2305 51st Pl - Warehouse FOR SALE


Hyattsville, MD 20781- Cheverly
$2,495,000 USD
301-221-5322
2305 51st Pl, Hyattsville, MD for Sale
$2,495,000 USD
Warehouse - FOR SALE
1/7
null | Request Cap Rate

2305 51st Pl
Hyattsville, MD 20781
Cheverly


HIGHLIGHTS

  • 18' Clear Height, 3 Drive-In Doors, Two Cranes, Heavy Industrial (IH) Zoning
  • 15,120 SF Concrete-Block Warehouse & Additional +/- 6,000 SF Metal-Construction, High-Ceiling Storage Area
  • 2-Minute Drive to Route-50, Route-201 & D.C. border; 9-Minute Drive to I-495

OVERVIEW

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 2305 51st Place, Hyattsville, MD 20781. This 15,120 SF warehouse sits on a 0.48-acre lot with heavy industrial zoning and offers an additional metal-covered storage area. It is conveniently located at the intersection of US-50 and the Baltimore-Washington Parkway, providing quick access to I-495 and Washington, D.C. The building is currently occupied on an absolute NNN lease with approximately 1 year remaining and no renewal options. The lease can be terminated with a 90-day written notice, making this opportunity ideal for an owner-user. The warehouse consists of two large spaces: one with concrete block construction and the other sheet metal construction. The concrete portion is 15,120 SF, including roughly 2,520 SF of second story office space. The warehouse features 18’ clear heights, 2 cranes, 4 gas-fired heaters, 1 bathroom, and a break room that includes private lockers. Additionally, there is a large mezzanine area used for additional storage. The office is two stories with two separate stairways connecting the two floors. The first-floor features 2 large rooms with multiple personal desks in each, a reception area, kitchen area, and 2 bathrooms. The second floor consists of 4 private offices, 2 bathrooms, washer/dryer hook up, and connects to the mezzanine area in the warehouse. An interior oversized drive-in door connects the 15,120 SF concrete-block warehouse to the metal-construction storage area. This storage area features high ceilings and is currently used primarily for vehicle parking. There are three additional oversized drive-in doors to the exterior of the building from the metal-covered storage area. Strategically located just 2-minutes from the D.C. border, 2305 51st Place sits in an infill industrial pocket with many national brands, such as Pepsi, Sunbelt Rentals, and United Rentals. The industrial vacancy rate (for buildings 100k SF or less) within 1-mile is 2.30% with 7.40% annual rent growth. This opportunity is ideal for an owner-user seeking industrial space with heavy industrial zoning, high ceilings, and in a convenient location near multiple highways and Washington D.C. or for an investor looking to capture rental upside with the current rent being approximately $3/SF below market.

FOR SALE DETAILS

PRICE

$2,495,000 USD

PRICE/SF

$96 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Manufacturing, Service

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

UTILITIES

-

CLEAR CEILING HT

18 Ft

DOCKS

-

DRIVE INS

3

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.48

LAND SF

21,061

ZONING

I2

APN/PARCEL ID

02-0122259

ASK ABOUT THIS PROPERTY

Bryn MerreyMarcus & MillichapMore Info
301-221-5322

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Bryn MerreyMarcus & MillichapMore Info
301-221-5322

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.