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Multi-Family

Shirlington Development

2608 Shirlington Rd, Arlington, VA 22206

Listing Price: Request For Offer

Lot Size
0.34 acres
Land Type
Land
Buildable Square Feet
40,240

Investment Overview

OFFERING OVERVIEW As the exclusive listing broker, Marcus & Millichap is pleased to present Shirlington Apartments Development Site, a fully entitled, 30-unit multifamily development site located in Arlington County’s only Opportunity Zone. Due to its size and location, the Shirlington Apartments Development Site presents one of the most unique and rare development opportunities in Arlington County. The site received final approval from Arlington County in July 2022. The approved plans can be found in the Due Diligence Room upon request. THE ASSET The Development Site consists of 14,704 square feet or 0.34 acres of developable land. The property plans have been approved by Arlington County under the UCMUD zoning regulations, which presents the opportunity to build 30 multifamily units with 38 parking spaces and up to 4 stories of building height. The plans include 40,240 buildable square feet with 29,217 gross square feet above grade and 11,023 gross square feet at grade for parking. Of the 29,217 gross square feet above grade, 20,880 square feet will be rentable. The plans also include multiple amenities such as an outdoor pool, covered parking, front lobby, courtyard, and more. THE LOCATION The Development Site is conveniently located near various restaurants, retailers, and entertainment options. It also provides easy access to I-395, and Downtown Washington DC. The Development Site is also located less than 2.5 miles from Amazon HQ2. Future rents for “Class A” ground-up developments in the three-mile radius of Amazon HQ2 are projected to increase at a rate higher than 10% year over year. The combination of future rent growth and the site’s location in Arlington County’s only Opportunity Zone makes this a unique and exciting opportunity for a prospective developer.

Investment Highlights

  • Extremely Rare Fully-Entitled Development Site with UCMUD Zoning
  • Located in Arlington County's Only Opportunity Zone
  • Located 2.5 Miles from Amazon HQ2
  • Site Plans Allow for 30 Above-Grade Multifamily Units
  • Site Plans Include a Full Amenity Package
  • Site Plans Include 38 At-Grade Parking Spaces

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multi-Family

Shirlington Development

Listing Price: Request For Offer

Lot Size
0.34 acres
Land Type
Land
Buildable Square Feet
40,240

Investment Highlights

  • Extremely Rare Fully-Entitled Development Site with UCMUD Zoning
  • Located in Arlington County's Only Opportunity Zone
  • Located 2.5 Miles from Amazon HQ2
  • Site Plans Allow for 30 Above-Grade Multifamily Units
  • Site Plans Include a Full Amenity Package
  • Site Plans Include 38 At-Grade Parking Spaces

Investment Overview

OFFERING OVERVIEW As the exclusive listing broker, Marcus & Millichap is pleased to present Shirlington Apartments Development Site, a fully entitled, 30-unit multifamily development site located in Arlington County’s only Opportunity Zone. Due to its size and location, the Shirlington Apartments Development Site presents one of the most unique and rare development opportunities in Arlington County. The site received final approval from Arlington County in July 2022. The approved plans can be found in the Due Diligence Room upon request. THE ASSET The Development Site consists of 14,704 square feet or 0.34 acres of developable land. The property plans have been approved by Arlington County under the UCMUD zoning regulations, which presents the opportunity to build 30 multifamily units with 38 parking spaces and up to 4 stories of building height. The plans include 40,240 buildable square feet with 29,217 gross square feet above grade and 11,023 gross square feet at grade for parking. Of the 29,217 gross square feet above grade, 20,880 square feet will be rentable. The plans also include multiple amenities such as an outdoor pool, covered parking, front lobby, courtyard, and more. THE LOCATION The Development Site is conveniently located near various restaurants, retailers, and entertainment options. It also provides easy access to I-395, and Downtown Washington DC. The Development Site is also located less than 2.5 miles from Amazon HQ2. Future rents for “Class A” ground-up developments in the three-mile radius of Amazon HQ2 are projected to increase at a rate higher than 10% year over year. The combination of future rent growth and the site’s location in Arlington County’s only Opportunity Zone makes this a unique and exciting opportunity for a prospective developer.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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