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28238872
28238873

810 Chesapeake Drive, Cambridge, MD 21613

SVN | Miller Commercial Real Estate Salisbury
Listed by SVN | Miller Commercial Real Estate Salisbury
$9,300,000
368 days on market
Updated 6 days ago

810 Chesapeake Drive

Details
Property Type Industrial
Sub Type Manufacturing, Warehouse
Square Footage 70,000
Net Rentable (SqFt) 70,000
Units 1
Cap Rate 6.93%
NOI $644,700
Tenancy Single
Brand/Tenant Tree House Foods
Lease Type NNN
Lease Term 6
Lease Expiration 01/17/2028
Remaining Term 1.6
Rent Bumps Yes
Broker Co-Op Yes
Class A
Year Built 2022
Buildings 1
Acreage 4.390
Zoning Industrial
Parking Spaces spaces
Investment Type Net Lease
Lease Commencement 08/03/2022
Ceiling Height 27
Loading Docks 6
Dock High Doors 6

70,000 SQ.FT. Food Grade Industrial Facility Sale or Lease

Marketing description

Now Vacant and availlable for immediate occupancy - Sale - Lease or Sublease - This offering consists of a single-tenant NNN industrial investment property located in Cambridge, MD constructed in 2022. Existing tenant is under obligation to pay rent through 1/2028. The current rent is $644,700 plus NNN with 3% annual increases. The building is 70,000 sq.ft. on 4.39 acres with a shared common entrance and common area parking in addition to the private parking.

The current tenant, Bay Valley Foods—a division of TreeHouse Foods and the nation’s leading pickle and pepper supplier—will not be renewing its lease. The property is now available for sublease, long term lease or sale as vacant for a user. The Landlord and Tenant maintain a positive working relationship, allowing flexibility for a sublease through January 18, 2028, or the potential for a longer-term lease arrangement.

Lease rate is $9.75 per sq.ft.

As of 1/2025 there are 24 months of income remaining with add’l $60,000 annual income availalbe with signing of solar roof top lease.

Investment highlights

  • NOW VACANT AND AVAILABLE FOR IMMEDIATE OCCUPANCY - SALE/LEASE OR SUBLEASE OPTONS

  • NNN Industrial Investment

  • #1 supplier in their industry nationwide

  • 3% annual increases.

  • 2 year old construction

Listing Contacts

SVN | Miller Commercial Real Estate Salisbury
Listed by SVN | Miller Commercial Real Estate Salisbury

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$644,700.00
$53,725.00/mo

Valuation Metrics

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DSCR
6.93%
Cap Rate
6.93%
ROI

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