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Warehouse

5225 Kilmer Pl

5225 Kilmer Pl, Hyattsville, MD 20781

Listing Price: $7,000,000

Cap Rate
1.09%
Gross SF
76,665
Price/Gross SF
$91.31
Lot Size
1.76 acres
Year Built
1969
Rentable SF
60,970

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 5225 Kilmer Place, Hyattsville, MD (the “Property”). The property is a 60,970 SF multi-tenant warehouse on 1.2-acres and a separate 0.56-acre parcel used for outdoor storage. It’s located nearby Kenilworth Avenue, close to the D.C. border, with easy access to Route 50, I-495 and the B-W Parkway. Currently Georgetown Roofing occupies 23,278 SF and pays $6.95/SF on a month-to-month basis. Georgetown Roofing sold the building to the current owner in 2005 as a partial sale-leaseback. A1 Auto Parts & Recycling occupies 37,629 SF and upon closing will execute a 6-month leaseback on their space which provides them time to vacate the property. Built in 1969, the property features 9 loading docks, 2 drive-in doors and 18’ clear heights. In 2004 the original structure was expanded with a 25,000 SF metal warehouse addition. In 2016 a new roof was installed. The sale also includes a 0.56-acre paved parcel directly across the street from the building. The fenced and gated yard has a special exception for vehicle storage and is currently used by A1 Auto. This lot will become vacant at the expiration of the 6-month leaseback. This offering is ideal for a value-add investor. Georgetown Roofing’s rent is at least $2/SF below market as is A1 Auto’s leaseback rent. The building can be divided for up to 3 tenants and the included IOS land could be leased separately or used to support leasing of the main building space.

Investment Highlights

  • Infill Location with Quick Access to I-495, B-W Pkwy & DC
  • Value-Add Opportunity with Below Market Rents
  • Includes a Separate Outdoor Storage Parcel Across the Street
  • Long-term Tenants with Extensive Operating History in Building
  • Two Story Warehouse with At-Grade Access for Both Levels

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

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

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

Warehouse

5225 Kilmer Pl

Listing Price: $7,000,000

Cap Rate
1.09%
Gross SF
76,665
Price/Gross SF
$91.31
Lot Size
1.76 acres
Year Built
1969
Rentable SF
60,970

Investment Highlights

  • Infill Location with Quick Access to I-495, B-W Pkwy & DC
  • Value-Add Opportunity with Below Market Rents
  • Includes a Separate Outdoor Storage Parcel Across the Street
  • Long-term Tenants with Extensive Operating History in Building
  • Two Story Warehouse with At-Grade Access for Both Levels

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 5225 Kilmer Place, Hyattsville, MD (the “Property”). The property is a 60,970 SF multi-tenant warehouse on 1.2-acres and a separate 0.56-acre parcel used for outdoor storage. It’s located nearby Kenilworth Avenue, close to the D.C. border, with easy access to Route 50, I-495 and the B-W Parkway. Currently Georgetown Roofing occupies 23,278 SF and pays $6.95/SF on a month-to-month basis. Georgetown Roofing sold the building to the current owner in 2005 as a partial sale-leaseback. A1 Auto Parts & Recycling occupies 37,629 SF and upon closing will execute a 6-month leaseback on their space which provides them time to vacate the property. Built in 1969, the property features 9 loading docks, 2 drive-in doors and 18’ clear heights. In 2004 the original structure was expanded with a 25,000 SF metal warehouse addition. In 2016 a new roof was installed. The sale also includes a 0.56-acre paved parcel directly across the street from the building. The fenced and gated yard has a special exception for vehicle storage and is currently used by A1 Auto. This lot will become vacant at the expiration of the 6-month leaseback. This offering is ideal for a value-add investor. Georgetown Roofing’s rent is at least $2/SF below market as is A1 Auto’s leaseback rent. The building can be divided for up to 3 tenants and the included IOS land could be leased separately or used to support leasing of the main building space.

Exclusively Listed By

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

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

    Washington, D.C.

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

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