403 Diamond Ave, GAITHERSBURG, MD 20877
Local realty services provided by:Better Homes and Gardens Real Estate Murphy & Co.
403 Diamond Ave,GAITHERSBURG, MD 20877
$690,000
- - Beds
- - Baths
- 1,872 sq. ft.
- Single family
- Active
Listed by:edward a. martin
Office:keller williams realty/lee beaver & assoc.
MLS#:MDMC2197662
Source:BRIGHTMLS
Price summary
- Price:$690,000
- Price per sq. ft.:$368.59
About this home
Prime Redevelopment Opportunity in Historic Downtown Gaithersburg
Ask Listing Agent about Seller Financing Options. Seller is open to holding a first deed of trust for a buyer while they proceed with their plans.
Property Overview includes
Location Downtown Gaithersburg
Lot Size 0.27 acres
Property is ready for redevelopment
Survey is available in documents
This unique property offers an exceptional redevelopment opportunity in the heart of historic downtown Gaithersburg. Situated on a 0.27-acre lot, this prime location is ideal for developers and investors looking to tap into the growing potential of the area.
Key Features include
Strategic Location - Located in the vibrant downtown area, this property is in close proximity to entertainment hubs and essential amenities. It is just 0.2 miles from the MARC Train Brunswick Line, providing convenient commuter access, and 2.9 miles from the Metro Station, ensuring easy connectivity to the broader DC metropolitan area.
Development Potential - The lot is suitable for constructing more than a two-level building, offering ample space for various commercial or mixed-use developments. With approval for demolition from both the city and CSX, the existing structure can be removed, allowing for a fresh start on this prime site.
Comprehensive Planning - environmental tests and construction plans are available for review during due diligence. These include stormwater management, soil tests, a forest conservation plan, and a traffic flow assessment, giving a buyer confidence that many foundational aspects for redevelopment are in place.
Parking Capacity - The property offers the potential for up to 12 parking spaces, a valuable asset in downtown Gaithersburg, where parking availability can significantly enhance the appeal and functionality of the development.
Not Historically Protected - The property is not deemed historical, and the seller has obtained the necessary approvals, providing flexibility for redevelopment without the constraints of historical preservation regulations.
Important Notices -
Safety Warning - Please do not enter the existing building on the property. Entry is at your own risk due to safety concerns.
Document Availability - The survey and additional documentation are available for review, providing detailed insights into the property’s potential and requirements for redevelopment.
· Please note that utilities to the property have been cut/disconnected, which will need to be re-established as part of the redevelopment process.
This property represents a rare opportunity to invest in and transform a key piece of downtown Gaithersburg. With its excellent location, extensive planning resources, and flexible redevelopment options, it is an ideal choice for developers looking to create a landmark project in a growing community.
Take the first step toward realizing the potential of this exceptional redevelopment opportunity in historic downtown Gaithersburg!
Buyers are encouraged to pursue feasibility of economic incentives potentially offered by Gaithersburg, Montgomery County, and the State of Maryland.
Contact an agent
Home facts
- Year built:1899
- Listing ID #:MDMC2197662
- Added:6 day(s) ago
- Updated:September 05, 2025 at 01:46 PM
Rooms and interior
- Living area:1,872 sq. ft.
Heating and cooling
- Cooling:Window Unit(s)
- Heating:Baseboard - Hot Water
Structure and exterior
- Year built:1899
- Building area:1,872 sq. ft.
- Lot area:0.25 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$690,000
- Price per sq. ft.:$368.59
- Tax amount:$8,051 (2024)
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