12578 Garrett Hwy N - Office FOR SALE


Oakland, MD 21550
$3,550,000 USD
717-554-4881
12578 Garrett Hwy N, Oakland, MD for Sale
$3,550,000 USD
Office - FOR SALE
1/22
null | 8.27% Cap Rate

12578 Garrett Hwy N
Oakland, MD 21550


HIGHLIGHTS

  • AAA Credit Rated Tenant
  • 10 Year Lease Extension & Long Occupancy History
  • Modified Lease
  • Significant Capital Improvements Scheduled

OVERVIEW

SCOPE Commercial Real Estate Services, LLC “SCOPE” is pleased to present the Maryland Department of Human Services’ Garrett County Social Services Office. The 14,116 SF building consists of office space, waiting and visitation rooms, meeting rooms, and document storage. The property houses the Garrett County Child Support Administration and is the only Social Services Office in Garrett County. The State of Maryland just extended their lease for 10 Years followed by a 1X5 Option - which demonstrates commitment for the property. Several capital expenditures are planned for the property including new LED Lighting, replacement of HVAC units, painting, new carpeting and tiling, and parking lot repairs. The tenant is on a modified gross lease and is responsible for the cost of electric, heating and fuel, janitorial, trash removal, snow/ice removal, and increases over the base year for real estate taxes. Landlord is responsible for the base year tax amount, repairs & maintenance, water & sewer, and property insurance. The State of Maryland has AAA rated credit and the subject property offers investors stable and predictive income.

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$250 USD /SF

CAP RATE

8.27%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

Commercial - TC

APN/PARCEL ID

17-013432

ASK ABOUT THIS PROPERTY

Craig DunkleScope Commercial Real Estate Services, LLCMore Info
717-554-4881

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Craig DunkleScope Commercial Real Estate Services, LLCMore Info
717-554-4881

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.