Bought with Jon Stavrinos • Commercial Real Estate Services of Maryland
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Key Details
Sold Price $7,507,500
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 52,530 sqft
Price per Sqft $142
Subdivision None Available
MLS Listing ID MDHR2037442
Sold Date 03/14/25
Year Built 2000
Annual Tax Amount $75,131
Tax Year 2024
Lot Size 5.600 Acres
Acres 5.6
Property Sub-Type Retail
Source BRIGHT
Property Description
REAL ESTATE AUCTION featuring ON SITE and SIMULCAST ONLINE BIDDING!! Online Bidding Opens - Monday, January 6, 2025. Live On Site Auction - Thursday, January 9, 2025 at 11:00 AM. List price is opening bid only. $500,000 deposit required to bid. Triple net ground lease to Redner's Markets, Inc., dated January 30, 2008. The lease is within the original 20 year term ending September 20, 2028, with an annual rent of $487,410.25 NNN plus percentage rent. There are two options remaining comprising a total of 9 years 6 months. Tenant pays for all maintenance, insurance and annual real estate taxes. The seller is a ground lease tenant for 2111 Conowingo Road, also known as 2111-2113 Conowingo Road, which includes an ingress/egress point into Hickory Village Center and Redner's Market. 2111 Conowingo Road is sub-leased to Tamberino's Restaurant and Frozen Sandcastle on a NNN basis as detailed below. Ground lease payments and lease revenue from sub-tenants are effectively break-even.
Location
State MD
County Harford
Zoning B3
Interior
Hot Water Other
Heating Other
Cooling Other
Heat Source Other
Exterior
Garage Spaces 100.0
Water Access N
Roof Type Flat
Accessibility None
Total Parking Spaces 100
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Harford County Public Schools
Others
Tax ID 1303335658
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Auction
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