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Key Details
Sold Price $4,550,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 25,150 sqft
Price per Sqft $180
MLS Listing ID MDWC112350
Sold Date 10/22/21
HOA Y/N N
Originating Board BRIGHT
Year Built 2019
Annual Tax Amount $64,749
Tax Year 2021
Lot Size 2.610 Acres
Acres 2.61
Lot Dimensions 0.00 x 0.00
Property Description
100% net leased investment property - Northwood Professional Center. Build in 2019 offering high quality construction and professional landscaping. Consists of 3 buildings totaling 25,207 sq.ft. on 2.61 acres of land. The property contains a total of 16 units. Building B offers 12' bay doors and Building C units offer 10' bay doors. First class finished office spaces with drywall, acoustical tile ceilings and ceramic tile and LVT flooring. All units are currently under new 5 years leases. Very attractive complex located just minutes from US Route 13 & US Route 50 bypass near shopping, restaurants and services. Property is situated in the Northwood Industrial Park which has access to all municipal services and is home to over 40 manufacturers. Located in an Enterprise Zone offering a 10 year local property tax credit to the owner. The amount of the tax credit is 80% for each of the first five years starting July 2020. In years 6-10 the credit decreases 10% annually.
Location
State MD
County Wicomico
Area Wicomico Northwest (23-01)
Zoning LI
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Flooring Concrete, Partially Carpeted, Ceramic Tile, Other
Heat Source Electric
Exterior
Garage Spaces 90.0
Utilities Available Sewer Available, Water Available
Water Access N
Roof Type Asphalt
Street Surface Paved,Black Top
Accessibility Level Entry - Main
Road Frontage City/County
Total Parking Spaces 90
Garage N
Building
Lot Description Corner, Cul-de-sac, Landscaping
Foundation Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID 09-074694
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with G Steven Montague • Capital Commercial Realty