1106 W Patrick St - Freestanding FOR SALE


Frederick, MD 21703
$4,188,000 USD
202-286-1542
1106 W Patrick St, Frederick, MD for Sale
$4,188,000 USD
Freestanding - FOR SALE
1/10
null | 4.25% Cap Rate

1106 W Patrick St
Frederick, MD 21703


OVERVIEW

• The tenant has over 15 years remaining on its lease with 6 (5-year) options to extend, demonstrating their commitment to the site • The lease features a 6% rental increase in 2029 and 8% increases at the beginning of each option period, steadily growing NOI and hedging against inflation • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • No landlord responsibilities • Ideal, management-free investment for a passive investor • The property is located right off of US Highway 15, which averages over 103,500 vehicles passing by daily • The site is located within walking distance to Hillcrest Center Shopping Center, a 90,000+ square foot center that features national tenants such as Aldi, Dollar Tree, Planet Fitness, and many more • The property is in the center of a primary retail corridor with other nearby national/credit tenants including Home Depot, Harbor Freight, Petco, Starbucks, McDonald’s, 7-Eleven, Dunkin, and more, further increasing consumer traffic to the site • More than 134,200 residents and 78,300 employees support the trade area • $131,155 average household income

FOR SALE DETAILS

PRICE

$4,188,000 USD

PRICE/SF

$491 USD /SF

CAP RATE

4.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

AutoZone - Frederick, MD

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1989

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,094 SF

ZONING

GC

APN/PARCEL ID

02-111527

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.