A retail center in Bethesda’s Woodmont Triangle neighborhood has sold for $4.35 million, according to land records first reported by Maryland Newsletters.
Per the report, the property located at 4923-4933 St. Elmo Avenue, was purchased by ZS Elmo LLC, a partnership headed by Daniel Mermel, according to paperwork filed in Montgomery County land records.
The two-story retail center contains approximately 9,800 SF of space on a 0.21-acre site between Norfolk Avenue and Old Georgetown Road. It’s currently the longtime home of Chicken on the Run and the newer CoffeeFi Roastery. Built in 1966, the property features multiple tenants and includes eight onsite surface parking spaces, along with immediate access to an adjacent Montgomery County public parking garage.
A previous marketing listing for the property highlighted both its current income potential and future redevelopment possibilities. The listing noted that approximately 1,558 SF of retail space was vacant, creating an opportunity for lease-up and increased cash flow.
The property is zoned CR-3.0, a designation that allows for higher-density mixed-use redevelopment. The sale comes as downtown Bethesda continues to experience significant investment and redevelopment activity, with numerous residential, retail, restaurant, and mixed-use projects underway or planned throughout the area. No plans for the property have been publicly announced.
