After twenty years and two million TV commercials, you could own "THE JEWELRY EXCHANGE BETHESDA!!!" The longtime jewelry store closed just over a month ago at 7747 Old Georgetown Road, and their voiceover guy has gone back to his day job as a boxing ring announcer. But now the vacant building itself is on the market. The asking price is $4,450,000.
You won't find "thousands of GIA diamonds" inside, but you will find a jewel of a potential redevelopment opportunity. Can you assemble the adjoining properties along Old Georgetown and St. Elmo Avenue?
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| Potential lot assembly with adjoining properties shown in red |
Alternatively, it could be a cash-generating investment to maintain it as a retail building with the rare amenity of your own surface parking lot downtown. You might even be able to divide it into two spaces, and charge two retail/restaurant tenants for monthly rent. The building is being offered for sale by Conley Management, Inc.
There's lots of potential for this site. Hopefully it doesn't turn into another moribund retail bank branch.
ReplyDeleteSounds intriguing, especially considering it's not all *that* much more than some of the popsicle-sticks-and-bubblegum mega-mansions getting thrown up (sic) around the area.
ReplyDeleteC'mon Robert, post my comment. It's funny and does not disparage anyone.
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