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2430 Chillum Road, Hyattsville, MD 20782
$800,000
2430 Chillum Road, Hyattsville, MD 20782View this property at 2430 Chillum Road, Hyattsville, MD 20782
2430 Chillum RoadHyattsvilleMD20782
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Property Description
Mustangs, a bar, food and adult entertainment business established in 1980, is now available for sale due to owner retirement. What makes this opportunity unique is it's one of only two adult entertainment businesses-with a liquor license-allowed in the county. The business is being sold with the real estate, which has significant underlying land value due to its proximity to the West Hyattsville Metro. The business has consistently generated strong net income for current long-time owners. Mustangs closed during the height of the pandemic for 15 months but recently re-opened and is now getting back to pre-pandemic income levels. Mustangs is run by a manager and a small staff, with only minor oversight required by ownership. Security cameras are in place to monitor operations. Current ownership willing to consult with new owner for one month after closing to ensure smooth transition. This is truly a value-add opportunity as a new owner can continue to run business knowing land value will grow over time, providing a future exit strategy, if desired.
Full Property Details
Full Property Details for 2430 Chillum Rd
General
- Sold For: $800,000
- Taxes: $9,683 (2021)
- Status: Closed
- Type: Business
- MLS ID: MDPG2006160
- Added to Site: 995 day(s) ago
Business
- Name: Mustangs
- Business Type: Restaurant/Bar
- Year Established: 1980
Parking
- Total Spaces: 34
- Parking Type: Parking Lot
Location
- County: Prince Georges
- Driving Directions: From I-495 E take MD-650 S/New Hampshire Ave. to Ager Rd in Chillum. Slight right onto Ager Rd., continue on MD-500/Queens Chapel Rd. to right on Chillum Rd.
School Information
- School District: Prince George's County Public Schools
Heating & Cooling
- Heating Type: Other
- Heating Fuel: Other
- Water Heater: Other
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Block
- Stories/Levels: 0
- Current Bldg. Use: Bar
- Year Built: 1956
- Year Built Source: Assessor
Unit Information
- # Tenants: Single
Lot Features
- Lot Size (Acres): 0.43
- Lot Size (Sq. Ft.): 18,750
- Lot Size Source: Assessor
- Zoning: CSC
Financial Considerations
- Price Per Sq. Ft.: $567.39
- Assessment Year: 2021
- County Tax: $6,676
- County Tax Freq: Annually
- Tax w/Assessment: $607,800
- Tax Amount: $9,683
- Tax Year: 2021
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Other
Listed by Capital Realty Advisors, Geoffrey G Lindsay
Sold by Non Subscribing Office, Non Member
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Schools
Schools serving 2430 Chillum Rd
School District:Prince George's County Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
1420 Chillum Rd, Hyattsville, MD 20782 | PK-6 | 0.9 mi | |
6001 42nd Ave, Hyattsville, MD 20781 | 7-8 | 1.4 mi | |
7000 Adelphi Rd, Hyattsville, MD 20782 | 9-12 | 1.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2430 Chillum Rd
Date
Details
Price
Change
Source
4/20/2022
Sold
$800,000
-58.87%
MLS
9/17/2021
Price Reduced
$1,945,000
-11.39%
MLS
7/29/2021
Listed
$2,195,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2430 Chillum Road, Hyattsville, MD 20782 (MLS# MDPG2006160) is a Business property that was sold at $800,000 on April 20, 2022. Want to learn more about 2430 Chillum Road? Do you have questions about finding other Business real estate for sale in Hyattsville? You can browse all Hyattsville real estate or contact a Coldwell Banker agent to request more information.