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18201 Indian Head Highway
Accokeek, MD 20607
Sebrin Adem with RE/MAX Allegiance, original listing - (703) 237-9500
$4,000,000
Conventional
Property
Bedroom
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Bathroom
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Property Type
Conventional
Square ft
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Property Description
Site is 12 miles from beltway; directly across street from Simmons Acres Subdivision. Two contiguous lots for sale Total of 8.4 acres (366,940 square feet +/- of vacant commercial land) Water and electric at site & preparations have been made for sewer. Site has been graded and seeded. Excellent visibility and easy ingress/egress. The subject consists of two commercially-zoned properties totaling approximately 8.42 acres. It is located in the southeasterly corner of Prince Georges County. The zoning is “CGO,” which permits retail and service activities, generally located within a shopping center. The size of any proposed project varies according to the trade area. Property has received approvals previously from the County for construction of a gas station/C-Store(convenience store)/carwash; a 30,000 square foot retail space; and a 34,000 square foot office previous zoning was CSC now it is CGO. CGO Zoning: Provides for a broad and diverse range of retail, business, civic, and mixed-use development at major intersections Incorporates high-density residential development including townhouses, multifamily dwellings, artists’ studios, and live-work dwellings to complement nonresidential development. Minimum lot size • Townhouse • Multifamily and other dwellings • Other uses No requirement 7,500 sq. ft. No requirement Maximum dwelling units per net acre • Townhouse dwellings 20 units • Multifamily and other dwellings 48
Property Information
Lot Size
8 acre(s) square ft
Property Type
Land-Other
Year Built
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MLS Number
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Location
Address
18201 INDIAN HEAD HIGHWAY
City
ACCOKEEK
State
MD
Zip Code
20607
County
PRINCE GEORGE`S (METRO SOUTH)
Listing
Name
Phone
(703) 237-9500
Office Name
Office Phone
(703) 237-9500
Agent Name
Sebrin Adem
Agency Phone
(703) 237-9500

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.