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614 S Philadelphia Boulevard

ABERDEEN, MD 21001
  • $1,650,000
  • STATUS: Active
  • ON SITE: 360 Days
  • ID#: MDHR2018468
$1,650,000
  • 0
    BEDS
  • 0.84
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
2005
County:

School Ratings & Info

Description

The Feazell Commercial Group is pleased to present for sale a Precision TuneAuto Service Station plus adjacent pad site located in Aberdeen, MD just 30miles 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 Tuneoccupies roughly 1/2 of this lot and the other 1/2 is a paved padsite readyto 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 6.5years remaining on their original lease term (July 2029 expiration) and fourremaining options to renew with 15% increases or CPI whichever is less. TheCap rate is 4.32% and includes the paved padsite next door to the PrecisionTune which is tenant-ready. The lease is guaranteed by PTAC which is ownedby 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 thelargest employer in Harford County MD. This Precision Tune is located near theintersection of South Philadelphia Blvd and James St and has an average dailytraffic count of 34,000+ vehicles per day. The property is in an area with apopulation of over 45,600 people living within a five-mile radius. Major retailtenants and points of interest in close proximity include: 7-Eleven, McDonalds,Lidl, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. The property+GGs corporate guarantee and strategic location make this Precision Tune anattractive investment opportunity. Additional 1+/- acre of usable land behindthe site available for sale as well separately.

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©2023 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 RE/MAX Executive. 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: 2023-12-04T23:50:15.907.
www.jessyoungrealestate.com/homes/135338379
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614 S Philadelphia Boulevard ABERDEEN, MD 21001

  • Price: $1,650,000
  • Status: Active
  • On Site: 360 Days
  • ID#: MDHR2018468
0
Beds
0
Baths
0
½ Baths
0.84
Acres
2005
Built
County:
Harford
School District:
Harford County Public Schools
Property Description
The Feazell Commercial Group is pleased to present for sale a Precision TuneAuto Service Station plus adjacent pad site located in Aberdeen, MD just 30miles 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 Tuneoccupies roughly 1/2 of this lot and the other 1/2 is a paved padsite readyto 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 6.5years remaining on their original lease term (July 2029 expiration) and fourremaining options to renew with 15% increases or CPI whichever is less. TheCap rate is 4.32% and includes the paved padsite next door to the PrecisionTune which is tenant-ready. The lease is guaranteed by PTAC which is ownedby 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 thelargest employer in Harford County MD. This Precision Tune is located near theintersection of South Philadelphia Blvd and James St and has an average dailytraffic count of 34,000+ vehicles per day. The property is in an area with apopulation of over 45,600 people living within a five-mile radius. Major retailtenants and points of interest in close proximity include: 7-Eleven, McDonalds,Lidl, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. The property+GGs corporate guarantee and strategic location make this Precision Tune anattractive investment opportunity. Additional 1+/- acre of usable land behindthe site available for sale as well separately.
Exterior Features

Construction Materials Block Garage YN No Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3025.00 Cooling Other Heating Other Heating YN Yes Net Square Feet 3289.00

Property Features

Accessibility Features Other Assessment Year 2023 Business Type Auto RelatedOther Central Air YN No Cooling Fuel Other Heating Fuel Other Hot Water Other Municipality Aberdeen Navigable Water YN N New Construction YN No Number Of Units Total 1 Original MLSNumber 802052141572 Ownership Interest Fee Simple Possession Immediate Property Sub Type Retail Sale Type Standard Sewer Public Sewer Tax Annual Amount 10249.00 Tax Assessment Amount 650200.00 Tax Lot 2 Vacation Rental YN No Water Source Public Zoning B3

Listing courtesy of Garceau Realty: .


©2023 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 RE/MAX Executive. 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: 2023-12-04T23:50:15.907.
 
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