101 Chestnut Street 5A, Gaithersburg, MD 20877 | Magnolia Realty

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$325,995
637 Days Online

101 Chestnut Street #5A
Gaithersburg, MD 20877

For Sale|Commercial|Active
0
Beds
0
Full Baths
0
Partial Baths

SqFt

/SqFt
1984
Built
County:
Montgomery

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101 Chestnut Street101 Chestnut Street101 Chestnut Street101 Chestnut Street
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Tenant Renewed Early for 3rd Time 1st Floor Oppty/HUBZone Owner Occupant Oppty Approx. 1000 SF Gaithersburg MD Lease now extends to 11/30/28. Also, the Lease has flexibility for a Buyer since there is an option in the Lease for the New Owner to maintain the current Renewed Favorable Lease or terminate the Lease if they wish to be an Owner Occupant Buyer! Rarely available HUBZone/Opportunity Zone property. 1st floor location in this highly desirable business park. This Recession proof stable investment property is currently leased to a very successful established organization that has a diversified business portfolio including tax preparation services, translation services, vending machine sales and others. They outgrew their previous location and moved to this location in 2019 and signed an initial one year lease but renewed early three times now and the Lease now runs through 11/30/2028. Minimal Landlord Responsibilities. The Landlord pays base real estate taxes and condo fees. Tenant pays any increase from base real estate taxes and condo fees. Lease includes annual increases of 4%. Tenant pays for repairs as well as Utilities (Water and Electric), Cleaning and upkeep. The Current owner invested approximately 20K in renovations to accommodate tenant including a new HVAC in 2016. This is rare opportunity to own the most prized area of any building (the 1st Floor Retail/Medical office space) without having the challenges of leasing or owning standard higher floors office space. This Beautiful Office Condo Community located next to the Historic Chestnut Meem District is a hidden gem in Montgomery County, MD. This first floor Office Condo located in Suite 120 (5A) has 4 large windowed offices, a reception area, private restroom, 2 exterior entrances and free and plentiful parking. The community just reinvested in a new roof, gutters and repaving of the parking lot. Excellent location near Montgomery County Fair Grounds, restaurants, shopping and very close to both 355 and I-270. This property is located in a Tax advantaged Opportunity Zone creating an attractive long term real estate investment. This property is also located in a Federally Designated HUBZone area which is an excellent opportunity for a long term tenant Government Contractor or an Owner/User Government Contractor who needs that location status. Cap rate includes estimated tax benefits in the calculation. Great long term stable investment opportunity or excellent Owner Occupied opportunity to build equity and provide a financial nest egg for your future.

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Listing Snapshot
Price 
$325,995
Days Online 
637 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
1984
MLS Number 
MDMC2036404
Status 
Active
Property Tax 
$2,286
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
13 hours agoListing updated with changes from the MLS
6 months agoPrice changed to $325,995
8 months agoPrice changed to $289,995
a year agoPrice changed to $279,995
2 years agoListing first seen online
General Features
Water 
Public
Sewer 
Public Sewer
Utilities 
Cable TVElectric Available
Construction Materials 
BrickStoneVinyl Siding
Zoning 
RB
Acceptable Financing 
CashContractConventionalFHA
Interior Features
Heating 
Energy Star Heating SystemCentral
Cooling 
Energy Star Cooling SystemCentral A/C
Central Air 
Yes
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Exterior Features
Roof 
Shingle
Community Features
Accessibility Features 
Level Entry - Main
Listing courtesy of Paradise Realty, Inc. ?



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Neighborhood & Commute
Source: Walkscore
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