Property ID : CourthouseSquare
Sold Comp $3,500,000.00 - Commercial, Retail Stores
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.
Transaction closed: February 14, 2017
Final Sales Price: $3,200,000
$96.15 per sq.ft.
Cap Rate 8.9