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20311 Lappans Rd 8,216 SF 100% Leased Office Building Boonsboro, MD 21713 $2,905,119 CAD ($353.59 CAD/SF) 7.09% Cap Rate
EXECUTIVE SUMMARY
Modern, multi-tenant, medical office building located within the northern town
limits of Boonsboro. It is further located along the south side of Lappans Road (MD. Rentie 68)
just west of it's signalized intersection with Old National Pike (U.S. Alternate Route 40). The
subject contains 5 total acres which was recently subdivided into two lots of record. The
subdivision was approved on 08/23/2022. Lot I is near rectangular in shape and contains 1.44 acres.
It is fully developed for the leased medical office building and associated site improvements (i.e.
paved driveway and parking lot areas, landscaping, sidewalks, etc.). The remaining lands or Lot 2
contains 3.56 acres, is L-shaped, and mostly wooded with some cleared sections within the southeast
portion of the property. Lot 2 can be purchased as part of this transaction. In the same general vicinity, the owner recently built a storage building
(32' x 40'). In consideration to the medical office building,
it is demised into four medical office related suites and all are currently leased.
The owner reported he made about $260,000 in renovations since he
purchased the property.
limits of Boonsboro. It is further located along the south side of Lappans Road (MD. Rentie 68)
just west of it's signalized intersection with Old National Pike (U.S. Alternate Route 40). The
subject contains 5 total acres which was recently subdivided into two lots of record. The
subdivision was approved on 08/23/2022. Lot I is near rectangular in shape and contains 1.44 acres.
It is fully developed for the leased medical office building and associated site improvements (i.e.
paved driveway and parking lot areas, landscaping, sidewalks, etc.). The remaining lands or Lot 2
contains 3.56 acres, is L-shaped, and mostly wooded with some cleared sections within the southeast
portion of the property. Lot 2 can be purchased as part of this transaction. In the same general vicinity, the owner recently built a storage building
(32' x 40'). In consideration to the medical office building,
it is demised into four medical office related suites and all are currently leased.
The owner reported he made about $260,000 in renovations since he
purchased the property.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
8,216 SF
Building Class
B
Year Built
1992
Price
$2,905,119 CAD
Price Per SF
$353.59 CAD
Cap Rate
7.09%
NOI
$206,081 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
8,216 SF
Building FAR
0.04
Lot Size
5.00 AC
Zoning
GC
Parking
20 Spaces (2.43 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Signage
- Kitchen
- Storage Space
- Fully Carpeted
- Wi-Fi
1 1
PROPERTY TAXES
| Parcel Number | 06-025846 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,436,938 CAD |
PROPERTY TAXES
Parcel Number
06-025846
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,436,938 CAD
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20311 Lappans Rd
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