Updated Sep 30, 2026
1788 Holdings Acquires 51 Ritchie Road Industrial Property In Capitol Heights For $15M
51 Ritchie Road
$15,000,000
$145/SF
Building Size
103,000 SF
Asset Type
Industrial
Closing
Sep 28, 2026
About this deal
AI
The property involved in this transaction is located at 51 Ritchie Road in Capitol Heights, MD. It is an industrial asset encompassing approximately 8 acres, featuring 103,000 square feet of usable space. The sale was finalized at a price of $15 million, translating to a price per square foot of $146. The site includes two acres designated for industrial outdoor storage, and it is fully leased to Bay Crane Mid-Atlantic.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 51 Ritchie Road
- Market: Capitol Heights, MD
- Asset Size: 8 acres
- Square Footage: 103,000
- Price per Square Foot: $146
- Buyer: 1788 Holdings
- Seller: McClung-Logan Equipment Inc
- Brokers: Matt Laraway & Luke Wilson - CBRE
In this transaction, 1788 Holdings acquired the property from McClung-Logan Equipment Inc. The deal was facilitated by brokers Matt Laraway and Luke Wilson from CBRE, who represented the parties involved in the sale.
On the Map
$15,000,000
$145/SF
Industrial
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Players
Capitol Heights Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93