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Acqua al 2 - Annapolis MD 18 Church Cir 8,140 SF Retail Building Annapolis, MD 21401 $7,800,000 ($958.23/SF) 6.75% Cap Rate
Investment Highlights
- 11+ Years of Term | Annual Rent Growth, % Rent | Strong Performing Location with Dual Concept Bar & Restaurant
- Strong Demographics in 5-mile Trade Area | Six Figure Income
- Signalized, Hard Corner Intersection | State Rd 50 |Excellent Visibility
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence | United States Naval Academy
Executive Summary
• The tenant currently has 11+ years remaining on their initial lease with
1 (5-year) option to extend, demonstrating their commitment to the site
• The lease features 2% annual rental increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Located in the heart of Historic Annapolis on Church Circle & Main Street adjacent to the State House, along the retail and cultural center of downtown Annapolis. Acqua al 2 offers an authentic Tuscan dining experience, while Harold Black is a hidden speakeasy-style lower-level bar serving craft cocktails and Italian dishes in a cozy, historic bank vault setting.
1 (5-year) option to extend, demonstrating their commitment to the site
• The lease features 2% annual rental increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Located in the heart of Historic Annapolis on Church Circle & Main Street adjacent to the State House, along the retail and cultural center of downtown Annapolis. Acqua al 2 offers an authentic Tuscan dining experience, while Harold Black is a hidden speakeasy-style lower-level bar serving craft cocktails and Italian dishes in a cozy, historic bank vault setting.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,140 SF
Building Class
B
Year Built
2002
Price
$7,800,000
Price Per SF
$958.23
Cap Rate
6.75%
NOI
$526,721
Tenancy
Single
Building Height
2 Stories
Building FAR
2.08
Lot Size
0.09 AC
Zoning
C-2 - Conservation Business
Frontage
80’ on Church Cir
Amenities
- Corner Lot
- Restaurant
- Signalized Intersection
Walk Score®
Walker's Paradise (96)
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-000-00137200 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,332,100 |
Property Taxes
Parcel Number
06-000-00137200
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,332,100
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Acqua al 2 - Annapolis MD | 18 Church Cir
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