3132 Briggs Chaney Rd
Silver Spring, MD 20904
TD Bank | Upwards Trending Deposits · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer for sale this TD Bank NNN Ground lease located in Silver Spring, Maryland, a highly desirable Montgomery County suburb. Montgomery County, Maryland is one of the 18 counties in the greater Washington DC MSA and boasts exceptional demographics. The lease has approximately eight plus years of lease term remaining with an attractive fair market value option structure. The rental increase in 2021 will increase the cap to 6.16%, thus providing a buyer an average cap rate of 5.83% over the base term. TD Bank entered the greater Washington DC marketplace in the early 2000’s opening a number of branches in the region. At this location, the branch deposits have been trending upwards over the past five years, and this location has the fourth highest deposits of 13 surrounding TD Bank locations. TD Bank is rated “AA-” by Standard & Poor’s, or investment grade, and is publicly traded under the ticker ‘TD’. The property is strategically positioned along Briggs Chaney Road one half mile off Route 200 (the Inner County Connector) and one-quarter mile from the Route 29 (Columbia Pike) interchange which makes this site highly accessible from a wide trade radius. The property has prominent frontage along this heavily traveled corridor with average daily traffic counts of 25,810 vehicles, and combined traffic counts at the nearby Route 200 and Route 29 interchange of 58,292 vehicles. The Tenant operates in a 4,100 square-foot branch with four drive-thru bays situated upon approximately an acre corner parcel. This signalized corner parcel has an aligning curb cut with the neighboring Briggs Chaney Marketplace, 204,599 square feet anchored by Ross and Global Foods. This allows for easy access between the two properties. Further, the property is across Briggs Chaney Road from Briggs Chaney Auto Park with more than 10 car dealerships including Mercedes, BMW, Porsche and Audi. Silver Spring is a ring suburb within Montgomery County and borders Washington, D.C. Investors should recognize the strength of this location due to its exceptional demographics, high barriers to entry, and stability provided by the greater Washington D.C. market. Presently, there are 87,173 people within three miles with average household income levels of $107,831.