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Walgreens 6300 Crain Hwy 14,742 SF Retail Building La Plata, MD 20646 $4,774,000 ($323.84/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
- POSITIONED IN DENSE RETAIL NODE
- AFFLUENT SURROUNDING DEMOGRAPHICS
EXECUTIVE SUMMARY
- 5% Rental Increases every 5 Years
- Twelve (12) 5 (5) year extensions
- Abs. NNN Lease, Zero Landlord Responsibilities
- Corporate Lease - Walgreens Co
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 1.1M SF of retail Space with a vacancy rate of 1.8%
- Nearby national retailers include: Target, Safeway, Petco, Walmart Supercenter, Lowe’s Home Improvement, and more
WASHINGTON, DC MSA
- La Plata, MD was one of the fastest growing communities in Maryland last year with an annual growth rate of 4.74%
- The Washington, DC MSA as a whole has increased by 1.4% YOY
- The Washington, DC MSA is the 7th most populous MSA in the United States with over 6.3 Million people
HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
- Site is located at the busy lighted intersection of Crain Hwy (41.3K VPD) and Hawthorne Rd (4,432 VPD) with access off of both roads
- More than 474 residential units under construction near the site
- Per La Plata City, there are over 2,000 residential units set to begin construction surrounding the site with the final plats approved
AFFLUENT SURROUNDING DEMOGRAPHICS
- AHHI exceeds $115K in a 1-mile radius, $28K in 3-mile radius, and $134K in a 5-mile radius
- La Plata is a very densely populated and wealthy community with high discretionary income
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
- Triple Net
- -
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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-001396 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,987,367 |
PROPERTY TAXES
CONTACTS
-
David Hoppe -
Eric Suffoletto -
Danny Griffin -
Ben Olmstead -
Ben McCarter -
Atlantic Capital Partners
Presented by
Walgreens | 6300 Crain Hwy
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