Price: $4,111,111
Cap Rate: 4.50%
Net Operating Income: $185,000
Square Footage: 3,065
Lot Size: 1.5 AC
Year Built: 2019
Market: Washington D.C./Baltimore
This is the opportunity to purchase a 3,065 square-foot absolute NNN ground lease, 7-Eleven in Gambrills, MD (Washington, D.C./Baltimore). The property is brand new construction. The tenant has a 15 year lease with rent increases of 10% every 5 years. The tenant has six, 5 year options to renew with 12.5% increases at each option. The lease is corporately guaranteed by 7-Eleven and calls for zero landlord obligations. The site is strategically located off of Maryland Route 3. The property is also nearby several national retailers including The Target, IHOP, Chick-fil-A, and Dick’s Sporting Goods.
Gambrills refers to two neighboring places in Anne Arundel County, Maryland, in the Baltimore metro area: the unincorporated community of Gambrills, and the Gambrills census-designated place (CDP). The area was named for Augustine Gambrill, plantation owner. The population of the CDP was 2,800 at the 2010 census, up from 1,759 in 2000. Gambrills is served by Route 3, Route 32 and MARC, the Maryland commuter rail service. There is a busy MARC station in the neighboring town of Odenton, with regular rail service to Baltimore and Washington, DC.