1111 Bonifant StSilver Spring, MD 20910

Property Details for 1111 Bonifant St

Year built

1963

Construction

BRICK

Lot size

0.08 AC

Property size (Sq ft)

7,040 SF

Zone code

CR8.0

Property type

Office buildings

APN

13-01046190

APU

1301046190

Description

This fee-simple ownership opportunity presents a rare chance to acquire a three-story, 10,560-square-foot executive office building in the heart of Silver Spring, Maryland. Located at 1111 Bonifant Street, this Class B building, constructed in 1962 and renovated in 1982, sits on a 3,520-square-foot lot and boasts a coveted single-tenancy configuration. Its strategic location offers unparalleled access to the Silver Spring Metro Red Line station, the Sarbanes Transit Center, and the future Purple Line Silver Spring Station, ensuring convenient commuting for employees and clients. The property benefits from its proximity to downtown Silver Spring's vibrant dining and shopping scene, as well as the central arts district. A significant advantage is its direct adjacency to a 1,677-space public parking garage, providing ample parking for occupants and visitors. The building also features prominent landmark signage, enhancing its visibility and brand recognition. Zoned CR-8 H 200, this property presents potential for future redevelopment, offering significant long-term investment prospects. The asking price for this exceptional property is $4,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,490,818

  6.5%

  $1,376,140

  7%

  $1,277,844

• Comparable approach

  Method

  Valuation

  Relative Method

  $533,313

  Geo Method

  $1,175,750

• Alternative Use

  Use

  Valuation

  Residential

  $1,706,414

  Hospitality

  $1,563,066

  Educational

  $1,300,452

  Medical

  $1,345,177

  Retail

  $2,022,926

Location Insight

City

Silver Spring

County

Montgomery

State

Maryland

Latitude

38.9935

Longitude

-77.029

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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