CHARIS REALTY GROUP

305 MOUNTAIN ROAD

FALLSTON, MD 21047

MLS#: MDHR2027876

$600,000

Status: Closed
Listing number: MDHR2027876
Listing provided by: A.J. Billig & Company
Listing agent phone: None
Last update: 2 years ago
On site: 2 years ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1998

Sq.Footage

2,934

REAL ESTATE AUCTION featuring ON SITE and SIMULCAST ONLINE BIDDING!! Online Bidding Opens - Monday, January 29, 2024. Live On Site Auction - Thursday, February 1, 2024 at 12:15 PM. List price is opening bid only. $100,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The property is situated in the Fallston area of Harford County, at the corner of Belair Road and Mountain Road. Daily traffic counts (AADT) are 24,943 along Mountain Road and 30,143 along Belair Road (US-1), according to MDOT online mapping. The immediate area is predominantly retail, including local and national restaurants, a grocery store, automotive and service businesses. The larger surrounding area is mostly suburban with some larger farms mixed-in. Downtown Belair is approximately 3 miles north, and I-95 is approximately 4 miles south. Rent Info: Triple net ground lease to The Fallston Village Center, LLC dated June 25, 2018. The current lease is in the second five-year lease term, running through July 2028, with an annual rent of $66,000 NNN. Operated by Burgers of Baltimore. There are 2 remaining five-year options at increased rentals. The store was operated by Harloe Management from 1996 to 2018. Tenant pays for all maintenance, insurance and annual real estate taxes. Tenant has a right of first refusal for purchase of the property for $900,000 at the end of the lease term.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Other

  • Heating YN

    YES

  • Heating

    Other

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.98

  • Lot Size(square feet)

    42,900

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $600,000

  • Tax Amount

    $15,450

  • Sq. Footage

    2,934

  • Price/SqFt

    $204

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Sewer

    Public Sewer

  • Tax Lot

    3

  • Water Source

    Public

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Location

County

HARFORD

Elementary School

Middle School

High School

Listing Courtesy of Charles N Billig, A.J. Billig & Company

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Agent Summer Burton

Salesperson, Realtor

Summer Burton

Call Summer today to schedule a private showing.

(443) 952-0034

summer@charisrealty.com


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REAL ESTATE AUCTION featuring ON SITE and SIMULCAST ONLINE BIDDING!! Online Bidding Opens - Monday, January 29, 2024. Live On Site Auction - Thursday, February 1, 2024 at 12:15 PM. List price is opening bid only. $100,000 deposit, payable by cashier’s check or wire, will be required of all online bidders prior to the start of the live auction. The property is situated in the Fallston area of Harford County, at the corner of Belair Road and Mountain Road. Daily traffic counts (AADT) are 24,943 along Mountain Road and 30,143 along Belair Road (US-1), according to MDOT online mapping. The immediate area is predominantly retail, including local and national restaurants, a grocery store, automotive and service businesses. The larger surrounding area is mostly suburban with some larger farms mixed-in. Downtown Belair is approximately 3 miles north, and I-95 is approximately 4 miles south. Rent Info: Triple net ground lease to The Fallston Village Center, LLC dated June 25, 2018. The current lease is in the second five-year lease term, running through July 2028, with an annual rent of $66,000 NNN. Operated by Burgers of Baltimore. There are 2 remaining five-year options at increased rentals. The store was operated by Harloe Management from 1996 to 2018. Tenant pays for all maintenance, insurance and annual real estate taxes. Tenant has a right of first refusal for purchase of the property for $900,000 at the end of the lease term.

305 MOUNTAIN ROAD

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Rare B3-zoned commercial redevelopment and investment opportunity in the heart of the Fallston commercial corridor. Situated on +/- 0.55 acres, 1904 W Grove Avenue is currently improved with a well-maintained 4-bedroom, 1-bath single-family residence and a substantial 980 SF detached garage, providing a buyer with immediate utility and potential rental income while holding the property for future commercial redevelopment. The existing residence is in good condition and includes a new electric heat pump, new tankless hot water heater and propane service for the stove and water heater. The property is currently served by private well and septic; however, both public water and public sewer are available to the site and the current owners have simply elected not to connect. The detached garage measures approximately 24' x 40' and features a large 16' wide x 8' high bay door, providing ample room for multiple vehicles, equipment or storage. The property's primary long-term value is its B3 General Business zoning and location within an established commercial area surrounded by automotive, retail, service and other commercial development. B3 is Harford County's most intensive business zoning classification and accommodates a broad range of potential commercial uses, making the site attractive for future redevelopment, expansion or assemblage opportunities. The property benefits from its location immediately off the heavily traveled Bel Air Road corridor, with approximately 28,800 vehicles per day, and strong surrounding demographics including approximately 100,500 residents with an average household income of $136,800 living within five miles. With its +/- 0.55-acre site, highly desirable B3 zoning, existing usable improvements, access to public water and sewer, strong surrounding commercial development and potential for interim rental income, 1904 W Grove Avenue represents a unique opportunity to acquire a strategically located commercial property in the Fallston market with both immediate utility and long-term redevelopment potential at an attractive price point! SITE DETAILS: Asset: B3 Commercial Redevelopment / Investment Property, Current Use: 2,722 SF Single-Family Residence + 980 SF Detached Garage, Residence: 4 Bedrooms / 1 Bathroom, Lot Size: +/- 0.55 Acres, Zoning: B3, Garage Size: +/- 24' W x 40' L, Garage Door: 16' W x 8' H Bay Door, Garage Use: Multiple Vehicles / Equipment / Storage, Water: Private Well – Public Water Available, Sewer: Private Septic – Public Sewer Available, Heat: New Electric Heat Pump, Hot Water: New Tankless Water Heater, Gas: Propane Service for Stove and Water Heater, Current Condition: Residence in Good Condition, Interim Use: Residential / Garage Rental Income Potential, Future Use: Commercial Redevelopment / Investment, Surrounding Uses: Retail, Automotive, Service & Commercial Development, Traffic: 28,800 CPD on Bel Air Road, Demographics: 100K People with Avg Household Income of $136,800 living within 5miles
#MDHR2061008

FALLSTON

1904 W GROVE AVE

None Beds

None Baths

2,722 Sq.Ft.

$515,000

MLS#: MDHR2061008

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