Your email has been sent.
7230 Sunrise Dr
Lanham, MD 20706
Sunrise Subdivision · Land For Sale
·
6.21 AC
Investment Highlights
- QCT: Located in a 2024 Qualified Census Tract & Revitalization Tax Credit Area
- Exemption from impact fee for schools when developing elderly housing
- Reduced Impact Fees: Due to location inside the Beltway & near Metro
- TOD: Location allows for additional financing from the County, State, and Federal Governments including possibly the US DOT’s new “TIFIA 49” program
Executive Summary
Property Facts
1 Lot Available
Lot
| Price | $2,000,000 | Lot Size | 6.21 AC |
| Price Per AC | $322,061.19 |
| Price | $2,000,000 |
| Price Per AC | $322,061.19 |
| Lot Size | 6.21 AC |
Description
BridgeWater Real Estate Brokerage is pleased to exclusively present this unique development site located less than half a mile from the future Purple Line’s Glenridge Station. This 6.21-acre property is located in a Qualified Census Tract (QCT) and Revitalization Tax Credits Area for residential real estate. The property zoning is RSF-95. Prince George’s County recently adopted a new zoning bill in 2024, allowing developers to take advantage of a Special Exception clause to build elderly housing multifamily assets in residential zones such as this upon the County Planning Staff and Council approval. Please see SECTION 27-5400 SPECIAL EXCEPTION STANDARDS of the zoning bill CB-068-2022. Due to its location inside the beltway and near a Metro station, the property qualifies for a reduced impact fee (school + public safety) requirement of $12,929 per permit. In addition, Prince George’s County exempts the school fee of $10,180 per unit for elderly housing developments, which reduces impact fees to only $2,749 per unit for public safety. Maryland’s Environmental Resource & Land Information Network shows a stream passes by the west and south edge of the site, making a small portion of the site challenging to develop.
Property Taxes
| Parcel Number | 20-2211688 | Improvements Assessment | $0 |
| Land Assessment | $136,500 | Total Assessment | $136,500 |
Property Taxes
