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4520 Mitchellville Rd
Bowie, MD 20716
Burlington Coat Factory | Brand New NN Lease! · Retail Property For Sale
PROPERTY FACTS
ABOUT 4520 MITCHELLVILLE RD , BOWIE, MD 20716
Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Burlington Coat Factory located in Bowie, Maryland, an affluent, rapidly growing Washington, D.C. suburb. The Tenant, Burlington Coat Factory Warehouse Corporation, is subject to a brand new 10-year NN lease to commence October 1, 2018. The Tenant’s rental rate is currently at market at $12-per-square-foot and $0.50-per-square-foot increases every five years during the base term and four, five-year option periods. This is a second-generation box as the property was formerly a Sports Authority location. The lease is corporately guaranteed by the national off-price department store retailer which boasts 647 stores in 45 states and Puerto Rico. Burlington is rated “Ba1” by Moody’s (slightly under investment grade) and publicly traded (NYSE:BURL). As of 2017, Burlington reported a total revenue of $6.11 billion and net income of $384 million. A 8.5% increase over prior year.
PROPERTY TAXES
| Parcel Number | 07-2976843 | Improvements Assessment | $2,864,700 |
| Land Assessment | $4,552,000 | Total Assessment | $7,416,700 |
PROPERTY TAXES
