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Mixed-Use

615 S Stonestreet Ave

615 S Stonestreet Ave, Rockville, MD 20850

Listing Price: Request For Offer

Gross SF
8,917
Rentable SF
8,917
Lot Size
0.51 acres
Year Built
1940

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 615 South Stonestreet Avenue, Rockville, Maryland. The building is currently occupied by a mechanical contractor and offers 8,917 SF of fully airconditioned office and warehouse space with an outdoor storage area and ample parking. The 0.51-acre, MXB-zoned property sits at the southern tip of the Stonestreet Corridor. Properties in the Stonestreet corridor have been rezoned to encourage a mix of retail, office and residential development. The property is within a 5-minute walk to the Metro/Marc station and offers quick walking access to Rockville Town Square. It is also located at the intersection of Rt 355 and Veirs Mill Road and offers quick driving access to I-270, Washington D.C. and the surrounding suburbs. Given its location near downtown Rockville, the site was rezoned to MXB which encourages development and allows for a wide range of densities and uses. The city envisions a mixed use and high-density corridor with Stonestreet realigned around the metro property. A similar MXB-zoned 24,975 SF lot on N Stonestreet Avenue was just developed as a 5-story, 101,100 SF retail/self storage project with an FAR of 4.05. Given its location in a residential neighborhood, proximity to public transport and area amenities, the site likely lends itself to townhome or multifamily development. Numerous other uses are also allowed, including but not limited to medical uses, office, retail, various service-oriented businesses and hospitality. In addition to its development potential, the property could also accommodate a new user. The building is fully air conditioned and features 1 drive-in door, a +/- 3,850 SF storage/warehouse area with 12’ ceiling heights, 5,067 SF of office space, 2 bathrooms, 17 parking spaces, and outdoor storage space on both sides of the building. The first floor includes a front reception area, four offices, two bathrooms and a conference room along with the storage/warehouse area. There are 3 separate second floor areas, each consisting of office space and including one shower and a kitchen area. Although the current use is nonconforming, a similar use would be allowed if the property does not remain vacant more than 3 months.

Investment Highlights

  • Zoning encourages development and allow a range of densities and uses.
  • 55' height restriction & minimal setbacks allow for substantial density.
  • Walkable & bikeable with proximity to the Rockville Metro/Marc Station.
  • Nearby Restaurants, Grocery Stores, Entertainment, Parks & Schools.
  • Infill location with strong demographics and a growing population.
  • Property includes office, warehouse, outdoor storage and ample parking.
  • Area flex rents range from $15 to $20/SF allowing for a long-term hold.

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804, PA: ABR005179

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Mixed-Use

615 S Stonestreet Ave

Listing Price: Request For Offer

Gross SF
8,917
Rentable SF
8,917
Lot Size
0.51 acres
Year Built
1940

Investment Highlights

  • Zoning encourages development and allow a range of densities and uses.
  • 55' height restriction & minimal setbacks allow for substantial density.
  • Walkable & bikeable with proximity to the Rockville Metro/Marc Station.
  • Nearby Restaurants, Grocery Stores, Entertainment, Parks & Schools.
  • Infill location with strong demographics and a growing population.
  • Property includes office, warehouse, outdoor storage and ample parking.
  • Area flex rents range from $15 to $20/SF allowing for a long-term hold.

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 615 South Stonestreet Avenue, Rockville, Maryland. The building is currently occupied by a mechanical contractor and offers 8,917 SF of fully airconditioned office and warehouse space with an outdoor storage area and ample parking. The 0.51-acre, MXB-zoned property sits at the southern tip of the Stonestreet Corridor. Properties in the Stonestreet corridor have been rezoned to encourage a mix of retail, office and residential development. The property is within a 5-minute walk to the Metro/Marc station and offers quick walking access to Rockville Town Square. It is also located at the intersection of Rt 355 and Veirs Mill Road and offers quick driving access to I-270, Washington D.C. and the surrounding suburbs. Given its location near downtown Rockville, the site was rezoned to MXB which encourages development and allows for a wide range of densities and uses. The city envisions a mixed use and high-density corridor with Stonestreet realigned around the metro property. A similar MXB-zoned 24,975 SF lot on N Stonestreet Avenue was just developed as a 5-story, 101,100 SF retail/self storage project with an FAR of 4.05. Given its location in a residential neighborhood, proximity to public transport and area amenities, the site likely lends itself to townhome or multifamily development. Numerous other uses are also allowed, including but not limited to medical uses, office, retail, various service-oriented businesses and hospitality. In addition to its development potential, the property could also accommodate a new user. The building is fully air conditioned and features 1 drive-in door, a +/- 3,850 SF storage/warehouse area with 12’ ceiling heights, 5,067 SF of office space, 2 bathrooms, 17 parking spaces, and outdoor storage space on both sides of the building. The first floor includes a front reception area, four offices, two bathrooms and a conference room along with the storage/warehouse area. There are 3 separate second floor areas, each consisting of office space and including one shower and a kitchen area. Although the current use is nonconforming, a similar use would be allowed if the property does not remain vacant more than 3 months.

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804, PA: ABR005179

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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