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24411153
24411154

1791 Olive Street Capitol Heights MD 20743, Capitol Heights, MD 20743

JG
MD 0671479, VA 0225237596 (+2)
United Real Estate
Listed by United Real Estate
$2,500,000
347 days on market
Updated 117 days ago

1761-1797 Olive Street Condo

Details
APN 3792876/023792884/023792892
Property Type Industrial
Sub Type Warehouse
Net Rentable (SqFt) 12,178
Units 3
Cap Rate 10.00%
NOI $243,560
Occupancy 33%
Tenancy Single
Lease Type NNN
Lease Term 3
Lease Expiration 04/30/2028
Remaining Term 3
Rent Bumps Yes
Lease Options 3
Pro-Forma Cap Rate 10.00%
Pro-Forma NOI $243,560
Price per SqFt $189
Class B
Year Built 1952
Year Renovated 2000
Buildings 3
Stories 1
Lot Size (SqFt) 3,622 - 12,178
Zoning Heavy Industrial (I-2)
Parking Spaces 20 spaces
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 11/01/2024
Ground Lease No
Ceiling Height 23
Loading Docks 3
Dock High Doors 14
Sale Condition For sale by owner

Industrial | 10.00% CAP

Marketing description

Legacy Plus Group is excited to offer this unique opportunity to purchase a portfolio of three rare adjacent properties with a covered loading dock. Located in an industrial condo business park, for sale in Capitol Heights, Maryland, near the DC border.

These industrial condos are perfect for investors looking to take advantage of rising industrial lease rates and shrinking industrial inventory for a contractor or owner/user needing space conveniently located in Maryland and Washington, DC. Hard to find I-2 Zoning for heavy industrial with abundant surface parking, 3 loading docks (1 per unit), covered loading area, 23’ ceiling height, shared parking lot with gated security, Ideal for investor or owner/user. The 1789 and 1791 units are fully available. The unit 1793 Is Leased NNN until 2028- with an option to three additional years for until 2031. All 3 units are adjacent, but currently demised, hard to find I-2 zoning for heavy industrial uses with abundant shared surface parking. Offer Summary/Scenario>

-Unit 1789 RSF4,307 X $20=GPI$86,140)

- Unit 1791 RSF4,249 X$20=GPI$84,980)

- Unit 1793 RSF3,622X$15.84NOI$57,386)This unit is currently leased until 05/30/2028, with the option to three additional years until 05/30/2031.

The total RSF for all units is RSF12,178/SF$20=GPI$243,560)( V=$2.5M/Income$243K/ReturnCAP.097%)This scenario is based on the area and the current market prices. It is recommended for you to do your own research to find out all of the present market prices.

If you are looking on the MLS please search the following ID’s MDPG2151102. MDPG2151124

1789 Olive Street offers a highly functional warehouse layout ideal for businesses with manufacturing, storage, distributing center great workspace with the added benefit of on-site storage. Upon entering through the main entrance, you're greeted by a spacious interior office build-out stretching the unit’s full depth. Multiple private rooms, open workspaces, and adaptable office areas make it suitable for various operations, from small businesses to satellite offices or field coordination centers.

The unit also features a front-loading bay with a 14- foot roll-up door, providing convenient access to a dedicated storage section at the front of the building.

This setup is perfect for companies needing regular shipments, equipment access, or fulfillment space without compromising their front-end office environment. The layout offers substantial operational flexibility in a well-connected industrial location.

Investment highlights

COMMERCIAL PROPERTIES FOR SALE IN CAPITOL HEIGHTS MD. WITHIN MINUTES TO THE DISTRICT OF COLUMBIA.

United Real Estate is excited to offer this unique opportunity to purchase a portfolio of three rare adjacent small bay covered dock industrial condo units for sale in Capitol Heights, Maryland, near the DC border. These industrial condos are perfect for investors looking to take advantage of rising industrial lease rates and shrinking industrial inventory for a contractor or owner/user needing space conveniently located in Maryland and Washington, DC.

Hard to find I-2 Zoning for heavy industrial with abundant surface parking, 3 loading docks (1 per unit), covered loading area, 23’ ceiling height, parking lot with gated security, Ideal for investor or owner/user.

Price at $2,397,000.00

Cap rate is 12%

Projected Rental Square Footage Price $20.00> NOI > 243,560

All projections are based on a Triple Net Lease Income. (NNN)

The buildings SF is $12,178*

Listing Contacts

JG
MD 0671479, VA 0225237596 (+2)
United Real Estate
Listed by United Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$243,560.00
$20,296.67/mo

Valuation Metrics

0
DSCR
9.74%
Cap Rate
9.74%
ROI

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Additional Information

Name
Jose Guzman
License
0671479
Brokerage
United Real Estate
Brokerage Phone
240 660 7291
Title
Legacy Plus Group Real Estate Services
Brokerage Address
8000 Towers Crescent Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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