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304 Evans AveGrasonville, MD 21638Price: $1,025,000

  • Price: $1,025,000
  • 145 Days on Market
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Federal 30-year interest rate: 2.87% last updated on Sep 17, 2020
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,025,000List Price
  • 0.38Acreage
  • 1962Year Built

Listing Tools

inchester Liquors has operated on this site for over 40 years.The owner/seller was the second proprietor for fifteen years, the current tenant has been in place for eight years.Loyal beach traffic has long been a strong, sustained source of business. At Exit 44B, Route 50/301 access is provided by an easy right in ~ right out intersection.This is the easternmost highway-oriented liquor store on Kent Island. The local trade area extends to Queenstown, Centreville, and Wye Mills. Closest competitors are 2.6 miles to the west, 9.5 miles to the east, and over 20 miles to the Easton market.Winchester Liquors operates under a Class A, 7-Day, Beer, Wine and Liquor License, and Wine-Tasting License. The Lease uniquely provides that these ~BWL Licenses~ shall always remain with the Property, and no other, without Owner~s consent.Property Value incorporates the inherent value of the BWL Licenses as through a Security Interest, they are inextricably connected to the Property and controlled by the Owner.Absolute Net Lease. Tenant is responsible for all typical triple net expenses, as well as 100% of any repairs to or replacements of all building components.Currently in Initial Term of 10-year lease, ending July 31, 2023, with 10-year Renewal Term extending through July 31, 2033.Renewal is a non-issue. Even if not under control of the current tenant, the liquor license remains with the Property by virtue of the owner~s Security Interest.2-1/2% Rent Increases are scheduled every 30 months, commencing with the 1st day of the 6th year, and continuing through the Renewal Term as well.

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Listed by Robert H Greenlee of SVN |Miller Commercial Real Estate

Copyright 2020 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Connie Loveland | Benson and Mangold participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated September 18, 2020. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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