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$1,990,000
Est. payment /mo
20,000 SqFt
UPDATED:
10/09/2024 03:57 PM
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $99
MLS Listing ID MDWC2015442
Originating Board BRIGHT
Year Built 1996
Annual Tax Amount $27,327
Tax Year 2024
Lot Dimensions 0.00 x 0.00
Property Description
Single tenant NNN Lease with strong credit tenant, Toroid. There are currently 10.8 years left on the initial lease term. Current NOI is $120,000 NNN with 10% increases every 5 years. There are no Landlord Responsibilities, as tenant maintains all structural and mechanical repairs. This hands-free would be an ideal replacement property for a 1031 buyer. 20,000 SF of pristine flex (Warehouse/Office space is rare to find in the Eastern Shore Marketplace, especially one supported by a strong national credit tenant. In addition, this property is also located in an Enterprise Zone and is in exceptional shape .
Location
State MD
County Wicomico
Area Wicomico Northwest (23-01)
Zoning LI
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 40.0
Water Access N
Accessibility 2+ Access Exits
Total Parking Spaces 40
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 2309050779
Ownership Other
Special Listing Condition Standard
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Listed by Matthew Trader • Rinnier Development Co