List price to be opening bid at online only auction. Bidding Begins Friday, April 14th and ends on Wednesday, April 19th @ 1:00 PM. Parking spots on bright listing are approximate. Substantially leased (7 out of 8 units) Mixed Use Building Containing Six Apartment Units and Two Commercial Units in the "Lexington Park" Neighborhood of St. Mary's County. Located approximately 4 blocks from the main gate of Patuxent River Naval Air Station the property enjoys prime frontage on the highly trafficked Great Mills Road. IMPROVEMENTS: The property consists 6 apartment units and 2 commercial units. There is ample parking in the front as well as a private a rear parking lot. The front of the property contains the commercial units and the rear of the property is where the apartment entrances are located. The property contains two commercial units, 2 studio apartments and 4 2-bedroom apartments.
Unit Rent & Description: The property is currently substantially leased (7 out of 8 units). Apartment 2 is vacant and has an estimated market rent of $1,150. Current Gross Monthly Rent: $10,150. Current Gross Scheduled Annual Rent: $121,800. Potential Gross Monthly Rent Based On Full Occupancy $11,300
Potential Gross Annual Rent Based On Full Occupancy $135,600. SITE: Lot size: 19,995 SF +/- SQ FT zoned MXH (Mixed Use High Density). UTILITIES: The property is served by gas, electric, public water and public sewer.