9810 Apollo Dr
Largo, MD 20774
Retail Property For Sale

The subject property is a 14,564 square foot Walgreens (formerly a Rite Aid and in process of being rebranded) located in the extremely dense and populous city of Largo, which is part of the Washington DC MSA. Walgreens leases the property on a 20-year NN lease, which commenced in March of 2008, leaving approximately 10 years remaining on the initial lease term. The lease includes 5-year renewal options, with rent increases between each option period. Located about 12 miles east of Washington D.C., the subject property is situated in one of the most dynamic and transformative areas in Price George County. The property is ideally positioned one block from the University of Maryland Medical Center, a 600,000 square foot regional hospital scheduled for completion in March of 2021. Immediately adjacent to the new Medical Center, Retail Properties of America has started planning for the redevelopment of the 50-acre Boulevard at the Capital Center retail complex. Kaiser Permanente operates their largest medical center in the Mid-Atlantic directly north of the property and recently acquired the adjacent parcel to the Walgreens in the summer of 2017. Kaiser plans to expand their medical campus into the adjacent parcel. Walgreens is surrounded by a dense, affluent population, with approximately 239,000 residents within a 5-mile radius and an average household income of $98,046 within a 3-mile radius. Additionally, the property is located between two major retail corridors with combined traffic counts in excess of 58,000 vehicles.