ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

AAA – Gambrills, MD – Ground Lease

898 MD State Route 3
Sold

SALE PRICE: $2,650,000
CAP RATE: 5.66%

PROPERTY HIGHLIGHTS:

  • PRIME RETAIL LOCATION — Brand new 2016 construction located across from the newly developed Waugh Chapel Towne Centre & The Village at Waugh Chapel, both offering a mix of shops, services, residential & entertainment, as well as an IMAX theater. Anchor stores include Target, Wegmans, Dick’s Sporting Goods, Safeway, Marshalls, ULTA, & HomeGoods.
  • STRONG VISIBILITY — Corner location at the signalized intersection of MD State Route 3 & Waugh Chapel Road (combined 89K+ cars ADT). Entry to the property is available from both streets.
  • QUALITY INVESTMENT — Zero landlord responsibilities and 10% rent increases every 5 years during base & options.
  • NATIONAL TENANT — AAA has 55M+ members represented by 57 local clubs throughout the U.S. & Canada.
  • LARGE TRADE AREA — Over 88,800 people, with an average household income of $124K+, within 5 miles of the property. Gambrills is a suburb of Annapolis, the state capital, and is included in the Baltimore-Columbia-Towson MSA (2.7M+ people) & the Washington-Baltimore-Arlington CSA (6M+ people).
  • There are no features available

$2,650,000

7,957 SF

Price:

$2,650,000

Cap Rate:

5.66%

Building Size:

7,957 SF

SF Land Area:

1.33 acres

Current NOI:

$150,000

Lease Type:

Ground

Remaining Term:

Ten (10) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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