Larry Rosen 3017938901

1017 University Blvd E 3,360 SF 75% Leased Office Building Silver Spring, MD 20903 $1,995,000 ($593.75/SF) 6.20% Cap Rate

INVESTMENT HIGHLIGHTS

Ideal for Owner Occupant or Redevelopment

Purple Line Metro Station will be basically across the street.

EXECUTIVE SUMMARY

FOR SALE – Ideal for Owner/User
3,360 S.F. - Office / Retail
1017 E. University Blvd. Takoma Park, Md. 20912
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.
SALE PRICE: $1,995,000
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.

1017 E. University FOR SALE INFO 3-3-25

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Office

Building Size

3,360 SF

Building Class

Year Built/Renovated

1954/2019

Price

$1,995,000

Price Per SF

$593.75

Cap Rate

6.20%

NOI

$123,690

Percent Leased

75%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

1,680 SF

Slab To Slab

8’

Building FAR

0.45

Lot Size

0.17 AC

Opportunity Zone

Yes

Zoning

CRT - Permits retail, service uses, office and other uses.

Parking

9 Spaces (2.68 Spaces per 1,000 SF Leased)

MAJOR TENANTS

Brandon Alexander Foundation
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Capriccios Hair Studio
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-
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Gideon-Church
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-
-
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Lily's Nail Salon
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$42.00
Plus Utilities and Cleaning
-

Peoples Tax Services
-
-
-
-
-

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE TYPE	LEASE END
Brandon Alexander Foundation	-	-	-	-	-
Capriccios Hair Studio	-	-	-	-	-
Gideon-Church	-	-	-	-	-
Lily's Nail Salon	-	-	$42.00	Plus Utilities and Cleaning	-
Peoples Tax Services	-	-	-	-	-

SPACE AVAILABILITY

SPACE
SIZE
SPACE USE
CONDITION
AVAILABLE

2nd Fl-Ste 202
840 SF
Office/Retail
Full Build-Out
Now

Office/Retail Space – Renovated For Lease – Reduced Rental Rates 1017 & 1019 University Blvd. Takoma Park / Langley Park IMPROVEMENTS: Units have a similar layout and are 840 s.f. each. Units have nice laminate wood flooring throughout. Suite 202 is available June 1, 2025. The spaces are divided up into two offices, a reception area/waiting room, one half bathroom and storage areas. The ceilings are drywall with florescent lighting fixtures. The unit has a front and rear door. All spaces are windowed on 3 sides and show very nicely. 1019 University also has some additional plumbing, ideal for uses that need additional sinks or shampoo bowls. 1017 University. One can rent suite 201, 840 s.f. or combine it with suite 202 for a 1,680 s.f. space. SIGNAGE: The owner has installed a permanent 10’ by 8’ sign in front of the building. Each occupant of this building can place their sign on one of the panels. The tenant pays for the sign panel. This will provide excellent visibility. PARKING: There are several unreserved parking spaces on site. May people park in the adjacent shopping center. ZONING: CRT, office, retail and service (salon or similar) uses permitted. LEASE: Each Unit - $1,995 per month year 1, $2,195 year 2 and $2,395 year 3. 3-year lease is preferred, negotiable however. Tenant covers electric & interior cleaning and maintenance. First month’s rent abated to allow tenant to move in.