316 Main St, Gaithersburg, MD 20878

Property Description

Rare opportunity in the heart of Kentlands! This unique four unit mixed use building offers exceptional potential for passive income in one of Montgomery County's most desirable and walkable communities. Featuring steady long term tenants in the retail spaces and second floor apartment, this property provides immediate income with tremendous upside. Recent high end renovations to the apartment and basement showcase quality finishes and thoughtful design. Live in the top floor residence while enjoying income from the other units, or add this exceptional asset to your investment portfolio. Just steps from Whole Foods, shops, restaurants, and all that Kentlands has to offer, this is truly a rare offering that combines lifestyle and investment potential. Income from day one, with room to grow. The first floor is leased to an established hair salon whose renewal options could extend through 2033, with 2% annual rent increases, a tenant-funded build-out, and two reserved parking spaces. The second floor is leased to a professional office tenant on a flexible month-to-month basis, with property tax increases passed through to the tenant. Tenants pay their own phone, internet, insurance, and interior upkeep; the owner covers gas, water, electric, and major building systems. Additional future income potential from the top-floor residential unit and the lower-level commercial space. Hurry this one will not last!