Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale and/or lease of three industrial land parcels at 15120 and 15121 Southlawn Lane, Rockville, Maryland. The property is 11.26-acres with 7.71 usable acres that are concrete-paved or gravel. The sites serve as industrial outdoor storage and include 35,061 SF of total building area. Both smaller parcels have Rockville Light Industrial zoning, and the larger parcel has county Heavy Industrial zoning. With its urban location in Rockville, Maryland, it offers quick access to Washington, D.C., I-270, I-495 and the Intercounty Connector. Surrounding properties cater to heavy industrial uses and the larger Rockville industrial market is home to tenants such as Amazon, Tesla, Fedex and many other local and national tenants. Lot A is zoned Light Industrial and has 2.62 total acres with 1.50 usable acres. The entire 1.50 acres is concrete paved, and it has a mobile office and multiple sea containers for storage. Lot A is leased by Wilcoxon Construction on a year-to-year basis that expires at the end of every calendar year. Lot B has county Heavy Industrial zoning and is a 5.21-acre parcel with 4.11 usable acres. The usable area is entirely concrete-paved and has multiple small office and warehouse buildings totaling 31,065 SF. Wilcoxon Construction currently leases most of the parcel until the end of 2022 with the remainder occupied by the owner, Paddock Swimming Pool Company, which will lease back their space upon closing. Lot C is a 3.43-acre parcel with 2.10 usable acres. It has a gravel surface and no permanent buildings. It will be delivered vacant. Industrial outdoor storage sites are scarce in Montgomery County and virtually all of them are fully occupied. Outdoor storage rents stood at $3.50/SF as of 2020 with few more recent comps due to a lack of vacancy. This site provides easy access to major transportation routes and to Washington, D.C. The ownership will consider both lease and purchase offers and will consider leasing or selling parcels separately or together.