acquisition & development opportunity 10619 …...mac realty advisors, llc, as exclusive agent,...
TRANSCRIPT
PROPERTY OVERVIEW
MAC Realty Advisors, LLC, as exclusive agent, is pleased to offer the opportunity to acquire and develop 10619 Connecticut Avenue (“Property”) in Kensington, Maryland. The Property is a 46,052 square foot (1.05 acre) lot with potential for approximately 115,130 developable square feet; however, according to the Montgomery County guidelines, there is significant additional FAR
gained from developing affordable housing on the site. The Property’s location within Kensington, Maryland provides easy access to top retail amenities and job opportunities in nearby Bethesda, Silver Spring, and Rockville. Additionally, the Property is a short walk to the Brunswick MARC train station, which is less than a 30 minute ride to Union Station in Washington, DC.
PROPERTY SUMMARY
ADDRESS:10619 Connecticut AvenueKensington, MD 20895
ZONING:CRT-2.5 C-2.0 R-2.0 H-75LAND AREA: FAR:46,052 SF 2.5 Gross Potential SF:Standard Method - 115,130 SF Optional Method - Significant increase for MPDU’s/Affordable Housing
REA LT YADV I SORS
Andrew McAllister Executive Director | 202.296.0007
Bruce LevinExecutive Director | [email protected]
Bill Gribbin Associate | 202.618.5110
ACQUIS IT ION & DEVELOPMENT OPPORTUNITY
10619 CONNECTICUT AVENUEKENSINGTON | MONTGOMERY COUNTY | MARYLAND
CONNECTICUT AVENUE
Traffic Count: 54,192 Vehicles Per Day
PLYE
RS M
ILL
ROA
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PROPERTY
HOW
ARD AVEN
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Co
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ticu
t Ave
University Blvd
FRANKLY PIZZAWHIPPO’S CLOCK SHOP
K TOWN BISTROCOUNTRY CUPBOARD
PATTRAPON BRIDALJANTIQUES
Plyers Mill Rd
ROCKVIEWELEMENTARY
Rock Creek
Knowles Ave
Parkwood D
rKENSINGTON
SHOPPING CENTER
WheatonVeirs M
ills Rd
CVS PHARMACYCHINA GOURMET
DONUT KINGKENSINGTON PHARMACY
KENSINGTON PIZZA & KABOB HOUSE
OAKLAND TERRACE
ELEMENTARY
1.0 Mile
0.50 Mile
1 23
4
568
7
9
10
1112
19
13
14
15
16
17
18
ROCK CREEK PARK WESTFIELD
MALL
Total Retail: 1,650,334 SF
Anchor Stores:CostcoDick’s
Sporting Goods
J.C. PenneyMacy’sTarget
10619 Connecticut Ave
PROPERTY HIGHLIGHTS
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REA LT YADV I SORS
Andrew McAllister Executive Director | 202.296.0007
Bruce LevinExecutive Director | [email protected]
Bill GribbinAssociate | 202.618.5110
1. Howard Avenue Deli2. Aandh Seafood3. Dunkin Donuts4. Baskin Robbins5. Savannah’s American Grill
6. Gene’s Costumes7. Dinette & Stools8. Acanthus Antiques9. Soccer American10. Old Town Market
DINING RETAIL
11. M&T BANK12. Capital One Bank13. SunTrust14. Anytime Fitness15. Kensington Public Library
OTHER
16. Kensington Arts Theatre17. Montgomery County Government Library18. Post Office19. Kensington Fire Department
The Property is in Kensington, Maryland ideally located on the corner of Connecticut Avenue and Plyers Mill Road. The Property’s location within Montgomery County, one of the most prosperous and highly educated counties in the nation, not only provides easy access to major employment centers such as Silver Spring, Bethesda, Rockville, and Washington, DC, but
is also walking distance to many retailers and amenities, including Safeway, Starbucks, Chipotle, Hardware City, Five Guys, Capital One, and others.
✦ CRT Zoning permits an FAR of 2.5 for mixed-use development. This allows the site to have a maximum development potential of 115,130 square feet and a maximum height of 75 feet. Based on the Optional Method of Development the
county allows additional FAR for affordable housing development.
✦ The Property is located just two blocks from Brunswick MARC Train Station. This provides easy access to major employment centers such as Silver Spring (ten minutes) and downtown Washington, DC via Union Station (30 minutes).
✦ The Property is a seven minute drive to the Wheaton Metro Station on the Red Line and a six minute drive to I-495, the Capital Beltway.
✦ The intersection, Connecticut Avenue and Plyers Mill Road, is one of the most traveled intersections in Montgomery County. The average traffic count for this intersection is 54,192 vehicles passing the Property each day.
✦ The Property earned a Walk Score Rating of 86 out of 100. It is located adjacent to the Kensington Safeway, and is a 5 minute walk from CVS Pharmacy, Hardware City, M&T Bank, Capital One Bank, Chipotle, Starbucks, Dunkin’ Donuts, 7-Eleven, Kensington Farmers Market, and many other amenities.
✦ The Property is located within 1 mile of the 1.65 million square foot, Wheaton Mall, home to 195 different stores and services including Costco Wholesale, Dick’s Sporting Goods, Giant, Target, Best Buy, Verizon, UPS, and many other well-known retailers.