7010 Westmoreland Ave Takoma Park, MD 20912
- Office buildings
- 2,000 SF
- 0.12 lot acres
Current Use by Public Records
- Office buildings
Property Details for 7010 Westmoreland Ave
- Year built
- 1922
- Construction
- BRICK
- Lot size
- 0.12 lot acres
- Property size
- 2,000 SF
- Zone code
- NR0.7
- Property type
- Office buildings
- APN
- 13-01057901
- APU
- 1301057901
Description
This exceptional Takoma Park storefront, located in the historic district at 7010 Westmoreland Ave, offers a compelling sale-leaseback opportunity. The 2,800 square foot, three-story building, constructed in 1922 and renovated in 2010, boasts a strong 10-year NNN lease with a 2.5% annual rent increase. The current tenant, operating a successful business since 1972, enjoys 100% occupancy, generating a substantial NOI of $78,000 and a 7.5% cap rate. The property features four parking spaces, solar panels, and is conveniently situated a seven-minute walk from the Takoma Metro Station. The asking price is $1,040,000 ($371.43/sq ft). The property is zoned NR and sits on a 5,364 square foot lot. This fee-simple ownership presents a rare opportunity for investors seeking a stable, income-producing asset in a thriving location. The building is in excellent condition and benefits from its proximity to a diverse range of retail and entertainment options. Showings are by appointment only to avoid disturbing the tenant.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Takoma Park
- County
- Montgomery
- State
- Maryland
- Longitude
- -77.0113
- Latitude
- 38.9743
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
