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614 S Philadelphia Blvd

Aberdeen, Maryland, 21001, United States

Property ID: #737297 // commercial
614 S Philadelphia Blvd
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Traditional Sale
List Price:
$1,650,000.00
Icon 3,025 ft²
Icon 0.84 acres
Icon - beds
Icon - baths
Address:
614 S Philadelphia Blvd
City:
Aberdeen
State:
Maryland
Zip Code:
21001
County:
HARFORD
Country:
United States
Property Type:
Commercial
Additional Property Types:
Retail
Year Built:
2005
Property Size:
3,025 ft²
Lot Size:
0.84 acres
Data Source:
BrightMLS
MLS/Reference Number(s):
MDHR2018468
Source Status:
Active
Source Property Type:
Commercial, Retail

Property Provided By

  • David R Feazell
  • Garceau Realty
  • +1 (443) 299-7937
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Property Information

The Feazell Commercial Group is pleased to present for sale a Precision Tune Auto Service Station plus adjacent pad site located in Aberdeen, MD just 30 miles North of Baltimore City. Custom built by landlord for tenant in 2005, the property consists of a freestanding building with a Gross Leasable Area (GLA) of 3,289 square feet situated on a .84-acre lot. Precision Tune occupies roughly 1/2 of this lot and the other 1/2 is a paved padsite ready to go for another free standing building of similar size. Precision Tune is paying $71,338/yr on a corporately guaranteed, Double-Net (NN) lease with 6.5 years remaining on their original lease term (July 2029 expiration) and four remaining options to renew with 15% increases or CPI whichever is less. The Cap rate is 4.32% and includes the paved padsite next door to the Precision Tune which is tenant-ready. The lease is guaranteed by PTAC which is owned 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 largest employer in Harford County MD. This Precision Tune is located near the intersection of South Philadelphia Blvd and James St and has an average daily traffic count of 34,000+ vehicles per day. The property is in an area with a population of over 45,600 people living within a five-mile radius. Major retail tenants and points of interest in close proximity include: 7-Eleven, McDonalds, Lidl, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. The property's corporate guarantee and strategic location make this Precision Tune an attractive investment opportunity. Additional 1+/- acre of usable land behind the site available for sale as well separately.

Directions

R on philadelphia

Source Disclaimer

BrightMLS

Listing Information © 2024 BrightMLS. All Rights Reserved.
Courtesy of David R Feazell, Garceau Realty dfeazell@garceaurealty.com
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 2023-12-14 04:44:54.


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