MacKenzie Brokers Sale of 8,500 sf Retail/Medical Office Building

Sam’s New and Used Tires acquires 10701 Baltimore Avenue, located in Beltsville, Maryland.

Sam’s New and Used Tires, a locally-owned company based in Prince George’s County, has acquired 10701 Baltimore Avenue, a single-story, 8,500 square foot retail/medical office building situated in Beltsville, Maryland for $2.075 million. Adam Nachlas, SIOR, Senior Vice President Chris Bennett, Executive Vice President and Principal and Allison Perry, Real Estate Advisor for MacKenzie Commercial Real Estate Services represented the seller, ADP Beltsville 12, LLC and the buyer was unrepresented in this transaction. The building was unoccupied at the time of the sale.

Delivered in 1982, the building features a dedicated surface parking lot that can support more than 30 vehicles, a mezzanine area and roadside visibility from Baltimore Avenue (US Route 1). Nearly 320,000 people reside within a five-mile radius of the site, including more than 30,000 households with an average household income approaching $115,000. In addition, more than 40,000 vehicles pass the building on a daily basis via Baltimore Avenue.

Sam’s New and Used Tires offers tire repair and replacement services for passenger cars, truck and other vehicles. The group intends to expand its operations from an existing location on Baltimore Avenue later this year.

“Owning this building provides Sam’s New and Used Tires the opportunity to build equity in an asset, and this project was the perfect size and in the ideal location to provide expansion and additional visibility explained Adam Nachlas of MacKenzie Commercial Real Estate Services. “The group has established an extremely strong niche in the marketplace as a provider of tires and accessories in Prince George’s, and this nearby location allows them to expand their offerings. There remains a limited supply of single-user buildings of this size in the marketplace, and the new owner immediately seized the asset when presented with the opportunity.”

MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies and individuals. For additional information, visit www.mackenziecommercial.com.