JLL is pleased to present for sale 15901 Frederick Road (“The Property”), a 43,500 SF boutique office building currently owned by Educational Systems Federal Credit Union. Constructed in 2005, the three-story asset is strategically located in Rockville, Maryland and presents the opportunity for a variety of potential uses and business plans. The favorable CR zoning provides future ownership significant multifamily and commercial development optionality. Current zoning allows for a maximum FAR of 2.0 with up to 1.0 FAR of commercial development and up to 1.5 FAR of residential development. The Property also lies within the maximum expansion limits of the City of Rockville and annexation into the City could provide zoning flexibility as well as additional achievable density.
- Institutional Acquisition Opportunity with Beneficial Current Zoning Allowing for Business Plan Optionality and Multiple Uses
- Core Multifamily & Commercial Redevelopment Opportunity with Ideal Site Shape for Scalability and Efficiency
- Outstanding Transit Access Walkable to the Shady Grove Metro Station (Red Line)
- Located in the Heart of the I-270 Biotech Corridor with Direct Access to the National Cancer Institute & Adventist HealthCare Shady Grove Medical Center
- Proximity to Key Demand Drivers Adjacent to Downtown Crown & Rio Washingtonian Center (870,000 SF of Retail)
- Very Limited Future Multi-Family Supply in the Submarket Creating Strong Demand to Supply Imbalance And Outsized Rent Growth
- Ideal Resident Demographics Median Household Income of $113K