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Ground Lease Sale Of Retail Property In Clarksburg, MD For $8.2M

Property Image
SOLD
$8,200,000
Sheree Strome
Michael Berk

Maryland

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Retail8,000 SF
Sold 11/09/2022
the dealplayerscompscontact
Property Image
SOLD

Ground Lease Sale Of Retail Property In Clarksburg, MD For $8.2M

22702 Gosnell Farm Drive, Clarksburg, Maryland 20841, United States

See Similar Deals
Retail8,000 SF
Sold 11/09/2022
Sheree Strome
Michael Berk
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:Retail
Price Per Square Foot:$1,025
Total Square Footage:8,000 SF
Transaction Type:Sale

A ground-lease sale transaction has taken place in Clarksburg, MD. The property involved is a retail asset spanning 2.7 acres located at 22702 Gosnell Farm Drive. The deal was facilitated by Michael Berk and Sheree Strome of SRS Real Estate Partners. The sale price for the property was $8,200,000, with a total square footage of 8,000. This translates to a price per square foot of $1,025.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $8,200,000
  • Address: 22702 Gosnell Farm Drive, Clarksburg, MD
  • Market: Clarksburg, MD
  • Brokers: Michael Berk and Sheree Strome - SRS Real Estate Partners
  • Property Size: 2.7 acres
  • Square Footage: 8,000
  • Price per Square Foot: $1,025

The ground-lease sale was successfully executed with the involvement of Michael Berk and Sheree Strome from SRS Real Estate Partners. Their expertise and representation played a pivotal role in facilitating the transaction.

Players

Michael Berk
SRS Real Estate Partners
Michael Berk
4 deals$31M volume(770) 402-3432
BROKER
Sheree Strome
SRS Real Estate Partners
Sheree Strome
1 deal$8.2M volume(770) 617-2149
BROKER

Details

SOLD
IMAGE: SALE IMAGE: Michael Berk and Sheree Strome DATE: 11/09/2022 ADDRESS: 22702 Gosnell Farm Drive MARKET: Clarksburg, MD ASSET TYPE: Retail ~ ACRES: 2.7 BROKERS: Michael Berk and Sheree Strome - SRS Real Estate Partners SALE PRICE: $8,200,000 SF: 8,000 ~ PPSF: $1,025

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$437,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20