Overview

Description

NAI Michael has been retained by Ownership as the exclusive representative for the disposition of 4607 Knox Road in College
Park, MD, a free-standing student housing property near the University of Maryland.

4607 Knox Road is a 25-unit, 42-bed property, comprised of approximately 13,000 square feet situated on 0.425 acres of land.
The property is leased to the TEP Organization (Tau Epsilon Phi Housing Corporation LTD) for the 2023-2024 season (June
2023 to May 2024). 4607 Knox Road has the capacity of being expanded by 6 beds, for a total 48 beds, providing significant
upside potential for a purchaser.

4607 Knox Road is situated in the affluent and growing city of College Park, home of the University of Maryland. It is diverse in character and history, starting from a small agricultural college to now a large state university that has many residential neighborhoods, local shopping, restaurants and entertainment. College Park has seen a lot of new residential and retail development along its Route 1 corridor (Baltimore Avenue). Whole Foods and Trader Joe's have recently opened in the market, both of which complement the existing retail and other amenities. In addition, College Park has recently been improved by two new class A hotels (The Hotel@UMD and The Cambria). The University of Maryland has undergone immense growth in the last twenty years and continues to see expansion.

The subject property is ideally situated a few blocks east of Route 1 (Baltimore Avenue) and the University of Maryland. This extremely desirable and convenient location gives student tenants quick access to walk or bike to the University and the area’s amenities, such as restaurants, bars, banks, shopping and more. Route 1 (Baltimore Avenue) is a major transportation artery that serves suburban Maryland and Washington DC, and also provides excellent access to the Capital Beltway (I-95/I-495), which is approximately 3 miles from the property. The property is also served by multiple public transportation options including:
• Shuttle UM
• College Park Metro station (0.4 miles)
• Greenbelt Metro station (3.2 miles)
• College Park MARC: Camden Line, connecting DC and Baltimore (0.4 miles)
• Prince George’s County bus and MetroBus systems

Highlights

• Fully leased for the 2023-2024 season with one renewal option of one year
• 13,000± SF
• 25 units and 42 beds - expansion capability for 6 additional beds!
• Recently renovated in 2023
• Off-street parking available
• LOCATED IN OPPORTUNITY ZONE
• Easy walking distance to University of Maryland campus
• Over 41,000 students at UMD
• Close to numerous amenities in downtown College Park, including restaurants, entertainment, shopping, and hotels
• Prominent institutions nearby include NOAA, NASA Goddard, American Center of Physics, Javazen, Raytheon, and USDA & FDA branches

Documents

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