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415 Pennington Ave 10,830 SF 33% Leased Office Building Havre De Grace, MD 21078 $1,600,000 ($147.74/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- While the first floor offers the stability of a medical anchor (Dental), the building has been engineered to support the most demanding modern uses.
- The crown jewel for the 'Value-Add' investor is the 3,605 SF Maker Space in the basement.
- The vacant second floor is ideal for a tech or design firm, dedicated 200Amp service and cooling specifically for on-premise cloud or edge compute.
EXECUTIVE SUMMARY
This property is not merely office space—it is a turnkey, high-spec 'Innovation Hub' designed for the future of decentralized manufacturing and cloud computing. While the first floor offers the stability of a medical anchor (Dental), the building has been engineered to support the most demanding modern uses. The vacant 3,610 SF second floor is ideal for a tech-headquarters or design firm, supported by a dedicated 200Amp service and cooling specifically for on-premise cloud or edge computing.
The crown jewel for the 'Value-Add' investor is the 3,605 SF Maker Space in the basement. Featuring a fully epoxy floor and backed by 3-Phase electrical service, this space is custom-built for an industrial 3D Print Farm or Additive Manufacturing center. In an era where local prototyping and small-batch production are surging, this infrastructure allows an owner to capture 'Flex-Industrial' rents that far exceed standard basement storage rates.
With a remarkably low tax basis of $6,719, this asset is a high-margin powerhouse capable of producing a stabilized 8% Cap Rate for the investor who recognizes the value of turnkey tech-infrastructure. Photos coming soon.
The crown jewel for the 'Value-Add' investor is the 3,605 SF Maker Space in the basement. Featuring a fully epoxy floor and backed by 3-Phase electrical service, this space is custom-built for an industrial 3D Print Farm or Additive Manufacturing center. In an era where local prototyping and small-batch production are surging, this infrastructure allows an owner to capture 'Flex-Industrial' rents that far exceed standard basement storage rates.
With a remarkably low tax basis of $6,719, this asset is a high-margin powerhouse capable of producing a stabilized 8% Cap Rate for the investor who recognizes the value of turnkey tech-infrastructure. Photos coming soon.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Lease Option
Property Type
Building Size
10,830 SF
Building Class
C
Year Built
1967
Price
$1,600,000
Price Per SF
$147.74
Cap Rate
8%
NOI
$128,000
Percent Leased
33%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
3,610 SF
Slab To Slab
10’
Building FAR
1.66
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
RB - Commercial - first floor dental office (long term lease), upstairs office / tech space, basement manufacturing / makers space.
Parking
10 Spaces (0.92 Spaces per 1,000 SF Leased)
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 06-027229 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $704,833 |
PROPERTY TAXES
Parcel Number
06-027229
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$704,833
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415 Pennington LLC
415 Pennington Ave
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