Homes for sale - 412 RAILROAD AVE, Federalsburg, MD 21632

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Kerry O'Hara

[email protected] +1(410) 507-0834

$ 4,250,000

Est. payment -/mo

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412 RAILROAD AVE Federalsburg, MD 21632

100,336 SqFt

UPDATED:

12/13/2024 08:21 PM

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

Square Footage 100,336 sqft

Price per Sqft $42

MLS Listing ID MDCM2005152

Originating Board BRIGHT

Year Built 1956

Tax Year 2024

Lot Size 7.930 Acres

Acres 7.93

Property Description

Very clean well--maintained Industrial Property. Excellent for a 1031 exchange. 100,336 sq. ft. complex on 7.93 acres (Parcel 595 Tracts 1 and 2. Not included in the initial offer is Tract 3, 4.66 ac. undeveloped lot, could be available). There are multiple buildings on the site, the earliest of which was constructed in 1956 as a poultry processing plant with additions built in 1988, 1994, 2001, 2002, and 2008. The construction is concrete block and steel framing with some timber framing; recent additions are pre-engineered steel buildings. The older buildings received standing seam metal roofs in 2020. Buildings are heated and ventilated with some areas air-conditioned and cold warehouse areas are equipped with refrigeration equipment. Heavy, up-to-date electrical services throughout. All other systems Ceiling heights vary from 9 to 35 feet.The primary tenant M&M Refrigeration, LLC, a wholly owned subsidiary of Johnson Controls International, designs,manufactures, and installs custom industrial refrigeration equipment worldwide. There is a small portion (refrigerated dock space) leased by Jack and Jill, an ice cream distributor. The M&M JCI lease runs through 2033 and has two five-year options. It is a triple net lease with an annual rent adjustment of the CPI or 2% whichever is higher. The current annual rent is $298,120.08
Jack and Jill has been leasing its space for almost 40 years, currently month-to-month, but a signed lease could be acquired. Jack and Jill's current annual rent is $21,600.00.
To summarize, the property generates $319,720.08 triple net. The property is offered for sale at $4,250,000, which yields a cap rate of 7.52%.
Tract 3, 4.66 acres of undeveloped industrial land is not included in the offering and this time, but could be available.
Upon receipt of a verified signed NDA (attached in Docs section), the following items will be made available: Alta survey showing all boundaries, improvements, easements, encroachments; Lease and amendment with lease exhibit; Maryland Dept. of the Environment letter of no findings; Phase 1 environmental study; and Phase 2 environmental study. Please feel free to call the agent with any questions and to arrange a site visit if you like.
Attachments

Location

State MD

County Caroline

Zoning INDUSTRIAL

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling Central A/C

Heat Source Natural Gas

Exterior

Garage Spaces 56.0

Water Access N

Accessibility 36\"+ wide Halls

Total Parking Spaces 56

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Caroline County Public Schools

Others

Tax ID NO TAX RECORD

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

Listed by BOB WHEATLEY • KELLER WILLIAMS COMMERCIAL

Kerry O'Hara

Advisor | License ID: 651712

+1(410) 507-0834

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