6700 Ritchie Hwy - Drug Store FOR SALE


Glen Burnie, MD 21061
$2,465,000 USD
332-345-4222
6700 Ritchie Hwy, Glen Burnie, MD for Sale
$2,465,000 USD
Drug Store - FOR SALE
1/2
null | 9.25% Cap Rate

6700 Ritchie Hwy
Glen Burnie, MD 21061


HIGHLIGHTS

  • Strong NNN Lease | The site is subject to a triple net lease with no landlord responsibilities.
  • 50 Years of Renewal Options | There are 10, 5-year renewal options, providing a secure and long-term source of income.
  • Ground Rent Coverage | Walgreens pays the annual ground rent of $255,000.

OVERVIEW

NNN Pro is pleased to present the exclusive listing for a Walgreens located at 6700 Ritchie Hwy, Glen Burnie, MD 21061. The site consists of roughly 14,490 rentable square feet of building space on an estimated 2.21-acre parcel of land. This Walgreens is subject to a 25-year Triple Net (NNN) lease, which commenced 7/23/2005. The current annual rent is $228,000.

FOR SALE DETAILS

PRICE

$2,465,000 USD

PRICE/SF

$170 USD /SF

CAP RATE

9.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens Leasehold

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.21 AC

LAND SF

96,268 SF

ZONING

C-3

APN/PARCEL ID

05-000-90020999

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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