2 Ashton Rd - Convenience Store FOR SALE


Ashton, MD 20861
$4,600,000 USD
443-632-2044
2 Ashton Rd, Ashton, MD for Sale
$4,600,000 USD
Convenience Store - FOR SALE
1/4
null | 5% Cap Rate

2 Ashton Rd
Ashton, MD 20861


OVERVIEW

KLNB Retail Capital Markets is pleased to present the exclusive opportunity to purchase a CVS ground lease located at 2 Ashton Road in Ashton, Maryland (Montgomery County). CVS was constructed in this high barrier to entry market in 2016 and signed a long-term Absolute NNN Ground Lease for 25 years. CVS has over 16 years remaining on their base term and four, five-year options with 10% rental increases in each. This CVS offers an investor the opportunity to acquire generational real estate situated within an affluent submarket. The property is well located at the signalized intersection of New Hampshire Avenue and Ashton Road, two of the submarkets primary commuter roads. CVS has clear access and visibility at the intersection with multiple points of ingress and egress along the two roads. This CVS has high residual value in that the overall site sits on 1.53 acres in an extremely high barrier to entry market. This CVS is the only national pharmacy within a three-mile radius, and 1 of 3 within a five-mile radius, allowing it to directly service the needs of the surrounding residential communities. There are over 96,000 residents within a five-mile radius and exceptionally high average household incomes of over $200,000, with continued projected population growth through 2029.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$359 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.53 AC

LAND SF

66,647 SF

ZONING

C2

APN/PARCEL ID

08-03767233

ASK ABOUT THIS PROPERTY

443-632-2044

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443-632-2044

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