Set on a rare and expansive 2.82-acre parcel in the heart of Takoma Park—just over the Washington, D.C. line—117 Elm Avenue presents a compelling opportunity for visionary developers, institutional users, and investors. Most recently operated as a private school, the property is located within Montgomery County’s R-60 residential zone, offering a variety of redevelopment possibilities in one of the region’s most walkable and desirable neighborhoods. Surrounded by mature trees and historic homes, and just minutes from the Takoma Metro Station, this site combines location, scale, and flexibility—an ideal canvas for transformation. Whether the vision is residential, a condo development, senior living, or an institutional campus, the property’s zoning and size support a broad range of potential uses. Additionally, currently operating schools can take advantage of this turn-key property and elevate its potential. The R-60 zone permits single-family detached homes by-right and allows for a host of conditional uses that cater to residential, institutional, and community needs. Developers may explore options such as townhomes or attached units (via special exception), senior housing, day care or medical facilities, or even private educational or religious institutions. Office use is also conditionally allowable under the zoning ordinance. The property’s flat topography, ample street frontage, and proximity to transit further enhance its redevelopment viability. As a school, the building features dozens of classrooms, multiple bathrooms, a regulation-size gymnasium with stage, administrative offices, a kitchen, and more. Located just steps from downtown Takoma Park and the D.C. line, the site is walkable to shops, restaurants, parks, and public transportation. This is a rare chance to reimagine a substantial landholding in a neighborhood where demand for thoughtful, community-focused development continues to grow. Buyers are encouraged to consult with Montgomery County Planning to explore the full range of permitted and conditional uses under the R-60 zoning ordinance. With strong fundamentals and an unbeatable location, 117 Elm Avenue is poised to become one of the region’s most impactful residential or mixed-use redevelopments. A preschool currently leases a small portion of the lowest level of the building; the remainder of the building is vacant. The lease may convey or be terminated, depending on the buyer’s preference.