4800 Indian Head Hwy, Oxon Hill, MD 20745
33,916 SF | Retail Building | Oxon Hill, MD 20745 | $5,371,000 ($158/SF) | 8.75% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $5,371,000
- Property Type
-
Retail
- Square Feet
- 33,916 SF
- Price / Square Foot
- $158
Listing Contacts
Michael Isen
Verified Profile
Michael DiMeglio
Verified Profile
- Property Info
Property Overview
NAI Michael is pleased to offer for sale a freestanding retail building that is fully leased to Forman Mills. The property is located at 4800 Indian Head Highway (MD 210), Oxon Hill, Maryland 20640.
This 2.29-acre corner property is located along Southern Avenue, the southeastern border with the District of Columbia, and Indian Head Highway (Route 210) a heavily traveled artery - averaging 31,745 vehicles per day - connecting the District of Columbia to surrounding Maryland suburbs.
Recently, the sellers installed new road access to provide direct right-in/right-out access to Indian Head Highway. Forman Mills is directly across Indian Head Highway from Eastover Plaza, a 171,000+/- SF Giant Food anchored shopping center. Giant Food is the highest grossing grocery chain in the DC region.
This prominent property was fully renovated in 2018. This asset provides a solid in-place income, and the underlying zoning - CGO (Commercial General Office) - allows for multiple adaptive reuses or future redevelopment.
The Forman Mills asset provides the new ownership with minimal landlord responsibilities, plus 7 years remaining on the lease with two
renewal options to extend. The site offers excellent future redevelopment and adaptive reuses.
This 2.29-acre corner property is located along Southern Avenue, the southeastern border with the District of Columbia, and Indian Head Highway (Route 210) a heavily traveled artery - averaging 31,745 vehicles per day - connecting the District of Columbia to surrounding Maryland suburbs.
Recently, the sellers installed new road access to provide direct right-in/right-out access to Indian Head Highway. Forman Mills is directly across Indian Head Highway from Eastover Plaza, a 171,000+/- SF Giant Food anchored shopping center. Giant Food is the highest grossing grocery chain in the DC region.
This prominent property was fully renovated in 2018. This asset provides a solid in-place income, and the underlying zoning - CGO (Commercial General Office) - allows for multiple adaptive reuses or future redevelopment.
The Forman Mills asset provides the new ownership with minimal landlord responsibilities, plus 7 years remaining on the lease with two
renewal options to extend. The site offers excellent future redevelopment and adaptive reuses.
Property Details
- Class
- C
- Year Built/Renovated
- 1960/2018
- Stories
- 1
- Property Subtype
- Freestanding, Storefront
- Lot Size (sq. ft)
- 100,188 SF
Highlights
- Corner location at signalized intersection on major roads
- Newly built direct ingress and egress on Indian Head Highway
- Tenant is reporting annual gross sales numbers
- Below market rent and minimal landlord obligations
- Long-term corporate lease
- Opportunity for future redevelopment and adaptive reuses
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