for sale the jjj uilding - loopnet...the jjj uilding. 18050 georgia avenue. olney, maryland 20832....
TRANSCRIPT
Contact: John DiSalvatore, Owner
301.758.6300 cell [email protected]
Rev. 2.18.2018
FOR SALE THE JJJ BUILDING
18050 Georgia Avenue Olney, Maryland 20832
$5,300,000
Located in
downtown Olney
4 units for a total of
approx. 5,000 SF
rentable space
This Property is
contiguous to The
Olney Center and
should be
purchased together
This is THE BEST location in downtown Olney,
Maryland; only steps away from a major
intersection. The Property is in a prime location in
Montgomery County with approx. 22,841 CPD on
Sandy Spring Road and 28,481 CPD on Georgia
Avenue.
The JJJ Building was built in 1988. There is a total
of approx. 5,000 SF of rentable space divided into
2 buildings; one with 3 units and a stand-alone
garage. It is conveniently located three (3)
minutes off the new I-200 Inter County Connector
on very busy Georgia Avenue providing excellent
exposure for the Property and signage exposure
for the tenants’ businesses. The Property consists
of two one-story buildings, is well-maintained and
in excellent condition, as well as being an easily
managed, income producing property. The JJJ
Building is occupied with solid, long-term tenants,
and has high occupancy rates, both historically and
currently.
THE JJJ BUILDING
Prime Location— Approx. 28,000 CPD
Please find attached the:
Rent Roll rev. 2.18.18
Plat/Site Plan
2016 Annual Average Daily
Traffic (AADT) from Maryland
Department of Transportation,
Data Services Division
THE JJJ BUILDING
Tenant Suite SFTenant
Since
Start
Current
Lease
End
Current
Lease
Current
Rent/SF
Current Base
Rent/Mo.
Rental
Increases
Lease
Type
Mgmt Fee
(5% Gross
Rent)
Renewal
Options
Thai Cuisine 18050 813 2005 3/1/2015 2/28/2020 $65.57 $4,442.33CPI Annually
(03/19)NNN Yes None
Mattress
Warehouse **18050 3,227 2004 11/1/2004 10/31/2019 $45.00 $12,101.25
CPI Annually
(06/18)NNN $269 One 5-Year
Star Nails 18050-D 433 2006 1/1/2006 12/31/2021 $74.82 $2,699.83CPI Annually
(10/18)NNN Yes None
Signs in One
Hour
18052
(Garage)720 2003 8/1/2013 9/1/2018 $45.02 $2,701.22
CPI Annually
(05/18)Gross No None
TOTAL 5,193 $21,944.63 Rent/Month
$263,335.56 NOI
$5,300,000.00 Sales Price
** Exercised their renewal option. Last option is due 11/2019 with an incease to $50 psf.
rev. 2/18/2018
The JJJ Building (JJJ Limited Partnership)
18050 Georgia Avenue, Olney, Maryland 20832
Approx. 5,200 SQ FT
Property Tax 07/01/17 - 06/30/18: $11,330.34
The information above is believed to be accurate but not guaranteed. Please verify by leases.
