For Sale
$3,850,000

16481 Excalibur RdBowie, MD 20716

High-yield NNN ground lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 3,468 square foot, single-tenant, absolute NNN ground lease property located at 16481 Excalibur Rd, Bowie, MD 20716. The property is currently 100% occupied by PNC Bank, a highly credit-rated tenant with a corporate guarantee, offering significant financial stability. The lease features four 5-year renewal options with a 15% rent increase at each option, extending the potential lease term to approximately 23 years. The property boasts a strong NOI of $258,548 and a 6.72% cap rate. Situated on a 1.02-acre lot with 25 parking spaces, the property benefits from a prime retail corridor location in the Washington D.C. MSA, next to Collington Plaza and surrounded by major retailers. The property enjoys high visibility on Crain Hwy, with over 65,000 vehicles passing daily, and is situated on a hard signalized corner. The surrounding community is affluent, with an average household income exceeding $148,000 within a 5-mile radius. A major development directly across the street is underway, further enhancing the property's value and future potential. Built in 2007, this property offers a secure, high-performing investment with substantial long-term growth potential. The asking price is $3,850,000. The property is part of a ground lease with an expiration date of January 31, 2027, leaving approximately 2.2 years remaining on the initial lease term. The property's location within the Washington D.C. MSA and its strong tenant make this a compelling investment opportunity.

Highlights

  • Investment-grade lease guaranteed by PNC Bank, a top-6 US bank with an A- (S&P) / A2 (Moody's) credit rating.
  • Absolute NNN ground lease; tenant responsible for all property expenses.
  • High-performing PNC branch, top 5 in deposits within Prince George's County, strategically located in the Washington, D.C. MSA.
  • Prime retail location adjacent to Collington Plaza, surrounded by national retailers including Walmart and Giant.
  • Adjacent to a major new development including 77,635 SF of retail, 400+ apartments, 190 townhouses, and a 150-room hotel.
  • Affluent area with average household income exceeding $148,000 within a 5-mile radius.

Property Details for 16481 Excalibur Rd

Property type
Retail properties, Drug stores
Square Feet
3,468 SF
Year Built
2007
Buildings
1
Lot Size (sq. ft)
44,431 SF

Location Insight

City
Bowie
County
Prince George's
State
Maryland
Latitude
38.935219919032
Longitude
-76.718874734842
16481 Excalibur Rd, Bowie, Maryland

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16481 Excalibur Rd
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