1972 West St - Fast Food FOR SALE


Annapolis, MD 21401
$1,645,000 USD
510-379-1233
1972 West St, Annapolis, MD for Sale
$1,645,000 USD
Fast Food - FOR SALE
1/3
null | 6.25% Cap Rate

1972 West St
Annapolis, MD 21401


HIGHLIGHTS

  • Absolute NNN Lease With a Large Restaurant Operator of Over 1,000 Locations Under Four Brands in 32 States.
  • Recently Remodeled in Year 2024 Showing Commitment to This Location.
  • 10% Rent Increase every 5 years Provides Hedge Against Inflation.
  • Vibrant and Populous Infill Location and Home to the U.S. Naval Academy.
  • West Street is One of the Major Arteries in the City of Annapolis With Traffic Counts of Over 34,000 VPD in Year 2017.
  • Affluent Location with Average HHI of $151,000 in 5 Miles.

OVERVIEW

Marcus & Millichap, as the exclusive agent, is pleased to offer for sale the 2,345 sf Arby's situated on a 0.62 acre parcel in the vibrant and historical city of Annapolis, MD. Annapolis is home to the U.S. Naval Academy and is infused with an affluent and dense population. Situated along West Street, one of the main arteries in Annapolis and a direct route to the U.S. Naval Academy, West Street boast a heavy traffic count of 34,000 VPD when last surveyed in year 2017. The vehicular traffic has grown since. Sharing this busy corridor and near the subject property situates large and well known regional and national tenants with the names of Target, The Home Depot, Trader Jose's Aldi just to name a few. Arby's A-NNN lease features over 9 years remaining on the primary term with 10% rent increase every 5 years. The Lease provides for two 5 years options to extend the lease term. Built in year 1983, it was completed remodeled in year 2024, showing commitment to the location. The tenant, KBP Inspired, LLC, is a 117 unit Arby's Operator. Overall, KBP operates over 1,000 restaurants under brands of KFC, Taco Bell, Arby's and Sonic across 32 states and growing. BOR - Brian C. Hosey

FOR SALE DETAILS

PRICE

$1,645,000 USD

PRICE/SF

$701 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,177 SF

ZONING

BCE

APN/PARCEL ID

06-000-02665900

ASK ABOUT THIS PROPERTY

David ChingMarcus & MillichapMore Info
510-379-1233

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David ChingMarcus & MillichapMore Info
510-379-1233

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.