6300 Crain Hwy - Drug Store FOR SALE


La Plata, MD 20646
$4,774,000 USD
980-498-3293
6300 Crain Hwy, La Plata, MD for Sale
$4,774,000 USD
Drug Store - FOR SALE
1/5
null | 6.4% Cap Rate

6300 Crain Hwy
La Plata, MD 20646


HIGHLIGHTS

  • HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
  • AFFLUENT SURROUNDING DEMOGRAPHICS
  • POSITIONED IN DENSE RETAIL NODE

OVERVIEW

ATTRACTIVE LEASE FUNDAMENTALS - 5% Rental Increases every 5 Years - Twelve (12) 5 (5) year extensions - Abs. NNN Lease, Zero Landlord Responsibilities - Corporate Lease - Walgreens Co POSITIONED IN DENSE RETAIL NODE - Within a 1-mile radius of the site is more than 1.1M SF of retail Space with a vacancy rate of 1.8% - Nearby national retailers include: Target, Safeway, Petco, Walmart Supercenter, Lowe’s Home Improvement, and more WASHINGTON, DC MSA - La Plata, MD was one of the fastest growing communities in Maryland last year with an annual growth rate of 4.74% - The Washington, DC MSA as a whole has increased by 1.4% YOY - The Washington, DC MSA is the 7th most populous MSA in the United States with over 6.3 Million people HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT - Site is located at the busy lighted intersection of Crain Hwy (41.3K VPD) and Hawthorne Rd (4,432 VPD) with access off of both roads - More than 474 residential units under construction near the site - Per La Plata City, there are over 2,000 residential units set to begin construction surrounding the site with the final plats approved AFFLUENT SURROUNDING DEMOGRAPHICS - AHHI exceeds $115K in a 1-mile radius, $28K in 3-mile radius, and $134K in a 5-mile radius - La Plata is a very densely populated and wealthy community with high discretionary income

FOR SALE DETAILS

PRICE

$4,774,000 USD

PRICE/SF

$324 USD /SF

CAP RATE

6.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

CH

APN/PARCEL ID

01-001396

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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