$310,000
$404,000
23.3%For more information regarding the value of a property, please contact us for a free consultation.
29983 ST JAMES WAY Princess Anne, MD 21853
864 SqFt
Key Details
Sold Price $310,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 864 sqft
Price per Sqft $358
Subdivision None Available
MLS Listing ID 1000795978
Sold Date 06/30/17
HOA Y/N N
Originating Board CAR
Year Built 1992
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 161x74
Property Description
Well established rental package comprised of 6 rental properties in the college town of Princess Anne, MD being offered for $404,000. All properties are LEAD FREE and all have tenants and leases in place. Average lease term is almost 5 years and average vacancy rate of 5.7% Annual gross income of $56,640 with room for rental increases. Many capital improvements already made. Best news is this package is being offered with a 11.4% CAP rate (after all expenses including debt load) - well beyond the average 8-10% CAP rates you see offered with most rental packages. Serious seller has total of 21 properties for sale. Contact listing agent for more information.
Location
State MD
County Somerset
Area Somerset West Of Rt-13 (20-01)
Interior
Heating Baseboard, Heat Pump(s)
Cooling Central A/C
Flooring Other
Heat Source Electric
Exterior
Waterfront N
Water Access N
Roof Type Other
Road Frontage Public
Garage N
Building
Lot Description Cleared
Foundation Other
New Construction N
Schools
School District Somerset County Public Schools
Others
Tax ID 025740
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
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Bought with Chris Jett • Vantage Resort Realty-52