4410-4412 & 4420 Mitchellville Road

4410-12 & 4420 Mitchellville Rd Bowie, MD 20716

FOR SALE
Property Type:
Power Center
Amount:
$9,710,157
Last Verified:
Aug 18, 2021


Description

Brexton Commercial is pleased to exclusively represent ownership in the sale of 4410-4412 Mitchellville Road and 4420 Mitchellville Road. This rare investment opportunity brings to the market a diversified and 100% occupied 3-tenant mix on long-term leases. The properties are retail condos and are situated on the end-cap of a Target anchored shopping center in Bowie, MD (Washington, DC MSA). The tenants are Big Lots, which recently extended for 10 years, showing their commitment to the location, the eyecare practice (now MyEyeDr) has been at the center since 1998, and Ruby’s Southern Kitchen which is the newest tenant at the property and backfilled the former Pier 1 space. The subject property has prime positioning as the end-cap in a Target-anchored community shopping center. Other co-tenants include Burlington, Haverty’s Furniture, PetSmart and Staples as well as an adjacent Comfort Inn Conference Center.

The property is superbly positioned in the DC Metro area. The building and signage can be seen by passing cars on Rte. 50 as it is located at the junction of the aforementioned highway and Rte. 301. Rte. 50 sees an average of 123,891 cars per weekday and Rte. 301 sees an average of 65,240 cars per weekday. The subject property is located 13.4MI (15 minute) drive from the DC border, 11.5Mi from Annapolis (15 minute) drive, and 27.9 miles from BWI (30 minute drive).

Bowie is the wealthiest municipality in Prince George’s County with an average income of over $150,000 within 5 miles from the subject property. The population density is an impressive 425,576 people within 10 miles of the subject property with Total Specified Consumer Spending of approximately $5.9 billion.

Building Size: 35979sq ft
Lot Size: 0 acres

Map of 4410-12 & 4420 Mitchellville Rd, Bowie, MD, 20716

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.