718 Rockville Pike - Freestanding FOR SALE


Rockville, MD 20852- East Rockville
$7,165,000 USD
443-632-2044
718 Rockville Pike, Rockville, MD for Sale
$7,165,000 USD
Freestanding - FOR SALE
1/7
null | 6.5% Cap Rate

718 Rockville Pike
Rockville, MD 20852
East Rockville


HIGHLIGHTS

  • Attractive Tenant Mix Consisting of Four Strong Tenants with Long-Term Occupancy
  • Passive Investment with Limited Expense Exposure to Landlord Offering with Stable and Passive Cash Flow
  • Staggered Lease Expirations with Annual Rent Increases
  • Strong Residual Value in a High Barrier to Entry Submarket
  • Located in a Dense and Growing Submarket
  • Proximity to Major Commuter Arteries, Economic Drivers and Steady Employment Base

OVERVIEW

KLNB Retail Capital Markets is pleased to exclusively present for sale the leasehold interest in Rockville Pike Retail, a 23,357 SF multi-tenant retail property located in Rockville, MD. The fully occupied center features a strong mix of tenants, including Hangry Joe’s, Crust and Crumb, and AAA in a multi-tenant retail strip, as well as a freestanding Patient First urgent care. All tenants are on long-term NNN leases with staggered lease expirations and annual rental escalations, providing investors with a truly passive investment opportunity with full expense reimbursement, predictable income, and a built-in hedge against inflation. The asset sits on a prominent 2.9-acre parcel along Rockville Pike (MD Route 355), the most dominant retail corridor in Montgomery County, which sees more than 48,000 vehicles per day. Located in a strong-demographic, supply constrained submarket within the Washington, D.C. MSA, Rockville Pike Retail presents a rare opportunity to acquire a stabilized, high-performing retail asset with strong in-place income and long-term growth potential.

FOR SALE DETAILS

PRICE

$7,165,000 USD

PRICE/SF

$441 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Rockville Pike Retail

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Restaurant, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.9 AC

LAND SF

126,324 SF

ZONING

MXCD

APN/PARCEL ID

04-03681566

ASK ABOUT THIS PROPERTY

443-632-2044

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443-632-2044

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