403 E Diamond Ave Gaithersburg, MD 20877
Estimated payment $4,424/month
Highlights
- 0.25 Acre Lot
- Multi-Tank Hot Water Heater
- Hot Water Baseboard Heater
- No HOA
- Wood Siding
About This Home
Prime Redevelopment Opportunity in Historic Downtown Gaithersburg
Ask Listing Agent about Seller Financing Options. Seller is open to holding a first deed of trust for a buyer while they proceed with their plans.
Property Overview includes
Location Downtown Gaithersburg
Lot Size 0.27 acres
Property is ready for redevelopment
Survey is available in documents
This unique property offers an exceptional redevelopment opportunity in the heart of historic downtown Gaithersburg. Situated on a 0.27-acre lot, this prime location is ideal for developers and investors looking to tap into the growing potential of the area.
Key Features include
Strategic Location - Located in the vibrant downtown area, this property is in close proximity to entertainment hubs and essential amenities. It is just 0.2 miles from the MARC Train Brunswick Line, providing convenient commuter access, and 2.9 miles from the Metro Station, ensuring easy connectivity to the broader DC metropolitan area.
Development Potential - The lot is suitable for constructing more than a two-level building, offering ample space for various commercial or mixed-use developments. With approval for demolition from both the city and CSX, the existing structure can be removed, allowing for a fresh start on this prime site.
Comprehensive Planning - environmental tests and construction plans are available for review during due diligence. These include stormwater management, soil tests, a forest conservation plan, and a traffic flow assessment, giving a buyer confidence that many foundational aspects for redevelopment are in place.
Parking Capacity - The property offers the potential for up to 12 parking spaces, a valuable asset in downtown Gaithersburg, where parking availability can significantly enhance the appeal and functionality of the development.
Not Historically Protected - The property is not deemed historical, and the seller has obtained the necessary approvals, providing flexibility for redevelopment without the constraints of historical preservation regulations.
Important Notices -
Safety Warning - Please do not enter the existing building on the property. Entry is at your own risk due to safety concerns.
Document Availability - The survey and additional documentation are available for review, providing detailed insights into the property’s potential and requirements for redevelopment.
· Please note that utilities to the property have been cut/disconnected, which will need to be re-established as part of the redevelopment process.
This property represents a rare opportunity to invest in and transform a key piece of downtown Gaithersburg. With its excellent location, extensive planning resources, and flexible redevelopment options, it is an ideal choice for developers looking to create a landmark project in a growing community.
Take the first step toward realizing the potential of this exceptional redevelopment opportunity in historic downtown Gaithersburg!
Listing Agent
Keller Williams Realty/Lee Beaver & Assoc. License #0225075345 Listed on: 08/30/2025
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $8,051
Year Built
- Built in 1899
Lot Details
- 0.25 Acre Lot
- Property is zoned CBD, Central Business District
Home Design
- Converted Dwelling
- Wood Siding
- Stick Built Home
Interior Spaces
- 1,872 Sq Ft Home
- Property has 2 Levels
Parking
- 12 Open Parking Spaces
- 12 Parking Spaces
- Private Parking
- Parking Lot
Utilities
- Window Unit Cooling System
- Hot Water Baseboard Heater
- Multi-Tank Hot Water Heater
- Phone Available
Community Details
- No Home Owners Association
- Gaithersburg Town Subdivision
Listing and Financial Details
- Tax Lot 1
- Assessor Parcel Number 160902670784
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,051 | $596,333 | -- | -- |
| 2024 | $8,051 | $557,267 | $0 | $0 |
| 2023 | $7,510 | $518,200 | $357,600 | $160,600 |
| 2022 | $7,305 | $515,000 | $0 | $0 |
| 2021 | $7,283 | $511,800 | $0 | $0 |
| 2020 | $13,916 | $508,600 | $357,600 | $151,000 |
| 2019 | $6,895 | $502,233 | $0 | $0 |
| 2018 | $6,809 | $495,867 | $0 | $0 |
| 2017 | $6,227 | $489,500 | $0 | $0 |
| 2016 | -- | $442,500 | $0 | $0 |
| 2015 | -- | $395,533 | $0 | $0 |
| 2014 | -- | $348,500 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/30/2025 08/30/25 | For Sale | $690,000 | -- | $369 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $615,000 | None Listed On Document | |
| Deed | $422,500 | -- | |
| Deed | $422,500 | -- | |
| Deed | $422,500 | -- | |
| Deed | $422,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $120,000 | Commercial |
Source: Bright MLS
MLS Number: MDMC2197662
APN: 09-02670784
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