9301 Georgia AveSilver Spring, MD 20910

For Sale
$2,200,000

Prime Silver Spring medical/office building

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional mixed-use investment opportunity presents a 7,714 square foot building situated on a 6,371 square foot lot at 9301 Georgia Avenue in Silver Spring, Maryland. Built in 1961 and extensively renovated in 2022, this solid brick, two-level building boasts excellent street visibility. Currently operating at 100% occupancy with a single tenant under a triple-net (NNN) lease, the property offers a strong 6.18% cap rate and a substantial net operating income (NOI) of $135,960. The lease, commencing March 31, 2023, has a remaining term of approximately 1.4 years with a 3% annual rent increase. The property features nine parking spaces, including a convenient loading dock. The roof is less than six years old. The building is zoned CRT1 and can be easily configured into four separate units (two on each level) if desired. This fee-simple ownership opportunity offers a compelling combination of strong cash flow, excellent location, and significant upside potential. The asking price is $2,200,000, translating to a price per square foot of $285.20.

Highlights

  • 7,714 SF mixed-use building on a 6,371 SF lot in Silver Spring, MD.
  • Solid brick building, extensively renovated in 2022, with excellent street visibility.
  • 100% occupancy with a single tenant under a triple-net (NNN) lease; 6.18% cap rate and $135,960 NOI.
  • Lease commenced March 31, 2023, with ~1.4 years remaining and a 3% annual rent increase.
  • Nine parking spaces and loading dock; roof less than six years old.
  • Zoned CRT1, easily convertible to four units.

Property Details for 9301 Georgia Ave

Property type
Other retail properties, Other office properties
Square Feet
7,714 SF
Year Built/Renovated
1961/2022
Units
4

Location Insight

City
Silver Spring
County
Montgomery
State
Maryland
Latitude
39.0075
Longitude
-77.0393697
9301 Georgia Ave, Silver Spring, Maryland

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9301 Georgia Ave
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