10-Year Leased State of Maryland Building
Maryland State Department of Human Services WITH CONFIRMED BUDGET FUNDING State of Maryland Backed L
Marketing description
Marcus & Millichap, together with Lee & Associates is pleased to exclusively represent the ownership of 125 Comet Drive, Centreville, MD (the "Property") for acquisition. The Property is a 100% leased, single-tenant office building totaling 20,160 square feet in Centreville, MD.
Specifically built-out for the State of Maryland Department of Human Services (DHS), the Property has been occupied by DHS for over 20 years, demonstrating the tenant’s long-term commitment and the critical nature of this location to their operations.
The Property serves as a key government facility, providing essential human services to the local community and reinforcing its importance to the State of Maryland. The lease structure is backed by the state government, ensuring long-term financial stability for investors.
On a new 10-year lease; this Property represents an excellent opportunity for investors seeking a stable, long-term income stream backed by the State of Maryland. With a mission-critical tenant, a government-backed lease, and an established history of occupancy, this asset offers exceptional risk-adjusted returns and long-term value appreciation potential.
Investment highlights
✓ EXCELLENT CREDIT Standard & Poors AAA, Moodys Aa1 Credit rating
✓CONFIRMED BUDGET IN PLACE – State of Maryland is funding and will fund the DHS Center
✓ABOVE MARKET RETURN – Being offered at an 8.15% Cap Rate, with a 12% rent increase in year 6
✓ SUPERIOR PARKING RATIO – Unlike historic Centreville, the Property offers a 5:1000 ratio
✓ WALKABLE convenience to restaurants, services, supermarkets and other retail
✓ SPECIFIC BUILDOUT including an employment center, interview center, and security.
✓COUNTY SEAT LOCATION – Centreville is the County Seat and the center of government services
✓TENURED STABILITY - Over 20 years of continuous occupancy by DHS, renewal at increased rents
✓LIMITED ZONING FOR DEVELOPMENT – County has protected land and limited zoning in the area
✓VALUE-ADD OPTIONS - The 5/1000 parking ratio allows for future medical and retail uses
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