CVS
$3,282,000
Lexington Park, MD Lease Type
NN
Cap Rate
5.48%
Property Type
Retail
Building Size
10,125 SF
NOI
$180,000
Land Area
1.3 AC
Remaining Term
18.8 Years
Status
Sold
Property Highlights
Prime Investment
The tenant recently extended the base term of this NN lease by 20 years, which includes a corporate guarantee and multiple options to renew. The annual rent increases by 20 percent in the first option period, and increases an additional three percent in each of the remaining options to renew.
Strategic Retail Location
This CVS site sits at a signalized intersection near a growing retail corridor with connections to major highways, including Interstates 95 and 495.
Growing Market
Lexington Park is an affluent area in Maryland with a prominent military presence that provides a $3 billion impact to the local economy annually.
