A parking lot in downtown Silver Spring is now available for sale. The paved lot at 8603 2nd Avenue has 14 parking spaces, and is currently also improved with a playground. An existing lease on the property expires in 2025. The asking price for the lot is $1,225,000, according to the sale listing by Bethesda-based AMR Commercial, LLC.
If you could assemble this site with others around it in the future, zoning allows for a building height of up to 175'. Of course, it may be just as valuable of an investment as a parking lot, as more and more parking facilities are redeveloped, and future buildings have less or no parking at all.
How much is it currently leased for?
ReplyDeleteThe listing does not provide the current monthly rent being paid, only that the current lease runs through April 30, 2025.
DeleteIt's currently leased by The Goddard School as pick-up/drop-off overflow parking and a playground for older kids. They're going to be really hurting for space if they can't purchase the property or renew their lease.
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