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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.

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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

Address

  • City: Baltimore
  • State/county: Maryland
  • Neighborhood: Glen Burnie
  • Country: United States

Detail

Updated on April 19, 2019 at 1:52 pm

  • Price: $3,200,000
  • Property Type: Commercial
  • Property Status: For Sale - COMP

Contact info

Ben Frederick Realty
Ben Frederick Realty

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