Average square foot calculated using Size range provided by listing agent.
Description
Exceptional investment opportunity in the heart of Downtown Frederick! This fully leased commercial property is currently operating as a daycare with a 3-year lease in place through March 2029. Annual rental income increases from $109, 800 in Year 1 to $126, 000 in Year 3. Estimated Year 1 NOI is $90, 800, offering a solid 7.26% cap rate and projected 3-year average cap rate of 7.95%. The tenant pays all utilities and exterior maintenance, with the owner only covering taxes and building insurance (~$19, 000/year). Over $300K in recent renovations, including a permitted addition, have been completed. While currently set up for childcare use, the layout also supports future office or professional service tenancy. Strong cash flow today with long-term rental upside and use flexibility tomorrow.Show Description
MLS® Number2480909
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1990
Stories
Pets
Corp Number
Included in Maintenance Fee
Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance
Utilities
Heat
A/C
Heating Fuel
Extras
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