Industrial-zoned property is both scarce and expensive in DC, but there’s an affordable alternative just over the DC line at 4401 Rhode Island Ave. in Brentwood, MD. This 0.67 acre parcel is ready for an investor or end-user to build, using existing approved plans for an 18,000 SF three-story building. Get your permits in place and this development will be “shovel-ready.” Well positioned for DC-based users/investors seeking reduced costs as well as those further out seeking closer proximity to the city.
The plans provide for approx. 10,000 SF on the first floor, 4,000 SF on the 2nd floor, with two office units and two residential units, and a 4,000 SF 3rd floor, with four residential units. The building was designed to allow tractor-trailer delivery, with ingress on the 41st St. side and egress onto Rhode Island Ave. Parking is one level underground with structured parking above, minimizing excavation costs. Additionally, approval was given for a cutout from the Rhode Island Ave. sidewalk for parking, which will count towards parking requirements. There will be two curb cuts onto Rhode Island Ave.
All plans will convey and the current architect is available to work with new ownership to tweak the existing plan or work on a new concept altogether. Property comes with an existing income stream of $650 monthly for billboard rental, plus future income stream potential from six residential units and two commercial units planned for second and third floors.
The asking price is based on existing approved plans, but it includes the potential to add 40-50 residential units, subject to verification by and approval of Prince Georges County. The architect designed the foundation and structure to support the increased building concept.
The existing DSP (Detailed Site Plan) was created/approved under Urban Light Industrial Zoning. The DSP will be valid for two years from April 1, 2022, when the new Countywide Map Amendment takes effect, at which time the zoning for this parcel changes to NAC, Neighborhood Activity Center. (Please confirm with PG County zoning.)
Neighborhood Activity Center is one of five Transit-Oriented/Activity Center Base Zones intended to serve as focal points of neighborhoods or broader communities consisting of multiple neighborhoods, at an urban intensity. These zones are often well-served by transit, and contain—and require—mixed-use development.
Courtesy of: Capital Realty Advisors Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 26th May, 2022 10:34 PM (UTC)