Value Add

Magothy Medical Professional Center

Pasadena, MD


OVERVIEW

Location:

18 Magothy Beach Road

Year Built/Renovated:

2016

Total Leasable Area:

10,000 SF

Land Size:

0.5507 AC

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Deal Highlights

  • Acquired in 2020

    Acquired in 2020

  • Class B medical office / retail

    Class B medical office / retail

  • Partnership with PeoplesBank and Rosso Commercial

    Partnership with PeoplesBank and Rosso Commercial

Description

An existing 10,000 SF medical office building was purchased at 58% occupancy anchored by Annapolis OBGYN and Annapolis Rheumatology. A lease-up strategy is in place to stabilize the building at a 9.5% stabilized cap rate.