2311 Hanover Pike - Drug Store FOR SALE


Hampstead, MD 21074
$2,677,041 USD
949-547-2213
2311 Hanover Pike, Hampstead, MD for Sale
$2,677,041 USD
Drug Store - FOR SALE
1/10
null | 9% Cap Rate

2311 Hanover Pike
Hampstead, MD 21074


HIGHLIGHTS

  • Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
  • Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
  • Outparcel to Hampstead Marketplace | Along Primary Commercial Corridor | Lack of Competition
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to present the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Hampstead, Maryland. The property is leased to CVS (NYSE: CVS) under a 25-year absolute NNN lease with approximately eight (8) years remaining and four (4) five-year options to extend, the latter two of which are at fair market rent—underscoring the tenant’s long-term commitment to this location. The absolute NNN structure features zero landlord responsibilities, creating a truly management-free investment that is especially attractive to out-of-state or passive investors. The building is subject to a 24-year ground lease, also with approximately eight (8) years remaining and four (4) five-year options to renew. Importantly, the ground lease has been assigned to CVS, further minimizing ongoing obligations and day-to-day management for the leasehold owner.

FOR SALE DETAILS

PRICE

$2,677,041 USD

PRICE/SF

$206 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

CVS | NYSE: CVS | Abs NNN Leasehold

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

88

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

General Business

APN/PARCEL ID

08-026912

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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