703 & 705 Park Ave

• Sales Price: $4,250,000
• Combined lot size of 20,002 SF
• T-1 Zoning

Property Description

703 & 705 Park Avenue represent a unique development opportunity in the highly coveted City of Falls Church. With a total land area of 20,002 square feet and T-1 Zoning, the properties are currently improved by two commercial buildings, a 1,724 square foot building at 703 Park Ave and a 2,581 square foot building at 705 Park Ave, respectively. The City of Falls Church recently passed a zoning amendment for T-1 zoned properties, thereby increasing the density potential for residential development, which most likely represents the highest and best use. An investor may also utilize the existing properties as a covered land play while refining their development plans. Priced at $4,250,000, this offering taps into the existing strong market demand for housing, in an urban environment where residential housing commands a premium.