Maryland-based investment group acquires three-acre site at 11920 Lime Kiln Road
A Maryland-based investment group has acquired an approximately three-acre site in the Fulton section of Howard County, Maryland for $1.3 million. Dennis Boyle, Senior Vice President and Graham Sevy, Real Estate Advisor with MacKenzie Commercial Real Estate Services, LLC represented the seller, Carl and Sharon Mauck, of the acreage located at 11920 Lime Kiln Road. The sale includes a 2,340 square foot building which is contained on the site.
The acreage, positioned within proximity to the mixed-use community of Maple Lawn and adjacent to Scaggsville Road (MD Route 216) is entitled to support future commercial office or retail development. Nearly 140,000 consumers, including nearly 50,000 households with an average household income approaching $190,000 reside within a five-mile radius of the site. The daytime population, accounting for workers in the immediate area, is nearly 125,000 within a five-mile radius. Approvals are in place to connect public water and sewer service to the site.
“Howard County is regarded as among the wealthiest county in the country as evidenced by area residents which earn more than three times the average household income in the United States,” explained MacKenzie’s Dennis Boyle. “The enormous success of the Maple Lawn development, which is replete with commercial office and medical space, restaurants and other retail, sets the stage for complimentary uses that can leverage the high volume of traffic and brand name awareness of the project.”
According to Boyle, the new owner intends to develop the property but no specific plans have been revealed at this time.
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.
