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6700 Ritchie Hwy 14,490 SF 100% Leased Retail Building Glen Burnie, MD 21061 $2,073,000 ($143.06/SF) 11% Cap Rate
Investment Highlights
- AFFLUENT SUBURBAN MARKET
- ESTABLISHED RESIDENTIAL BASE
- PROXIMITY TO MAJOR UNIVERSITIES
- HIGH-VISIBILITY RETAIL CORRIDOR
- CONVENIENT ACCESS TO BALTIMORE AND I-695
- ROBUST $3 BILLION REDEVELOPMENT PIPELINE
Executive Summary
The Walgreens at 6700 Ritchie Highway, Glen Burnie, MD 21061 presents an exceptional opportunity to acquire a long-term, absolute NNN leasehold with no landlord responsibilities in one of the Baltimore– Washington metro area’s most established retail corridors. The property occupies a prime position along Ritchie Highway (MD-2), benefiting from strong daily traffic, excellent visibility, and direct access to major transportation routes including I-97, I-695, and MD-100.
Located just minutes from BWI Thurgood Marshall Airport, Fort Meade, and the BWI Business District, the site draws consistent consumer traffic from surrounding residential neighborhoods, commuters, and the region’s growing employment base. Backed by Walgreens Co., one of the nation’s largest and most creditworthy pharmacy chains, this location provides stable, predictable income and serves as a recessionresistant asset in a high-demand market.
Located just minutes from BWI Thurgood Marshall Airport, Fort Meade, and the BWI Business District, the site draws consistent consumer traffic from surrounding residential neighborhoods, commuters, and the region’s growing employment base. Backed by Walgreens Co., one of the nation’s largest and most creditworthy pharmacy chains, this location provides stable, predictable income and serves as a recessionresistant asset in a high-demand market.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2005
Price
$2,073,000
Price Per SF
$143.06
Cap Rate
11%
NOI
$228,030
Percent Leased
100%
Building Height
1 Story
Building FAR
0.21
Lot Size
1.59 AC
Zoning
C-3 - General Commercial District
Parking
69 Spaces (4.76 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Car Charging Station
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $15.83
- Triple Net
- Jul 2030
Walgreens is a U.S.-based retail pharmacy operator providing prescription drugs, health services, and consumer goods through neighborhood drugstores and digital platforms. The company was founded in 1901 by Charles Rudolph Walgreen in Chicago, Illinois. Over time, Walgreens expanded nationwide and became one of the largest pharmacy chains in the United States. In 2014, Walgreens became part of the newly formed holding company Walgreens Boots Alliance following the acquisition of Alliance Boots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $15.83 | Triple Net | Jul 2030 |
Walk Score®
Very Walkable (80)
Nearby Major Retailers
Property Taxes
| Parcel Number | 05-000-90020999 | Improvements Assessment | $2,851,800 |
| Land Assessment | $1,022,000 | Total Assessment | $3,873,800 |
Property Taxes
Parcel Number
05-000-90020999
Land Assessment
$1,022,000
Improvements Assessment
$2,851,800
Total Assessment
$3,873,800
Contacts
-
Eric Suffoletto -
David Hoppe -
Danny Griffin -
Ben Olmstead -
Kendra Doherty -
Atlantic Capital Partners
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