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$7,000,000
Est. payment /mo
20,000 SqFt
UPDATED:
08/14/2024 07:58 AM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $350
MLS Listing ID MDTA2004014
HOA Y/N N
Originating Board BRIGHT
Year Built 2021
Annual Tax Amount $38,435
Tax Year 2023
Property Description
499 Idlewild Ave., Easton, MD Is a unique opportunity to own recently built, triple-net, commercial real estate in the Easton medical and professional corridor.
This acquisition provides investors with an income-producing property consisting of a 20,000 square
foot building constructed in 2019, offering 85% occupancy with a remaining +/- 3,000 square feet to lease or operate. Present tenants all exceed five-year terms with strong financial and tenancy records. This property has the potential to provide a significant Return on Investment within the first few years of ownership, following a projected Pro Forma which reflects market rate and standard escalation and terms in the Easton professional space market.
The remaining vacant +/-3,000 square feet is in raw shell condition, providing future tenants optimal
architectural and construction flexibility in designing their individualized floor plans.
Acquiring this property provides investors with 20,000 square feet of Class A medical and professional
office, constructed to exceed building efficiency code requirements and provide ample parking. This
building's proximity to Route 50, the University of Maryland Shore Medical Center (0.50 miles), and
downtown Easton offers easily-accessed amenities and quality restaurant options, making this an
attractive option for any tenant seeking space within this market
This acquisition provides investors with an income-producing property consisting of a 20,000 square
foot building constructed in 2019, offering 85% occupancy with a remaining +/- 3,000 square feet to lease or operate. Present tenants all exceed five-year terms with strong financial and tenancy records. This property has the potential to provide a significant Return on Investment within the first few years of ownership, following a projected Pro Forma which reflects market rate and standard escalation and terms in the Easton professional space market.
The remaining vacant +/-3,000 square feet is in raw shell condition, providing future tenants optimal
architectural and construction flexibility in designing their individualized floor plans.
Acquiring this property provides investors with 20,000 square feet of Class A medical and professional
office, constructed to exceed building efficiency code requirements and provide ample parking. This
building's proximity to Route 50, the University of Maryland Shore Medical Center (0.50 miles), and
downtown Easton offers easily-accessed amenities and quality restaurant options, making this an
attractive option for any tenant seeking space within this market
Location
State MD
County Talbot
Zoning COMMERCIAL
Interior
Hot Water Other
Heating Heat Pump(s)
Cooling Other
Heat Source Other
Exterior
Garage Spaces 90.0
Water Access N
Accessibility Level Entry - Main
Total Parking Spaces 90
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Talbot County Public Schools
Others
Tax ID 2101027654
Ownership Other
Special Listing Condition Standard
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Listed by Chelsye Phillips-Hutton • NAI Coastal
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