10601 Baltimore Ave Beltsville, MD 20705-2151

Property Details for 10601 Baltimore Ave

Year built

1990

Construction

BRICK

Lot size

0.40 lot acres

Property size

9,760 SF

Zone code

CGO

Property type

Office buildings

APN

01-0023580

APU

10023580

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased bar located at 10601 Baltimore Avenue in Beltsville, Maryland, 20705. The property boasts 8,600 square feet on a 17,598 square foot lot, situated at a signalized intersection just outside Washington, D.C., offering excellent visibility and accessibility. Built in 1990 and extensively renovated in 2022, this three-story building features 30 parking spaces and benefits from a strong location with frontage on Route 1/Baltimore Avenue, boasting over 41,000 AADT and curb cuts on both Route 1 and Rhode Island Avenue. The property is zoned CGO and has a current occupancy of 100%, with the lease commencing October 1, 2022, and over 13 years remaining. The asking price is $3,050,000, representing a price per square foot of $354.65 and a land value of $173 per square foot. The current NOI is $228,098, yielding a 7.48% cap rate, with a pro-forma NOI of $234,941 and a pro-forma cap rate of 7.70%. The lease is a triple-net (NNN) lease with two personal guarantees. The property's location is approximately half a mile from the Washington Beltway and just north of the University of Maryland, ensuring a robust and consistent customer base. This is a rare opportunity to acquire a high-performing, well-located commercial property with significant long-term potential. The APN is 01-0023580.