Listed by Mackintosh Commercial Inc.
$5,600,000
State of Maryland
Details
Property Type Office
Sub Type Traditional Office
Square Footage 53,705
Cap Rate 8.00%
Tenancy Single
Lease Term 10
Lease Expiration 09/30/2033
Pro-Forma NOI $441,271
Price per SqFt $104
Broker Co-Op Yes
Year Built 1930
Year Renovated 1990
Lot Size (SqFt) 28,714
Zoning C-3
Tenant Credit Credit Rated
Lease Commencement 10/01/2023
Credit Tenancy
Marketing description
Scheer Partners, as the exclusive representative to the Seller, is pleased to present a rare opportunity to acquire the fee simple interest in 122 N. Potomac Street (the “Property”), located in Hagerstown, Maryland.
Premium Yield on AAA-Rated Tenancy, 10-Year Lease
The Washington County Social Services Building is 100% leased by the State of Maryland Department of Human Services which has an S&P bond rating of AAA. The State of Maryland agency has a 33-year occupancy history at the property and a new 10-year term through 2033.
Investment highlights
-New Ten (10) Year Lease Until 2033
-Long-Term Historical Occupancy
-Credit Tenancy- State of Maryland (AAA Bond Rating)
Listing Contacts
Listed by Mackintosh Commercial Inc.
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