$ 1,650,000
614 S PHILADELPHIA BLVD Aberdeen, MD 21001
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$ 1,650,000
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Active
614 S PHILADELPHIA BLVD Aberdeen, MD 21001
3,289 SqFt
UPDATED:
08/14/2024 08:51 AM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,289 sqft
Price per Sqft $501
MLS Listing ID MDHR2018468
Originating Board BRIGHT
Year Built 2005
Annual Tax Amount $10,262
Tax Year 2023
Lot Size 0.840 Acres
Acres 0.84
Property Description
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 $82,039/yr on a corporately guaranteed, Double-Net (NN) lease with 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 5% 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. 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.
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 $82,039/yr on a corporately guaranteed, Double-Net (NN) lease with 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 5% 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. 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.
Location
State MD
County Harford
Zoning B3
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 28.0
Waterfront N
Water Access N
Accessibility Other
Total Parking Spaces 28
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Harford County Public Schools
Others
Tax ID 1302398086
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
Listed by David R Feazell • Garceau Realty