allegheny avenue towson, md

Transcription

1

2 MACKENZIE RETAIL, LLC, on behalf of Raven s Penthouse, LLC, is pleased to offer this 48,936 square foot mixed-use Sale/Lease opportunity in the heart of Towson in Baltimore County, MD. This unique offering features 6,995 square feet of renovated ground floor retail space and 12,994 rentable square feet General Services Administration leased office space. These commercial condo units are part of the Penthouse Condominium Building located at the corner of Allegheny Avenue and Washington Avenue, with direct access to structured parking and located within a few blocks of Towson Town Center Mall, Baltimore County Court House and Towson University. INVESTMENT HIGHLIGHTS Diversified income stream Value add potential Recently renovated 12,994 GSA lease through February 2022 Class B liquor license available for restaurant tenant Average household income of $63,834 and 305,560 population OFFERING SUMMARY TH FLOOR 27TH FLOOR 26TH FLOOR 25TH FLOOR 24TH FLOOR 23 FLOOR 22ND FLOOR 21ST FLOOR 20TH FLOOR 19TH FLOOR 18TH FLOOR 17TH FLOOR 16TH FLOOR 15TH FLOOR 14TH FLOOR 13TH FLOOR 12TH FLOOR 11TH FLOOR 10TH FLOOR 9TH FLOOR 8TH FLOOR 7TH FLOOR SALE BREAKDOWN Business Unit 1 (3rd Floor) Business Unit 2 (3rd Floor) Business Unit 3 (3rd Floor) Business Unit 6 (4th Floor) Business Unit 4 (3rd Floor) Business Unit 7 (4th Floor) Business Unit 5 (4th Floor) Business Unit 8 (5th Floor) Business Unit 9 (6th Floor) SF/ PRICE 1,829 SF 1,472 SF $400,000 1,846 SF 1,316 SF $250,000 1,848 SF 1,068 SF $250,000 12,994 SF $375,000 15,638 SF $425,000 11,055 SF $300,000 CUMULATIVE SALE PRICE $2,000,000 Sale Price $2,000,000 Retail Rental Rate: Negotiable Office Rental Rate: Negotiable Square Footage 48,936 sf Retail (GLA) 6,995 sf Office (GLA) 39,687 sf Years Renovated Type of Ownership Condominium Total Building Size 336,000 sf ± 6TH FLOOR 5TH FLOOR 4TH FLOOR 3 FLOOR 2ND FLOOR 1ST FLOOR WASHINGTON AVE ALLEGHENY AVE 6TH FLOOR 5TH FLOOR 4TH FLOOR 3 FLOOR (GROUND LEVEL) PARKING the offering 1

3 Built in 1974, Allegheny Avenue is a 336,000 square foot mixed-use project featuring residential, retail and office units, as well as a structured parking garage. Located in Towson, the county seat of Baltimore County, Allegheny Avenue is a sought-after location within walking distance to executive and administrative offices of both local and state courthouses, as well as some of Towson s most popular amenities. PROPERTY INFORMATION Property Addresss: Property Type: Assessor s Parcel Number Allegheny Avenue Towson, Maryland Class B Mixed-Use Condominium High-Rise Business Unit 1 - Ground Level Retail Business Unit 2 - Ground Level Retail Business Unit 3 - Ground Level Retail Business Unit 4 - Ground Level Retail Business Unit 5-4th Floor Office Business Unit 6-4th Floor Storage Business Unit 7-4th Floor Storage Business Unit 8-5th Floor Office Business Unit 9-6th Floor Office SITE DESCRIPTION Total Gross SF GLA Office GLA Retail Parcel Size Type of Ownership Zoning 48,936 sf 39,687 sf 6,874 sf 0.59 Acres Condominium BM-CT, County Parking 400 reserved and unreserved spaces available for lease in the building s parking garage at market rate Utilities Public water & sewer Street Frontage Allegheny/Washington Ave, Joppa Rd Highway Access I-695 CONSTRUCTION Year Built 1974; Renovated Construction Type Concrete and glass Number of Floors MECHANICAL Elevator (4) Four Heating Individual electric units property overview Cooling Building-supplied chiller system 2

4 JOPPA units 1, 2, 3, 4 3rd floor (STREET LEVEL) available leased GTON AVE WASHIN LEVEL #3 PARKING GARAGE unit 1 1,829 sf unit 2 1,472 sf unit 3 1,846 sf unit 4 1,848 sf 2ND GEN. RESTAURANT 2ND GEN. SALON 2ND GEN. RESTAURANT 2ND GEN. RESTAURANT floor plan: 3rd floor (street level) ALLEGHENY AVE 3

5 JOPPA units 5, 6, 7 4th floor available leased GTON AVE WASHIN unit 5 12,994 sf unit 6 1,316 sf unit 7 1,068 sf floor plan: 4th floor ALLEGHENY AVE 4

6 BALCONY ELEVATOR JOPPA unit 8 5th floor GTON AVE WASHIN 508 BALCONY GARAGE GARAGE Suite Tenant SF 500 Penthouse LLC 3, Vacant 1, Property Management RedBird Technology Baltimore Bariatrics Vacant Brand, Fiorentino, Schwarting 1, Care Free Inc Vacant 1, Vacant Vacant FirstService Residential 1, Baltimore Bariatrics 924 available leased BALCONY 500 ELEVATOR GARAGE MECH. RM. GARAGE RESTROOMS STAIRS BALCONY BALCONY BALCONY BALCONY BALCONY floor plan: 5th floor ALLEGHENY AVE 5

7 JOPPA unit 9 6th floor available leased GTON AVE WASHIN LEVEL #6 PARKING GARAGE MEN S TOILET JAN. WOMEN S TOILET unit 9 11,055 sf BALCONY BALCONY BALCONY BALCONY BALCONY floor plan: 6th floor ALLEGHENY AVE 6

8 monthly & annual expense estimates UNIT: SQ FT PERCENTAGE 2018 CONDOMINIUM ASSESSMENT 2018 CONDOMINIUM SPECIAL ASSESSMENT MONTHLY REAL ESTATE TAX MONTHLY INSURANCE MONTHLY COST MONTHLY EXPENSES Business Unit , Business Unit , , Business Unit , , Business Unit , , Business Unit , , , , Business Unit Business Unit Business Unit , , , Business Unit , , TOTAL: , , , , ANNUAL EXPENSES Business Unit , , , , Business Unit ,985. 2, , , Business Unit , , , , Business Unit , , , , Business Unit , , , , , Business Unit , , , , Business Unit , , , Business Unit , , , , , Business Unit , , , , , TOTAL: , , ,679. 7, , monthly & annual expense estimates 7

9 45 R YO K 5 7-ELEVEN 9 FIVE GUYS 26 CHARLES VILLAGE PUB 10 MCDONALD S 11 VERIZON WIRELESS 12 BURGER KING 13 TOWSON DINER PAPA JOHN S 37 A SEASONS PIZZA 38 ANYTIME FITNESS 39 STARBUCKS NNA AVE E AV W SUSQUEHA ALABAM M&TBBANK LVD W ON TOWN AVE DUNKIN DONUTS 36 DIX IE WO OD BIN EA VE HIGHLAN 35 DR DOMINO S PIZZA 26 local trade area E PENNSYLVANIA AVE E JOP PA E IDENC PROV E TOWSONTOWN BLVD STEVENSON LN LOTSA STONE FIRED PIZZA ELEVEN LVD LEN W PENNSYLVAN IA AVE HER B 17 HIL SUBWAY GOUC 31 K THE GREENE TURTLE W CHESAPEAKE AVE R YO THE MELTING POT URBAN OUTFITTERS Y MACY S NOSTROM CRATE & BARREL THE CHEESECAKE FACTORY P.F. CHANG S STONEY RIVER STEAKHOUSE 16 SUNTRUST BANK 17 CUNNINGHAM S TOWS PPA E SL 15 TOWSON TOWN CENTER W JO BO THE FRESH MARKET STARBUCKS LOFT CHICO S SMOOTHIE KING PASTA MISTA RACE PACE BICYCLES RECO & TAPE TRADERS 15 ALL27 COMMONS EGHTOWSON ENY A LA FITNESS VE CVS CHIPOTLE BOHO NATION KYODAI ROTATING SUSHI BAR 14 DULANEY PLAZA AVE 25 UNT 8 WALGREENS CENTRAL WELLS FARGO 13 D AVE M&T BANK FAIR MO CINEMARK BONEFISH GRILL BJ S RESTAURANT WORLD OF BEER ON THE BOER NANDO S PERI-PERI BOBBY S BURGER PALACE E AV E 24 TOWSON SQUARE 6 CVS 7 EY SL BO CENTRE AV THE REC ROOM EY VAL L ZIA S DULAN 22 4 SAFEWAY VE TA AAA Z BURGER 146 N OU RM 3 PPA 21 7 I FA GOODWILL FIDELITY INVESTMENTS NILW ORTBAGLERY + DELI 19 THB HD R 20 CAFE TROIA STEBBINS ANDERSON ITALIAN GAENS JOS. A. BANK BB&T ATWATER S WJ LAX WORLD O MARYLAND AVE 2 1 THE SHOPS AT KENILWORTHK E 4 3 EY ST WE YORK 1 BURKE AVE HILLEN 8

10 CONTACT: mike ruocco vice president MacKenzie retail, llc No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors and omissions. The listing agent is acting on behalf of his immediate family, who are owners of this asset. In addition, the managing members of this ownership group hold Salesperson/Brokerage Licenses in the state of Maryland. MacKenzie Commercial Real Estate Services, LLC W. Joppa Road, Suite 200 Lutherville-Timonium, Maryland