3,360 SqFt
3,360 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,360 sqft
Price per Sqft $593
MLS Listing ID MDMC2168246
Originating Board BRIGHT
Year Built 1954
Annual Tax Amount $10,692
Tax Year 2023
Lot Size 7,200 Sqft
Acres 0.17
Property Sub-Type Mixed Use
Property Description
3,360 S.F. - Office / Retail
1017 E. University Blvd. Takoma Park, Md. 20912
SALE PRICE: $1,995,000
IDEAL FOR OWNER OCCUPANT BUYER OR REDEVELOPEMENT: There are short term rental obligations currently, making this an ideal owner occupant building or one can extend the current leases. With the Purple Line station soon to be located across the street there will likely be considerable redevelopment in this market.
IMPROVEMENTS: This freestanding office/retail building is divided into 4 equally sized (840 s.f.) units either vacant or under short term or month to month leases. This building is ideal for an owner occupant or redevelopment use. Each space is fully self-contained with its own HVAC unit, bathroom and front and rear entrances. Each unit is built out slightly differently. Each floor can easily be combined to create 1,680 s.f. spaces on each level. Sewer, water, gas and electric serve the property. The on-site parking and driving areas are paved with concrete. Tenant are responsible for all there own maintenance.
PURPLE LINE METRO STATION: See the diagram attached showing the Takoma-Langley Crossroads Transit Center which will house the new Purple Line Metro Station and bus terminal. This is located almost directly across the street and will connect this market with the entire Metro system.
OPPORTUNITY ZONE: The property is located in an opportunity zone which can offer significant capital gains and other tax savings.
PARKING: The building is surrounded by a parking lot with concrete driveway and parking spaces.
ZONING: CRT-2 (Commercial Residential Town) has a 2 FAR and a 50' height limit for redevelopment. It may be possible to construct a significantly larger building on this property. This zoning permits medical/office/retail/service uses and others and targets opportunities for redevelopment of single use commercial areas and surface parking lots.
LAND: 7,200 s.f. of land
SIGNAGE: There is a County permitted exterior sign that each tenant can use to advertise their business.
R.E. TAX: 2024 real estate tax is $11,254.
LOCATION: The building is located near the corner of E. University Blvd. & Anne Street next to the Hampshire Langley Shopping Center in Takoma Park. The Purple Line Metro Station will be across the street and is expected to open towards the end of 2027.
Location
State MD
County Montgomery
Zoning CRT2.
Interior
Hot Water Electric
Heating Forced Air
Cooling Heat Pump(s)
Heat Source Natural Gas
Exterior
Garage Spaces 7.0
Water Access N
Accessibility Other
Total Parking Spaces 7
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Montgomery County Public Schools
Others
Tax ID 161303174083
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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