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7010 Westmoreland Ave 2,800 SF Retail Building Takoma Park, MD 20912 $975,000 ($348.21/SF) 8% Cap Rate
Investment Highlights
- 8.0 CAP Rate
- Located in downtown Takoma Park
- Abundant public parking nearby
- 5-year NNN lease
- 4+ surface parking spaces onsite
- Vibrant area surrounded by complimentary retail uses
Executive Summary
7010 Westmoreland Avenue presents an opportunity to acquire a net-leased retail asset in the heart of downtown Takoma Park. The House of Musical Traditions has been at this location since 2007. The property consists of a two-story commercial building situated on a 5,364-square-foot lot zoned N-R and is offered with a long-term tenant in place. The current tenancy includes a five-year NNN lease with a five-year renewal option, providing investors with contractual income and operational expense pass-through structure.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
2,800 SF
Building Class
B
Year Built
1922
Price
$975,000
Price Per SF
$348.21
Cap Rate
8%
NOI
$78,000
Tenancy
Single
Building Height
2 Stories
Building FAR
0.52
Lot Size
0.12 AC
Zoning
N-R - Neighborhood Retail
Parking
4 Spaces (1.79 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Balcony
- Solar Panels
- Awning
Moderately walkable
60/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-01057901 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $532,800 |
Property Taxes
Parcel Number
13-01057901
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$532,800
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