101 Chestnut St #5a, GAITHERSBURG, MD

$325,995

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984

Square feet

About 101 Chestnut St #5a

Tenant Renewed Early for 3rd Time 1st Floor Oppty/HUBZone Owner Occupant Oppty Approx. 1000 SF Gaithersburg MD Lease now extends to 11/30/28. Also, the Lease has flexibility for a Buyer since there is an option in the Lease for the New Owner to maintain the current Renewed Favorable Lease or terminate the Lease if they wish to be an Owner Occupant Buyer! Rarely available HUBZone/Opportunity Zone property. 1st floor location in this highly desirable business park. This Recession proof stable investment property is currently leased to a very successful established organization that has a diversified business portfolio including tax preparation services, translation services, vending machine sales and others. They outgrew their previous location and moved to this location in 2019 and signed an initial one year lease but renewed early three times now and the Lease now runs through 11/30/2028. 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 4%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Current owner invested approximately 20K in renovations to accommodate tenant including a new HVAC in 2016. This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of leasing or owning standard higher floors office space. This Beautiful Office Condo Community located next to the Historic Chestnut Meem District is a hidden gem in Montgomery County, MD. This first floor Office Condo located in Suite 120 (5A) has 4 large windowed offices, a reception area, private restroom, 2 exterior entrances and free and plentiful parking. The community just reinvested in a new roof, gutters and repaving of the parking lot. Excellent location near Montgomery County Fair Grounds, restaurants, shopping and very close to both 355 and I-270. 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 or excellent Owner Occupied opportunity to build equity and provide a financial nest egg for your future.

Features of 101 Chestnut St #5a

MLS® # MDMC2036404
Price $325,995
Bathrooms 0.00
Square Footage 984
Acres 0.00
Year Built 1984
Type Commercial Sale
Sub-Type Condo, Office
Status Active

Community Information

Address 101 Chestnut St #5a
City GAITHERSBURG
County MONTGOMERY-MD
State MD
Municipality City of Gaithersburg
Zip Code 20877

Amenities

Utilities Cable TV, Electric Available
Is Waterfront No

Interior

Heating Energy Star Heating System, Central
Cooling Energy Star Cooling System, Central A/C
Has Basement No
Fireplace No

Exterior

Exterior Brick and Siding, Stone, Vinyl Siding
Roof Shingle

School Information

District MONTGOMERY COUNTY PUBLIC SCHOOLS

Additional Information

Date Listed February 6th, 2022
Days on Market 865
Zoning RB
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeParadise Realty, Inc.

Listing Map

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