975 Kelly Rd Cumberland, MD 21502
- Manufacturing properties
- 52,402 SF
- 5.18 lot acres
Current Use by Public Records
- Penn-Mar Recycling (check in office) / Junkyard
- GW / Corporate Office
Property Details for 975 Kelly Rd
- Year built
- 2022
- Lot size
- 5.18 lot acres
- Property size
- 52,402 SF
- Property type
- Manufacturing properties
- APN
- 06-104826
- APU
- 6104826
Description
This exceptional industrial property, located at 975 Kelly Rd, Cumberland, MD 21502, presents a unique sale-leaseback opportunity. The 208,645-square-foot facility sits on a 15-acre lot and is currently 100% occupied by Grow West, a leading cannabis operator, under a 20-year absolute NNN lease with six 5-year renewal options. The lease commenced October 3, 2022, and includes a 10% rent increase after the first 10 years. The property boasts 13 loading docks and is classified as Class B. Built in 1960 and renovated in 2016, the single-story building is zoned IG. The asking price is $36,000,000, representing a price per square foot of $172.54 and a current NOI of $1,800,000, with a pro-forma NOI of $2,700,000 and a 7.5% cap rate. The tenant is backed by a corporate guarantee, making this a secure investment. This offering is structured for a 1031 exchange. The property's location in Allegany County offers potential future benefits. This is a rare opportunity to acquire a high-quality industrial asset with a long-term lease to a strong, creditworthy tenant in a growing market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Allegany
- State
- Maryland
- Longitude
- -78.7813
- Latitude
- 39.6407
- CBSA code
- 19060
- CBSA name
- CUMBERLAND, MD-WV METROPOLITAN STATISTICAL AREA
