Homes for sale - 1017 UNIVERSITY BLVD E, Takoma Park, MD 20912

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Simone Velvel

simone@thevelvelgroup.com +1(703) 507-7614

Listed by Lawrence Rosen • Commercial & Investment Realty Associates, LLC.

$1,945,000

Est. payment - /mo

7,200 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID MDMC2168246

Year Built 1954

Annual Tax Amount $10,692

Tax Year 2023

Lot Size 7,200 Sqft

Acres 0.17

Property Sub-Type Mixed Use

Source BRIGHT

Property Description

FOR SALE – Ideal for Owner/User
3,360 S.F. - Office / Retail
1017 E. University Blvd. Takoma Park, Md. 20912

SALE PRICE: $1,945,000

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 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.

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: 2025 real estate tax is $11,747.

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

Special Listing Condition Standard

Read Less Info

"Simone's passion for real estate and her love for "The DMV" are a perfect match. She has made it her mission to help local residents sell their homes quickly and at the best possible prices. Equally, she takes immense pride in assisting homebuyers in finding their perfect piece of paradise in DC, Maryland and Virginia. "

+1(703) 507-7614

simone@thevelvelgroup.com

11003 Glueck Lane, Kensington, Maryland, 20895, USA

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1017 UNIVERSITY BLVD E Takoma Park, MD 20912