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