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Walgreens Leasehold 6700 Ritchie Hwy

14,490 SF Retail Building Glen Burnie, MD 21061 £2,001,358 (£138/SF) 9% Net Initial Yield

Investment Highlights

  • Strong NNN Lease | The site is subject to a triple net lease with no landlord responsibilities.
  • Ground Rent Coverage | Walgreens pays the annual ground rent of $255,000.
  • 50 Years of Renewal Options | There are 10, 5-year renewal options, providing a secure and long-term source of income.

Executive Summary

NNN Pro is pleased to present the exclusive listing for a
Walgreens located at 6700 Ritchie Hwy, Glen Burnie, MD 21061.
The site consists of roughly 14,490 rentable square feet of building
space on an estimated 2.21-acre parcel of land. This Walgreens is
subject to a 25-year Triple Net (NNN) lease, which commenced
7/23/2005. The current annual rent is $228,000.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2005
Price
£2,001,358
Price Per SF
£138
Net Initial Yield
9%
NOI
£180,122
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Land Acres
2.21 AC
Zoning
C-3 - General Commercial District
Frontage
99 ft on Ritchie Hwy

Amenities

  • Pylon Sign
  • Drive Thru
  • Car Charging Station
1 of 1
6700 Ritchie Hwy, Glen Burnie, MD - aerial map view
Walk Score ®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

First Watch
Hook & Reel
Starbucks
Giant Food
Mod Pizza
ALDI
Navy Federal Credit Union
Jenny Craig
Chase Bank
Noodles & Company

PROPERTY TAXES

Parcel Number 05-000-90020999 Improvements Assessment £0
Land Assessment £0 Total Assessment £3,011,113

PROPERTY TAXES

Parcel Number
05-000-90020999
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£3,011,113
(332) 345-4222

  • Listing ID: 33151703

  • Date on Market: 12/09/2024

  • Last Updated:

  • Address: 6700 Ritchie Hwy, Glen Burnie, MD 21061

The Retail Property at 6700 Ritchie Hwy, Glen Burnie, MD 21061 is currently available For Sale. Contact NNN Pro Group for more information.

Nearby Listings

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6700 Ritchie Hwy, Glen Burnie, MD for sale Building Photo- Image 1 of 3
6700 Ritchie Hwy - Glen Burnie, MD - Main
6700 Ritchie Hwy, Glen Burnie, MD for sale Aerial- Image 2 of 3
6700 Ritchie Hwy - Glen Burnie, MD - Aerial

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Walgreens Leasehold | 6700 Ritchie Hwy
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Walgreens Leasehold | 6700 Ritchie Hwy

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Armond Aivazyan

(332) 345-7283

(332) 345-7283

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