601 & 605 Eastern Avenue NE

Description

We are pleased to exclusively represent the owners of 601 & 605 Eastern Avenue in Capitol Heights, Maryland " a compelling mixed-use investment offering comprised of an income-generating commercial/office building and an adjacent vacant lot, both situated in the municipality of Fairmount Heights. This is a unique opportunity to acquire 6,336 SF mixed-use property with significant upside through renovations, and strong long-term value and purchase an adjacent .22 acre parcel with redevelopment potential, in an improving Prince Georges County submarket just minutes from Washington, D.C.The property at 601 Eastern Avenue is a 6,336-square-foot, two-story building with a mix of office and residential configurations. The existing floor plans support a variety of potential uses including medical office, professional services, or creative workspace, along with apartment-style rooms that could be converted or leased. Currently zoned CGO (Commercial General Office), the building features multiple entrances for future tenants, and open interior space for a large or small office tenants. The structure was originally built in 1969 and, while well-maintained, it is in need of cosmetic and systems upgrades, making it a true value-add opportunity for a hands-on investor or developer.Included in the offering is 605 Eastern Avenue, a 9,705-square-foot vacant residentially zoned lot (RSF65) directly adjacent to the main structure. With street frontage and over 0.22 acres of land, this lot offers flexible development options"whether as additional parking, future multifamily or residential construction, or green space to enhance tenant experience.Capitol Heights and the neighboring Fairmount Heights community are experiencing increased investor interest due to their proximity to the D.C. line, accessible transit options, and relatively affordable acquisition costs. Local home values are trending upward, with strong rental demand driven by families, professionals, and small businesses seeking more space at a lower price per square foot than in the district. The nearby Addison Road-Seat Pleasant Metro Station provides direct access to downtown D.C., while the Eastern Avenue corridor continues to attract new development activity and municipal attention.This dual-parcel and build acquisition provides a rare opportunity to invest in a mixed-use asset with clear operational upside and long-term redevelopment potential. Whether used as a cash-flowing commercial building with added land value or for a business owner seeking a new space, 601 & 605 Eastern Avenue offers flexibility, scale, and strategic location.