125 E Baltimore St
Baltimore, MD 21202
Office Property For Sale

Marcus & Millichap is pleased to present this 9,255-square foot Rite Aid Pharmacy located in the heart of downtown Baltimore, Maryland. Rite Aid has under four years remaining on a triple-net lease (NNN) lease. Rite Aid, which has been operating at this location since 1998, has one, 10-year renewal option. The lease is corporately guaranteed by Rite Aid Corporation, a publicly traded company (New York Stock Exchange: RAD) that ranks 107 in the Fortune 500. This highly visible Rite Aid is located on East Baltimore Street less than two blocks from the Charles Center Metro Station. The asset sits three blocks from the Inner Harbor and five blocks from The Baltimore Convention Center. Additionally, the daytime employment tops 123,000 within the one-mile radius. The subject property is adjacent to two major mixed-use projects. The first project is One Light Street, a 776,000-square foot new construction mixed-use building that will have nine levels of office space, 10 levels of residential with 274 units, seven levels of above grade parking, two levels of below grade parking, and ground level retail. Building amenities include a fitness center and a rooftop swimming pool with a lounge a Downtown Baltimore is the employment and business heartbeat of the city. There are more than 5,600 businesses based in Downtown represent a diverse range of industries and make up nearly one-third of all businesses located within the city. Employees working in Downtown account for more than a third of total employment in Baltimore City, and nearly 119,000 people come to work in Downtown each day. Downtown Baltimore has seen an increase in residents as new multifamily buildings are added to the market and obsolete office buildings are converted to residential use. Many of these residents are of working age and thus contribute to the economy of Downtown, the city, and the region. Downtown experienced an expansion of the employed resident population at all wage levels, though the median wage for residents making more than $40,000 per year grew most substantially.