20311 LAPPANS ROAD Boonsboro MD 21713

Modern, multi-tenant, medical office building located within the northern town

limits of Boonsboro. It is further located along the south side of Lappans Road (MD. Route 68) just

west of it's signalized intersection with Old National Pike (U.S. Alternate Route 40). The subject

contains 5 total acres which was recently subdivided into two lots of record. The subdivision was

approved on 08/23/2022. Lot I is near rectangular in shape and contains I .44 acres. It is fully

developed for the leased medical office building and associated site improvements (i.e. paved

driveway and parking lot areas, landscaping, sidewalks, etc.). The remaining lands or Lot 2

contains 3.56 acres, is L-shaped, and mostly wooded with some cleared sections within the southeast

portion of the property. Can be purchased separately. In the same general vicinity, the owner recently built a storage building

(32' x 40'). It is owner-occupied and not leased. In consideration to the medical office building,

it is demised into four medical office related suites and all are currently leased. The tenants and

leasing conditions will be discussed later in the report. The owner reported he made about $260,000 in renovations since he

purchased the property. There roof and the HVAC are all 2 years old.