614 S Philadelphia Boulevard
Aberdeen,
MD
21001
Property Details
| List Price: |
$1,650,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
-- |
| Agency: |
Garceau Realty |
| Agency Phone: |
(410) 803-0714 |
Description/Comments
| Lot Size: |
0 acre(s) |
| Property Type: |
Commercial Sale-Other |
| Year Built: |
2005 |
| Notes: |
The Feazell Commercial Group is pleased to present for sale a Precision Tune<br />
Auto Service Station plus adjacent pad site located in Aberdeen, MD just 30<br />
miles North of Baltimore City. Custom built by landlord for tenant in 2005,<br />
the property consists of a freestanding building with a Gross Leasable Area<br />
(GLA) of 3,289 square feet situated on a .84-acre lot. Precision Tune<br />
occupies roughly 1/2 of this lot and the other 1/2 is a paved padsite ready<br />
to go for another free standing building of similar size. <br />
Precision Tune is paying $71,338/yr on a corporately guaranteed, Double-Net (NN) lease with 6.5<br />
years remaining on their original lease term (July 2029 expiration) and four<br />
remaining options to renew with 15% increases or CPI whichever is less. The<br />
Cap rate is 4.32% and includes the paved padsite next door to the Precision<br />
Tune which is tenant-ready. The lease is guaranteed by PTAC which is owned<br />
by parent company Icahn Automotive Group LLC. The lease is set to increase in 2024 and will bump up the yield to a 4.99% cap rate. Aberdeen as a city is the<br />
largest employer in Harford County MD. This Precision Tune is located near the<br />
intersection of South Philadelphia Blvd and James St and has an average daily<br />
traffic count of 34,000+ vehicles per day. The property is in an area with a<br />
population of over 45,600 people living within a five-mile radius. Major retail<br />
tenants and points of interest in close proximity include: 7-Eleven, McDonalds,<br />
Lidl, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. <br />
The property’s corporate guarantee and strategic location make this Precision Tune an<br />
attractive investment opportunity. Additional 1+/- acre of usable land behind<br />
the site available for sale as well separately. |
| MlsNumber: |
-- |
| ListingId: |
MDHR2018468 |
Estimate Your Monthly Payment
| Listing Provided By: |
Garceau Realty, original listing |
| Phone: |
(410) 803-0714 |
| Office Phone: |
(410) 803-0714 |
| Agent Name: |
David Feazell |
| Disclaimer: |
Copyright © 2024 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |
