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3106 Solomons Island Rd 14,820 SF Retail Building Edgewater, MD 21037 $2,982,000 ($201.21/SF) 11% Cap Rate

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INVESTMENT HIGHLIGHTS

AFFLUENT SUBURBAN MARKET
ESTABLISHED RESIDENTIAL DEMAND
PROXIMITY TO MAJOR UNIVERSITIES

HIGH-TRAFFIC RETAIL CORRIDOR
EXCELLENT REGIONAL CONNECTIVITY
ESSENTIAL RETAIL OFFERING

EXECUTIVE SUMMARY

Walgreens located in Edgewater, Maryland presents investors the opportunity to acquire a NNN ground lease with one of the nation’s most established pharmacy and healthcare retailers. The property, strategically positioned at the signalized intersection of Solomons Island Road and Mayo Road, benefits from excellent visibility with over 70,000 vehicles per day. Sitting on 1.6 acres, the asset includes a 14,820 SF building built to Walgreens’ prototype specifications and features.
The lease commenced in 2006 and runs through 2031 with ten options every five years beginning after the 25th lease year. The store operates in a dense suburban trade area supported by affluent demographics and major national anchors such as Walmart, ShopRite, Stop & Shop, and Target, ensuring long-term retail stability and strong cross shopping activity.

Edgewater MD - Walgreens OM - compressed

PROPERTY FACTS

Sale Type

Investment

Sale Condition

1031 Exchange

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,820 SF

Building Class

Year Built

2006

Price

$2,982,000

Price Per SF

$201.21

Cap Rate

11%

NOI

$328,020

Tenancy

Single

Building Height

1 Story

Building FAR

0.11

Lot Size

3.18 AC

Zoning

C3 - Commercial

Parking

38 Spaces (2.56 Spaces per 1,000 SF Leased)

Frontage

267’ on Solomons Island Rd

Pylon Sign

Signage

Drive Thru

MAJOR TENANTS

Health Care and Social Assistance
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Labcorp gives everything their all—because everything they do has the potential to change lives. They are a global life sciences and healthcare company harnessing science for human good. Every day, their mission is to improve health and improve lives. They are scientists, medical researchers, doctors and healthcare professionals. They are people first. People looking to science for the answers that will lead to better, healthier lives. For over 50 years, their discoveries and insights have shattered the norm and helped make real, meaningful differences for people around the world.

Accommodation and Food Services
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For more than 60 years, SONIC, America’s Drive-In has built a dominant position in the drive-in restaurant business. SONIC did it by sticking to what made drive-ins so popular in the first place: made-to-order American classics, signature menu items, speedy service from friendly Carhops and heaping helpings of fun and personality. SONIC is part of the Inspire Brands family of restaurants.

Retailer
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Jan 2031

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.