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    101 Chestnut Street , 240 (5B)

    GAITHERSBURG, MD 20877
    • $325,000
    • STATUS: Active
    • ON SITE: 207 days
    • ID#: MDMC706290
    UPDATED: 62 min ago
    $325,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    Built:
    1984
    County:

    School Ratings & Info

    Description

    This Covid-19/Recession proof stable investment property is currently leased to a very successful established Cybersecurity IT government contractor that has been there since 2016. The Tenant renewed their lease with an early extension and their lease now runs through 12/31/2027. Also, the current owner has invested approximately 80K in renovations for this tenant in 2016 to allow for this state of the art facility to accommodate their needs including a brand new HVAC system. Minimal Landlord Responsibilities. The Landlord pays base real estate taxes and condo fees. Tenant pays any increase from base real estate taxes and condo fees. Lease includes annual increases of 3%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Chestnut Office Condominium Community is beautifully located next to the Historic Chestnut Meem District. This completely renovated 2nd floor Office Condo has 4 offices, a reception area, conference room, kitchenette with under counter double refrigerators, built-in microwave, granite counter tops, 2 private restrooms, tons of light and tree lined windows, extra storage built-ins, a server room, security system, 2 exterior entrances plus free and plentiful parking. This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status. Cap rate includes estimated tax benefits in the calculation. Great long term stable investment opportunity.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-12-05T12:51:10.49.
    dmv.thereduxgroup.com/homes/105729259
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    101 Chestnut Street , 240 (5B) GAITHERSBURG, MD 20877

    • Price: $325,000
    • Status: Active
    • Updated: 62 min ago
    • ID#: MDMC706290
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1984
    Built
    County:
    Montgomery
    School District:
    Montgomery County Public Schools
    Property Description
    This Covid-19/Recession proof stable investment property is currently leased to a very successful established Cybersecurity IT government contractor that has been there since 2016. The Tenant renewed their lease with an early extension and their lease now runs through 12/31/2027. Also, the current owner has invested approximately 80K in renovations for this tenant in 2016 to allow for this state of the art facility to accommodate their needs including a brand new HVAC system. Minimal Landlord Responsibilities. The Landlord pays base real estate taxes and condo fees. Tenant pays any increase from base real estate taxes and condo fees. Lease includes annual increases of 3%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Chestnut Office Condominium Community is beautifully located next to the Historic Chestnut Meem District. This completely renovated 2nd floor Office Condo has 4 offices, a reception area, conference room, kitchenette with under counter double refrigerators, built-in microwave, granite counter tops, 2 private restrooms, tons of light and tree lined windows, extra storage built-ins, a server room, security system, 2 exterior entrances plus free and plentiful parking. This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status. Cap rate includes estimated tax benefits in the calculation. Great long term stable investment opportunity.
    Exterior Features

    Construction Materials Vinyl Siding Garage YN No Location Type Business Park Lot Features Backs To TreesLandscaping Parking Features PrivateSurfaceUnassigned Parking Types Parking Lot Property Condition Very Good Riparian Rights YN No Roof Architectural Shingle Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

    Interior Features

    Building Area Total 1966.00 Cooling Energy Star Cooling System Heating Energy Star Heating System Heating YN Yes Net Square Feet 1018.00 Security Features Electric AlarmSecurity SystemSmoke Detector

    Property Features

    Acceptable Financing CashConventional Accessibility Features Doors - Lever Handle(S) Annual Gross Expense 5943.00 Assessment Year 2020 Association YN No Building Name Chestnut Court Business Type Professional Central Air YN No Cooling Fuel Electric Cross Street Meem Elevator Use Fee 0.00 Elevators 0 Entry Level 1 Green Energy Efficient LightingHvac Gross Income 25668.00 Heating Fuel Electric Historic YN No Hot Water Electric Incorporated City Name Gaithersburg Internet Services Fiber Optic Lease Considered YN Yes Navigable Water YN N Net Operating Income 19725.00 New Construction YN No Number Of Units Total 1 Operating Expense Includes Cable TvElectricHeating/CoolingInsurancePest ControlRepair/MaintenanceSnow RemovalTrashWaterSewerLandscaping Original MLSNumber 304116707944 Owner Pays Common Area MaintenanceTaxes - Real Estate Ownership Interest Condominium Possession Subject To Existing Lease Property Sub Type Office Sale Type Standard Sewer Public Sewer Tax Annual Amount 2108.00 Tax Assessment Amount 149600.00 Total Actual Rent 20256.00 Transportation Commuter Lots Less Than 5 MilesCommuter Rail Station 1 To 5 Miles Utilities Cable Tv AvailableMultiple Phone LinesElectric Available Vacation Rental YN No Water Source Public Year Built Effective 2016 Zoning Rb

    Listing courtesy of Paradise Realty, Inc..


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-12-05T12:51:10.49.
     
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