Ironwood Road Warehouse, Landover, Maryland
Sq. Ft.
$900k
PURCHASE PRICE
In partnership with Peak Companies
Low price per square foot purchase and prudent management led to increase in rents and stability. Net Operating income increased from $110,000 to over $205,000 during ownership. Purchased in 1997 and sold in 2006 to a single buyer. Project Costs: Approximately $900,000
Location
Located in industrial park inside Capital Beltway in Prince George’s County, Maryland.
- Located in industrial park inside Capital Beltway in Prince George’s County, Maryland. Four tenant industrial center built in early 1970’s with over 40,000 square feet on two levels.
- Acquisition funding $650,000. Remainder of $250,000 by individual investors. Project sold in 2006 for approximately $2,750,000.
- All investor equity returned at refinancing in 1998. Sales price produced a profit of approximately $1.7 million, which is a 190% return on costs.