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2311 Hanover Pike
Hampstead, MD 21074
CVS | NYSE: CVS | Abs NNN Leasehold · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
- Outparcel to Hampstead Marketplace | Along Primary Commercial Corridor | Lack of Competition
- Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to present the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Hampstead, Maryland. The property is leased to CVS (NYSE: CVS) under a 25-year absolute NNN lease with approximately eight (8) years remaining and four (4) five-year options to extend, the latter two of which are at fair market rent—underscoring the tenant’s long-term commitment to this location. The absolute NNN structure features zero landlord responsibilities, creating a truly management-free investment that is especially attractive to out-of-state or passive investors. The building is subject to a 24-year ground lease, also with approximately eight (8) years remaining and four (4) five-year options to renew. Importantly, the ground lease has been assigned to CVS, further minimizing ongoing obligations and day-to-day management for the leasehold owner.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
13,137 SF
Building Class
B
Year Built
2007
Price
$2,677,041
Price Per SF
$203.78
Cap Rate
9%
NOI
$240,934
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.68 AC
Zoning
General Business
Parking
88 Spaces (6.7 Spaces per 1,000 SF Leased)
Frontage
122’ on Hanover Pike
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 08-026912 | Improvements Assessment | $8,371,600 |
| Land Assessment | $1,841,400 | Total Assessment | $10,213,000 |
PROPERTY TAXES
Parcel Number
08-026912
Land Assessment
$1,841,400
Improvements Assessment
$8,371,600
Total Assessment
$10,213,000
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