Fully Leased Freestanding Retail

4800 Indian Head Highway, Oxon Hill, MD

$5,850,000

Price

33,916 sqft

Building Size

2.29 acres

Lot Area

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Street
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Overview
Building Size
33,916 sqft
Lot Area
2.29 acres
Occupancy
100%
Description

NAI Michael is pleased to offer for sale a freestanding retail building that is fully leased to Forman Mills. The property is located at 4800 Indian Head Highway (MD 210), Oxon Hill, Maryland 20640.

This prominent property was fully renovated in 2018. This asset provides a solid in-place income, and the underlying zoning - CGO (Commercial General Office) - allows for multiple adaptive reuses or future redevelopment. The Forman Mills asset provides the new ownership with minimal landlord responsibilities, plus 7 years remaining on the lease with two renewal options to extend. The site offers excellent future redevelopment and adaptive reuses.

This 2.29-acre corner property is located along Southern Avenue, the southeastern border with the District of Columbia, and Indian Head Highway (Route 210) a heavily traveled artery - averaging 31,745 vehicles per day - connecting the District of Columbia to surrounding Maryland suburbs.

Recently, the sellers installed new road access to provide direct right-in/right-out access to Indian Head Highway. Forman Mills is directly across Indian Head Highway from Eastover Plaza, a 171,000+/- SF Giant Food anchored shopping center. Giant Food is the highest grossing grocery chain in the DC region.

Highlights
  • Corner location at signalized intersection on major roads
  • Newly built direct ingress and egress on Indian Head Highway
  • Building fully renovated in 2018
  • Long-term corporate lease
  • Tenant is reporting annual gross sales numbers
  • Below market rent
  • Strong retail corridor
  • Minimal landlord obligations
  • Prominently located at the hard corner of DC's Southern Avenue and Indian Head Hwy (MD Route 210)
  • Surrounded by high quality retailers including Giant Food, CVS, Citi Trends, Planet Fitness, Dollar Tree, and Advanced Auto, among others
  • Adjacent to a recent completed 152-unit senior housing development, Livingston Place at Southern Avenue
  • Easily accessible to public transportation, such as Southern Avenue Metro Station, Metro Bus and Prince George's TheBus
  • Average daily traffic on Indian Head Highway is 34,295 vehicles (MD SHA) and 15,724 on Southern Avenue (DDOT)
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