8700 1st Ave
Silver Spring, MD 20910
Corner Development Site In Silver Spring · Office Property For Sale

The Feldman Group in collaboration with The Zupancic Group of Marcus & Millichap is pleased to present the following development site located in the vibrant Silver Spring neighborhood of Maryland. The site is located at 8700 1st Avenue and is zoned CR-3.0, HT-90, which is intended for larger downtown, mixed-use, and pedestrian oriented areas in close proximity to transit options such as Metro, light rail, and bus stops. The subject property is an easy five-minute walk from the Silver Spring Metro Station, which serves the Red Line trains. The property is situated on the corner of Fenwick Lane and 1st Avenue, with a gross tract-area of 18,316 square feet. The zoning allows for an FAR of 3.0 and a max height of 90 feet, which provides this site with a gross buildable area of 54,840 SF. The project will create approximately 50 residential units across eight stories. Downtown Silver Spring is less than a 10-minute walk from the subject property. Silver Spring boasts strong local and national retailers, around Georgia Avenue, with convenient access to the metro. Some staples include Giant, Whole Foods Market, and H&M, Dave & Busters, and Taylor Gourmet. The Octave 1320, which delivered in 2014, sold out all 100 condominium units, sits adjacent to the subject property. The Octave targeted first-time home buyers at an affordable price of just under $600 per square foot. This comparable project has a long waitlist of potential purchasers with aspirations to own a metro-centric dwelling in Silver Spring.