Rarely Available Commercial Property on Wheel Rd in Bel Air. Currently divided into four units and being used as an auto repair shop, insurance office, and two residential units with large parking lot set back from the street. One of the residential apartments is currently vacant with an $1800/ mo… Read More potential rent. Rents are currently below market value; excellent value-add opportunity as tenants below market are on short term leases. Property appraised in 2022 for $700,000. Showings will only be permitted once a contract is ratified. Buyer may build in showing contingency. This is to minimize the burden on the tenants. Owner is willing to do repairs to the vacant residential unit but is waiting to do so in the event an interested purchaser would rather convert the residence to office space. Owner is not certain this can be done. It would be the buyer's responsibility to determine the property would work for their planned use. Appraisal noted potential gross annual rent of $80,471 with modified gross leases. Lot lines on satellite image are approximate. Read Less
Courtesy of P. Daniel Covington, RE/MAX Advantage Realty [email protected]
Listing Snapshot
Days Online
42
Last Updated
Property Type
Mixed Use
Square Ft.
3,956
Lot Size
0.76 Acres
Year Built
1981
MLS Number
MDHR2036646
30 Days Snapshot Of 21015
$526k
+3%
(avg) sold price
33
-2%
homes sold
26
+13%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
8,339 net sqft, 3,956 total building sqft, Built in 1981, 2 units in building, Frame
Cooling
Central Air, Electric, Central A/C
Accessibility Features
Other
Heating
Electric, Oil, Heat Pump(s)
Lot
33,279 sqft, 0.76 acres
Sewer
Public Sewer
Taxes
County Tax: $7,519, County Tax Pymnt Freq: Annually, Tax Annual Amount: $7,519, Tax Year: 2024
Utilities
Hot Water: Electric
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