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101 Chestnut Street , 5A

GAITHERSBURG, MD 20877
  • $325,995
  • STATUS: Active
  • ON SITE: 748 Days
  • ID#: MDMC2036404
UPDATED: 65 min ago
$325,995
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1984
County:

School Ratings & Info

Description

Tenant Renewed Early for 3rd Time 1st Floor Oppty/HUBZone Owner Occupant Oppty Approx. 1000 SF Gaithersburg MDLease now extends to 11/30/28. Also, the Lease has flexibility for a Buyer since there is an option in the Lease for the New Owner to maintain the current Renewed Favorable Lease or terminate the Lease if they wish to be an Owner Occupant Buyer! Rarely available HUBZone/Opportunity Zone property. 1st floor location in this highly desirable business park. This Recession proof stable investment property is currently leased to a very successful established organization that has a diversified business portfolio including tax preparation services, translation services, vending machine sales and others. They outgrew their previous location and moved to this location in 2019 and signed an initial one year lease but renewed early three times now and the Lease now runs through 11/30/2028.Minimal Landlord Responsibilities. The Landlord pays base real estate taxes and condo fees. Tenant pays any increase from base real estate taxes and condo fees. Lease includes annual increases of 4%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Current owner invested approximately 20K in renovations to accommodate tenant including a new HVAC in 2016.This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of leasing or owning standard higher floors office space.This Beautiful Office Condo Community located next to the Historic Chestnut Meem District is a hidden gem in Montgomery County, MD. This first floor Office Condo located in Suite 120 (5A) has 4 large windowed offices, a reception area, private restroom, 2 exterior entrances and free and plentiful parking. The community just reinvested in a new roof, gutters and repaving of the parking lot.Excellent location near Montgomery County Fair Grounds, restaurants, shopping and very close to both 355 and I-270.This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status. Cap rate includes estimated tax benefits in the calculation. Great long term stable investment opportunity or excellent Owner Occupied opportunity to build equity and provide a financial nest egg for your future.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T12:52:08.797.
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101 Chestnut Street , 5A GAITHERSBURG, MD 20877

  • Price: $325,995
  • Status: Active
  • On Site: 748 Days
  • Updated: 65 min ago
  • ID#: MDMC2036404
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1984
Built
County:
Montgomery
School District:
Montgomery County Public Schools
Property Description
Tenant Renewed Early for 3rd Time 1st Floor Oppty/HUBZone Owner Occupant Oppty Approx. 1000 SF Gaithersburg MDLease now extends to 11/30/28. Also, the Lease has flexibility for a Buyer since there is an option in the Lease for the New Owner to maintain the current Renewed Favorable Lease or terminate the Lease if they wish to be an Owner Occupant Buyer! Rarely available HUBZone/Opportunity Zone property. 1st floor location in this highly desirable business park. This Recession proof stable investment property is currently leased to a very successful established organization that has a diversified business portfolio including tax preparation services, translation services, vending machine sales and others. They outgrew their previous location and moved to this location in 2019 and signed an initial one year lease but renewed early three times now and the Lease now runs through 11/30/2028.Minimal Landlord Responsibilities. The Landlord pays base real estate taxes and condo fees. Tenant pays any increase from base real estate taxes and condo fees. Lease includes annual increases of 4%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Current owner invested approximately 20K in renovations to accommodate tenant including a new HVAC in 2016.This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of leasing or owning standard higher floors office space.This Beautiful Office Condo Community located next to the Historic Chestnut Meem District is a hidden gem in Montgomery County, MD. This first floor Office Condo located in Suite 120 (5A) has 4 large windowed offices, a reception area, private restroom, 2 exterior entrances and free and plentiful parking. The community just reinvested in a new roof, gutters and repaving of the parking lot.Excellent location near Montgomery County Fair Grounds, restaurants, shopping and very close to both 355 and I-270.This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status. Cap rate includes estimated tax benefits in the calculation. Great long term stable investment opportunity or excellent Owner Occupied opportunity to build equity and provide a financial nest egg for your future.
Exterior Features

Construction Materials BrickStoneVinyl Siding Garage YN No Location Type Business Park Parking Types Parking LotOn Street Riparian Rights YN No Roof Shingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 984.00 Cooling Energy Star Cooling SystemCentral A/C Heating Energy Star Heating SystemCentral Heating YN Yes Net Square Feet 984.00

Property Features

Acceptable Financing CashContractConventionalFHA Accessibility Features Level Entry - Main Assessment Year 2023 Business Type MedicalOther/General RetailProfessionalStorage Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Internet Services Cable Lease Considered YN No Municipality City of Gaithersburg Navigable Water YN N Net Operating Income 19031.00 New Construction YN No Number Of Units Total 1 Original MLSNumber 801325044894 Owner Pays Taxes - Real EstateCommon Area Maintenance Ownership Interest Condominium Possession 61-90 Days CD Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 2286.00 Tax Assessment Amount 157400.00 Total Actual Rent 19668.00 Utilities Cable TVElectric Available Vacation Rental YN No Water Source Public Year Built Effective 2016 Zoning RB

Listing courtesy of Paradise Realty, Inc.: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Pearson Smith Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-02-25T12:52:08.797.
 
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