- Energy
- $530,000
- Income-Based Land
- $680,000
- Food Service
- $545,000
Location Insight
- Map
- Local Demand
- City
- Gaithersburg
- County
- Montgomery
- State
- Maryland
- Longitude
- -77.1905
- Latitude
- 39.1418
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
