33,280 Retail Center for Sale in Glen Burnie

33,280 Retail Center for Sale in Glen Burnie

33,280 Retail Center for Sale in Glen Burnie

7497 Baltimore Annapolis Blvd, Glen Burnie, MD 21061, USA

SOLD COMP

$3,500,000

Property ID :

 CourthouseSquare

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Sq Ft.
33280

Description

Under same ownership since 1985, this is a rare opportunity to secure a solid performing income-producing commercial property in the heart of Glen Burnie, the most populous area of Anne Arundel County.  Near full-occupancy, this property is offered at 8.67 Cap Rate with tenants paying their own utilities and their share of taxes, insurance, and common area maintenance charges.

The location is fabulous – at the intersection of two busy streets – Ritchie Hwy (MD Route 2) with a traffic count of 25,000 vehicles per day, and Baltimore-Annapolis Boulevard (MD 648) with traffic counts of 11,000 vehicles per day.  BWI Airport is a short 12 minute drive.  Easy connections to I-97, I-95, I-695, and the Arundel Expressway make this an ideal location from which to serve a large customer base.  The Central Light Rail Line is 1 mile away.  The B&A Trail, a rails-to-trails paved recreation path, is just across the street.

click here to download the complete offering memorandum

Investment Summary:
$3,500.000  investment

Transaction closed:  February 14, 2017
Final Sales Price:  $3,200,000
$96.15 per sq.ft.
GRM:  7.7
Cap Rate 8.9

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