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$704,000
Est. payment /mo
3,956 SqFt
UPDATED:
10/25/2024 05:40 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 3,956 sqft
Price per Sqft $177
MLS Listing ID MDHR2036646
Originating Board BRIGHT
Year Built 1981
Annual Tax Amount $7,519
Tax Year 2024
Lot Size 0.764 Acres
Acres 0.76
Property Description
Rarely Available Commercial Property on Wheel Rd in Bel Air. Currently divided into four units and being used as an auto repair shop, insurance office, and two residential units with large parking lot set back from the street. One of the residential apartments is currently vacant with an $1800/ mo potential rent. Rents are currently below market value; excellent value-add opportunity as tenants below market are on short term leases. Property appraised in 2022 for $700,000. Showings will only be permitted once a contract is ratified. Buyer may build in showing contingency. This is to minimize the burden on the tenants. Owner is willing to do repairs to the vacant residential unit but is waiting to do so in the event an interested purchaser would rather convert the residence to office space. Owner is not certain this can be done. It would be the buyer's responsibility to determine the property would work for their planned use. Appraisal noted potential gross annual rent of $80,471 with modified gross leases. Lot lines on satellite image are approximate.
Location
State MD
County Harford
Zoning B3
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Heat Source Electric, Oil
Exterior
Garage Spaces 23.0
Water Access N
Accessibility Other
Total Parking Spaces 23
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Harford County Public Schools
Others
Tax ID 1301032755
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Listed by Paul D Covington • RE/MAX Advantage Realty
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