2.18 acres all usable land. Access from Prince Frederick Blvd from the traffic circle. Property is surrounded by high density residential, as well as high traffic commercial. Great walk-ability factor for mixed-use project including retail, service, and office. Water, sewer and natural gas services to be available.
Grow your business in this prime location! This 1000 sq ft office space is strategically located on Rte 231, ensuring maximum visibility and foot traffic for your growing enterprise. With separate metering, you have full control over your utilities, ensuring efficiency and cost-effectiveness. The reasonable rent of $1500 per month, along with a CAM fee of $250 covering water, sewer, and common area maintenance, offers exceptional value for this prime location. Schedule a showing today and envision the endless possibilities this space holds for your success. Contact us now to secure your future in this thriving location!
The Seller’s operating structure is set up in three layers. Initially as a Land Condo (Old Field Commons) with 6 building sites each with 10% direct ownership interest (60%) and a 40% undivided common interest representing the common areas. Of the 6 pad sites, 3 are operated by single business owners and 3 are operated as condominiums with multiple condominium suite owners. The allocation of the common area charge among the 6 sites is based on building square footage. Building capacity is maximized for each site. The next level is shared building expenses. Each condominium building has separate shared building expenses that are allocated by the ratio square footage of each condo unit to the whole in each building. Taxes and utilities are billed by individual condo units. Each condominium unit provides insurance coverage to include their use of the common areas. There is not a separate liability policy covering Old Field Commons. The third level is management fees. Both the Land Condominium and the three building condominiums have the authority to contract for management services, which are currently done as a part of the Prince Frederick Association (the Seller). These management fees are separately calculated for the CAC and Building Operating Costs and allocated to the building site owners or the condominium unit owners. What is for sale are 8 individual units in 3 buildings where the Sellers control 19,031 square feet of 26,430 in total. Typically, the occupancy cost to the tenant can consist of Rent, CAC, Building Operating Costs, Management Fees, Taxes and insurance. In this case, the Seller currently absorbs most of these typical pass -through costs on a gross lease basis. It is anticipated as leases renew, they will be replaced with true net leases. The net effect is that the leases are grossly under market and produce a relatively low NOI. The asking price reflects this in the cost per finished foot is a remarkably low $139 per square foot in a $220 square foot market. With new management and an adjustment to current market rents, the NOI over 2 years could rise to at least $18 per foot, that would reflect a growth in ROI and a restated cap rate of 13%, and an increase in value based on an 8% cap rate of $1,367,600 over the $2,900,000 paid. This is a great property with a reliable mix of tenants - medical, legal, dental, insurance, and government,-Very convenient to the court house, governmental center and hospital , - In the heart of historical Old Town Prince Frederick. A comprehensive property management effort over the short term will generate 30%+ increase in equity. Call for a detailed rent roll and financials.
1,270 sq. ft. Vacant Shell ready for your business or practice right on the 2nd floor. Very nice professional building with large covered entry way into the lobby with elevator. There is a building permit in hand. The present concept plan can be altered to suit your needs. Please call us for more information.
Rare opportunity to purchase 2 acres of Commercial Zoned TC property! Existing home is a 4 bed/1bath and can be converted for commercial office use with little effort. However, Best use has potential to clear/grade the 2 acre parcel and build a Convenience Store, Retail Commercial Building with Drive-up Facility, Eating Establishment with Drive-up Facility, Veterinary Hospital, Home Improvement Center, Laundromat, Fitness Center, and much more! Current ingress/egress road off of route 231 with potential for a second ingress/egress road on Thoroughbred Drive with an established 4-way stop light. Contact Listing Agent for more details!
Office Space on Main Street in Prince Frederick. Located just steps from the Courthouse! Great visibility with frontage on Main Street! First Floor: 950+/- SF office space with reception area and restroom.
Fully Leased - Professional Office Building with 10,000 SF for sale at $1,900,000. Professional office space close to Calvert Memorial Hospital, shopping and restaurants. Building sits on 0.84 acres with plenty of parking. Great Investment Opportunity.
Prince Frederick is located in Maryland. Prince Frederick, Maryland has a population of 2,350. Prince Frederick is more family-centric than the surrounding county with 38.93% of the households containing married families with children. The county average for households married with children is 34.94%.
The median household income in Prince Frederick, Maryland is $55,977. The median household income for the surrounding county is $120,295 compared to the national median of $69,021. The median age of people living in Prince Frederick is 43.7 years.
The average high temperature in July is 87.1 degrees, with an average low temperature in January of 26 degrees. The average rainfall is approximately 45.2 inches per year, with 14.7 inches of snow per year.
