9708 Belair Rd 2 Properties Offered at $5,570,000 in Nottingham, MD

The subject property is improved by an existing one story masonry retail building that was constructed in 1974 according to the assessment account. The building is constructed on a concrete slab foundation and features a gross building area of approximately 15,033 square feet. The structure is in good physical condition. The original retail use of the building has been converted to a special purpose use as an adult day care facility. On-site items include macadam and concrete paving and existing landscaping.
The subject property also features a 1.0+/- acre entitled pad site that has approval from Baltimore County for development with a retail/medical/office building. The proposed medical office building is to have 9,120 square feet of gross building area per floor with a maximum height of 3 stories for a total of 27,360.
The present zoning of the subject property is indicated on a map located in the Zoning Department of Baltimore County as Business Local (BL), Density Residential (DR 3.5) and small portion zoned Business Major (BM).
Zoning: BL (Business Local):
Typical Uses Permitted by Right:
Retail sales, personal services, restaurant, bank, office, tavern, food store, medical clinic.
Typical Uses Permitted by Special Exception:
Arcade, car wash, service garage, hotel/motel, funeral establishment, golf course, driving range, animal boarding place Class A, theater, retail business in a structure more than 80,000 square feet meeting certain conditions.
PROPERTY LOCATION: 9708 Belair Road
11th Election District
Baltimore County, Maryland 21236
OWNERS OF RECORD: GSV Acquisition 7, LLC
PROPERTY IDENTIFICATION: Tax Map 63, Grid 21, Parcel 198
LAND AREA: 3.05+/- Acres (132,858 sq.ft.)
IMPROVEMENTS: Existing one story Masonry Commercial Building Utilized as an Adult Daycare Center Containing 15,033 Square Feet of Gross Building Area on 2.05 acres plus an entitled proposed 3 Story Masonry retail/medical/office building.
ZONING DESIGNATION: Primarily Business Local (BL)
Density Residential (DR 3.5)
Business Major (BM)
Legal Description: The property is located on a tax map prepared by the Maryland Department of Assessment and Taxation, identified as Map 63, Grid 21, Parcel 198.
Surrounding Land Uses: All adjacent land uses are limited to commercial uses.
Easements, Covenants and Encroachments: The property is encumbered by typical easements and rights-of-way which do not affect its utility.
Frontage and Visibility: The parcel features frontage on the northwest side of Belair Road. The parcel has adequate visibility.
Access: The property is accessed via two curb cuts from Belair Road. The property features surface parking that can currently accommodate 70 vehicles.
Configuration, Topography & Drainage: The outline of this tract of land is irregular in shape and requires several courses and distances to describe it by metes and bounds. The topography of the land is level in nature and meet at grade with Belair Road. Drainage appears adequate.
Census: The subject property's Census Tract No. is 4114.06
Flood Plain/Wetlands: According to the National Flood Insurance Program of the Federal Emergency Management Agency, the property is located within zone X, area of minimal flooding, which is depicted on Community Panel Number 2400100290G, which was revised on November 2, 2023.
The property is leased to SH Town Square Corporate Company, Inc. in a lease agreement dated August 14, 2018. The triple net rent commencement date of the lease is December 6, 2018. The initial lease term is for a period of 10 years and expires on December 5, 2028. There are three unexercised - 5 year renewal option terms. The lease is net, net, net. The current annual net income for the subject property is $388,262.52 subject to base rent escalations.
Real Estate Taxes: The annual real estate taxes are paid entirely by the tenant per the net, net, net lease agreement.
Utilities (Water & Sewer):The annual expense for water and sewer charges for the property is paid entirely by the tenant per the net, net, net lease agreement.
Utilities (Gas & Electric):The utilities of natural gas and electricity are separately metered and are the direct responsibility of the tenant per the net, net, net lease agreement.
Property Insurance: The annual expense of the property insurance premium is the responsibility of the tenant per the net, net, net lease agreement.
Common Area Maintenance: The annual expense for snow removal and landscaping is the responsibility of the tenant per the net,net,net lease agreement.