Active

8216 Georgia Ave

Silver Spring MD, 20910

$4,000,000


$684.58 per sqft

Active

5,843 sqft

Commercial

Built in 1922

FULLY LEASED - INVESTMENT BUILDING
FOR SALE

5,843 Sq. Ft.
8216 Georgia Avenue
Silver Spring, Maryland 20910

TENANT: Entire property is leased to Third Hill Brewing Co. through February 28, 2029. There are 15% rental increases every 5-year period. Tenant has 2 five-year options to extend. This is a NNN lease except landlord covers the fire insurance cost. Tenant pays real estate tax, utilities, all maintenance including roof, structure, HVAC and other interior components.

SQUARE FEET: 5,843 s.f. of building at street level. The property contains +/- 7,062 square feet of land.

SALES PRICE: $4,000,000 5.8% cap rate

REAL ESTATE TAX / INSURANCE: 2023 real estate taxes of $22,045 paid by tenant & building insurance of $1,482 paid by landlord.

IMPROVEMENTS: This is a single level in-line cinderblock and brick retail building facing Georgia Avenue in downtown Silver Spring. There are multiple access points from the front, side and rear. The space is wheelchair accessible from a ramp along the side of the building and the building is sprinklered. The primary structure was built around 1922, however in 2017 the building was gutted and completely redesigned for its current use and brought up to code. There are two HVAC package units (10 ton and 5 ton) with gas fired furnace heat and electric A/C on the roof and interior ductwork providing central heat and air. The floors are smooth concrete. The roof is a white TPO rubber system with R-25 rigid insulation.

The interior is designed in sections that include the large Tap Room in the front along Georgia Ave., the large rear Brewery Room, exterior dining/gathering area, a kitchen, two large bathrooms, large walk-in cooler, office, storage and trash room.

The Tap Room contains seating for +/- 60 people with plenty of additional standing room as well, along with exterior elevated seating with a full canopy above with 4 large tables that can accommodate an additional +/- 24 people. The Tap Room has a bar / counter, 16 beer taps, hand sink, dishwashing station, customer water dispenser and two large glass panel roll up doors that provide an open and airy sensation to the space. There are high ceilings throughout the building.

The large Brewery Room contains multiple stainless steel fermenter tanks and brewing equipment. This area has high ceilings, skylights, floor drain, storage, etc. There is a large open area allowing people to gather and view the activities within this space.

There is a Kitchen area (+/- 216 s.f.) for assembling of prepared foods. This room contains 4 refrigerators, 3 compartment sink, 2 handsinks and counters. There is no hood system. There is a large walk-in cooler (+/- 400 s.f.) for storage of kegs and other beverages.

SECURITY AGREEMENT: In the event of a default under the lease by tenant, landlord holds a lien on tenant's equipment. A full list of the secured items can be provided as needed.

MDMC2139366

MLS ID

July 8, 2024

Listed

July 8, 2024

Updated

Map

8216 Georgia Ave
Silver Spring MD, 20910

Interior Features

Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Natural Gas

Exterior/Building Features

Lot Size

0.16 Acres


Sewer

Public Sewer

Other Property Details

Taxes

$22,045


Tax Frequency

Annually


Days on Market

1


Garage

No


Parking

On Street


View

No


County

MONTGOMERY


Water Source

Public


Pool

No

Listed by Lawrence Rosen, with Commercial & Investment Realty Associates, LLC.
Listing Contact: 3017938901 

The IDX display contains information sourced from the Bright MLS, Inc. as of 7/8/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 7/8/2024 at 3:40 PM UTC

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