St. Barnabas Service Park
For Sale: 11+ Acre Infill Retail & Industrial Service Park
Marketing description
Institutional Property Advisors, a division of Marcus & Millichap, is pleased to exclusively represent ownership in the opportunity to acquire of Saint Barnabas Service Park (the “Property”). The Property is an 11+ acre infill DC area assemblage offering a rare a “best of both worlds” opportunity. Zoned both for continued automotive sales and service, retail, office, and industrial outdoor storage uses, it also benefits from MXT zoning and an approved development plan extending through 2042. Family ownership has operated the Property for decades with a focus on automotive uses, and until recently there has been little emphasis on bringing rents to market levels. Recent renewals and renewal proposals illustrate that the Property is leased well under market. The property offers roughly 200,000 SF of free outdoor parking and access throughout complex. However, there are 11 fenced lots totaling just under 100,000 SF that have begun to be leased as separate IOS lots, creating nearly half a million in new revenue generation in the coming years. Looking forward, the assemblage also offers substantial long-term upside through its approved development plan allowing for more than 500,000 SF of residential, retail, or mixed-use development. In sum, the potential of the Property can be reached in the near term by marking rents to market, or through development in the longer term.
Investment highlights
- RARE 11-ACRE INSIDE-THE-BELTWAY ASSEMBLAGE – 100% LEASED - 11.11-acre assemblage inside the Capital Beltway, 100% leased with rare industrial and automotive uses permitted by right, offering both stable income and significant value-add or redevelopment potential.
- FLEXIBLE ZONING WITH REDEVELOPMENT OPTIONALITY - IE and MXT zoning allows for by-right industrial uses today while supporting future mixed-use redevelopment. The site also has an approved CSP and TCP plan for over 500,000 SF of retail and residential development.
- BELOW-MARKET RENTS WITH MARK-TO-MARKET UPSIDE - Current leases are substantially below market, including showroom space along St. Barnabas Road, automotive/industrial bays, and more than 97,400 SF of IOS yard area historically bundled with leases, offering clear rent growth as leases roll.
- ADDITIONAL INCOME FROM DEMISED IOS LOTS - The Property includes 88,600 SF of leasable building area plus eleven demised Industrial Outdoor Storage (IOS) lots. These IOS areas have historically been included with tenant space at no additional charge, creating an opportunity to lease separately and increase revenue.
- MARKET LEASING MOMENTUM - Immediate tenant demand for separately leased IOS lots drove multiple long-term leases at $4/SF. The United States Postal Service has also proposed a 40%+ rent increase years early—pending Seller approval—highlighting strong embedded rent growth.
- ESTABLISHED AUTOMOTIVE & SERVICE HUB - The corridor is anchored by automotive and service-oriented uses supported by zoning constraints and limited competing supply.
- STRONG AUTOMOTIVE LEASING FUNDAMENTALS - Automotive-compatible commercial space historically experiences rapid absorption and sustained low vacancy levels.
- GRANDFATHERED DEALER LICENSES – IRREPLACEABLE COMPETITIVE ADVANTAGE - Existing automotive dealer licenses run with the Property and tenants are grandfathered in, creating a barrier to entry that cannot be replicated elsewhere in the submarket.
- LIMITED COMPARABLE INFILL OPPORTUNITIES - Large contiguous infill parcels with existing improvements are increasingly difficult to assemble inside the Capital Beltway.
- POSITIONED WITHIN THE BRANCH AVENUE CORRIDOR REVITALIZATION PLAN - Located inside the Central Branch Avenue Corridor (BAC) Sector Plan, a county-backed initiative driving long-term infrastructure and economic investment.
- HIGH-VISIBILITY ARTERIAL FRONTAGE - Nearly 1,000 feet of frontage along Saint Barnabas Road delivers exceptional exposure, access, and sustained tenant demand.
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