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700 Russell Ave
Gaithersburg, MD 20877
Property For Lease
PROPERTY FACTS
| Property Type | Retail | Year Built | 1980 |
| Property Subtype | Health Club | Parking Ratio | 2.64/1,000 SF |
| Gross Leasable Area | 47,745 SF | Construction Status | Converted |
| Property Type | Retail |
| Property Subtype | Health Club |
| Gross Leasable Area | 47,745 SF |
| Year Built | 1980 |
| Parking Ratio | 2.64/1,000 SF |
| Construction Status | Converted |
ABOUT THE PROPERTY
Former health club facility located directly across from the former Lakeforest Mall site, now owned by WRS Inc. Real Estate, which is nearing approvals for redevelopment to a 102 ac. mixed-use community. The health club building remains fully equipped and functional for a health club use, however is not operating as such at the present time. The property is presently zoned C-2 in the City of Gaithersburg, which allows for a multitude of “general commercial” uses, with a maximum building height of ten stories and a 1.5 FAR (90,648 sf). Per the City of Gaithersburg’s 2009 Land Use Element (Master Plan), the property is recommended for rezoning to the City’s CD (Corridor Development) zone. In addition, 700 Russell Avenue is located in a Qualified Opportunity Zone pursuant to the Tax Cuts and Jobs Act of 2017 (Public Law No. 115-97).
