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Industrial

Rockville Industrial Outdoor Storage

15120 Southlawn Ln, Rockville, MD 20850

Listing Price: Request For Offer

Lot Size
11.26 acres
Land Type
Land
Buildable Square Feet
35,061

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.

Investment Highlights

  • 11.26 Total Acres with 7.71 Usable Acres on Three Parcels
  • Fenced Lots, Two with Concrete Paving and One with Gravel
  • Outdoor Storage is Scarce and Rents Have Steadily Increased
  • No Nearby Uses that Could Limit Conditional Use Applications
  • Nearby MD-355, ICC, I-270 and 30 Min. to Washington, D.C.

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804, PA: ABR005179

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Industrial

Rockville Industrial Outdoor Storage

Listing Price: Request For Offer

Lot Size
11.26 acres
Land Type
Land
Buildable Square Feet
35,061

Investment Highlights

  • 11.26 Total Acres with 7.71 Usable Acres on Three Parcels
  • Fenced Lots, Two with Concrete Paving and One with Gravel
  • Outdoor Storage is Scarce and Rents Have Steadily Increased
  • No Nearby Uses that Could Limit Conditional Use Applications
  • Nearby MD-355, ICC, I-270 and 30 Min. to Washington, D.C.

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.

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804, PA: ABR005179

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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