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101 Chestnut St Unit 5A

Gaithersburg, Maryland, 20877, United States

Property ID: #764481 // commercial
101 Chestnut St Unit 5A
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Traditional Sale
List Price:
$325,995.00
Icon 984 ft²
Icon - acres
Icon - beds
Icon - baths
Address:
101 Chestnut St Unit 5A
City:
Gaithersburg
State:
Maryland
Zip Code:
20877
County:
MONTGOMERY
Country:
United States
Property Type:
Commercial
Additional Property Types:
Office
Year Built:
1984
Property Size:
984 ft²
Data Source:
BrightMLS
MLS/Reference Number(s):
MDMC2036404
Source Status:
Active
Source Property Type:
Commercial, Office

Property Provided By

  • Robert G Epstein
  • Paradise Realty, Inc.
  • +1 (301) 367-5996
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Property Information

Tenant Renewed Early for 3rd Time 1st Floor Oppty/HUBZone Owner Occupant Oppty Approx. 1000 SF Gaithersburg MD Lease 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.

Directions

355 to left on Chestnut St. Building is on corner of Meem and Chestnut St Or 270 to Clopper Rd. Take left at light and left on Meem and left into Parking lot on Chestnut

Source Disclaimer

BrightMLS

Listing Information © 2024 BrightMLS. All Rights Reserved.
Courtesy of Robert G Epstein, Paradise Realty, Inc. repstein@paradiserealtyinc.net
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available.
This content last updated on 2024-01-24 15:07:59.


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