Property Listing No Longer Available for Sale

6217-6239 Baltimore Avenue

Riverdale-College Park, MD

Retail for Sale - $4,318,181 - 1 acres


Property Info

CIMLS#97296
Location
  6217-6239 Baltimore Avenue
  Riverdale-College Park MD 20737
UpdatedOctober 16th, 2009
TypeRetail
Price$4,318,181
Land1 acres

Property Description

This newly developed Wells Fargo (Wachovia) branch office is situated at the southeast corner of Baltimore Avenue (U.S. Route 1) and East-West Highway (Maryland Route 410) inside of the Greater Washington, D.C. Beltway. U.S. 1 is a major north-south roadway running through the county, entering the county at Laurel and leaving at the state border with Washington, D.C. at Mount Rainier. To this site


Financials

Marcus & Millichap is pleased to offer this newly developed Wells Fargo (Wachovia) Bank branch in the College Park area of Maryland. This offering has attractive components, including a 25-year absolute net lease with 12 percent structured increases through the base term. The branch office is currently under construction and is scheduled to open in August 2009. Upon completion, this attractively designed and costly structure will occupy one of the busiest corners in the entire state of Maryland, with traffic counts over 70,000 vehicles per day. Many of the bank branches in the area have high deposit bases due to the density of the area and its proximity to the University of Maryland (College Park campus). This offering is ideal for the passive 1031 investor/buyer seeking a credit-worthy, net leased property in a prime location within the stable Washington, D.C. metro area.

Contact Agent for Full Offering Memorandum.