Wells Cove Office Condominium

110 Channel Marker Way Grasonville, MD 21638

110 Channel Marker Way, Grasonville, MD, 21638
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FOR SALE
Property Type:
Single Tenant Office
Amount:
$749,000
Last Verified:
Apr 30, 2024

Highlights

  • Buy at $749,000
  • Fully leased building
  • 2,400 square feet
  • 10 offices with 2 corner suites
  • 2nd floor, elevator served
  • Space is comprised of two condominium units with potential for subdivision
  • Attractive architectural finishes, 11.5' ceiling height, vaulted and dropped ceilings
  • Water views in every direction
  • Private parking lot

Description

We are especially pleased to offer for sale this 100% leased water view office condominium (18% of the total building) located in the heart of the Kent Narrows. The lease is for five years and started on November 1, 2021. There is one tw-year option period. Tenant quality is very good-excellent. Rental increase over the five year term is 27.6%!

Wells Cove is a marina, hotel, residential, retail and office complex that exudes the best of Eastern Shore living. Surrounded by some of the best seafood restaurants on the Bay, and cool waterfront bars, this is the office your employees dream about. A highlight is that Exit 42 on US Route 50, within 1/8th mile of the property, with average daily traffic counts of 73,642, provides direct east and westbound access.

This office condominium is part of the Wells Cove marina and hotel complex located in the southeast quadrant of the Kent Narrows.


Year Built: 2008
Building Size: 2400sq ft
Building Class: A
Lot Size: 0 acres


Documents

Sale Offering Memorandum
Community_Plan.pdf

Map of 110 Channel Marker Way, Grasonville, MD, 21638

Presented by:
SVN | Miller Commercial Real Estate

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Bob Greenlee


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