Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 2305 51st Place, Hyattsville, MD 20781. This 15,120 SF warehouse sits on a 0.48-acre lot with heavy industrial zoning. It is conveniently located at the intersection of US-50 and the Baltimore-Washington Parkway, providing quick access to I-495 and Washington, D.C. The building is currently occupied by Action Fabricators and Erectors, LLC on an absolute NNN lease with approximately 1 year remaining and no renewal options. The lease can be terminated with a 90-day written notice, making this opportunity ideal for an owner-user. The warehouse consists of two large spaces: one with concrete block construction and the other sheet metal construction. The concrete portion is 15,120 SF, including roughly 2,520 SF of second story office space. The warehouse features 18’ clear heights, 2 cranes, 4 gas-fired heaters, 1 bathroom, and a break room that includes private lockers. Additionally, there is a large mezzanine area that includes additional office and/or storage space. The office is two stories with two separate stairways connecting the two floors. The first-floor features 2 large rooms with multiple personal desks in each, a reception area, kitchen area, and 2 bathrooms. The second-floor consists of 4 private offices, 2 bathrooms, washer/dryer hook up, and connects to the mezzanine area in the warehouse. An interior oversized drive-in door connects the 15,120 SF concrete-block warehouse to the metal-construction storage area. This storage area features high ceilings and is currently used primarily for vehicle parking. There are three additional oversized drive-in doors to the exterior of the building from the metal-covered storage area. Strategically located just 2-minutes from the D.C. border, 2305 51st Place sits in an infill industrial pocket with many national brands, such as Pepsi, Sunbelt Rentals, and United Rentals. The industrial vacancy rate (for buildings 100k SF or less) within 1-mile is 2.30% with 7.40% annual rent growth. This opportunity is ideal for an owner-user seeking industrial space with heavy industrial zoning, high ceilings, and in a convenient location near multiple highways and Washington D.C. or for an investor looking to capture rental upside with the current rent being approximately $3/SF below market.