For Sale
$2,600,000

6904 Harford RdBaltimore, MD 21234

12,123 SF, 7.5% Cap Rate, Two Tenants

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional retail investment property in Baltimore, MD, presents a compelling opportunity. Located at 6904 Harford Rd, this 1.07-acre site features two freestanding buildings totaling 12,123 square feet, currently 100% occupied by two tenants: Dollar Tree and More Than Just Friends Adult Day Center. Dollar Tree, a corporate-guaranteed tenant, occupies 8,053 square feet under a new 10-year lease (signed 2023) with 5-year renewal options and rent increases every 5 years. More Than Just Friends occupies 4,070 square feet and has been a tenant since 2021, with annual rent increases. Both tenants are responsible for their pro-rata share of CAM, taxes, and insurance (NNN lease). Recent capital improvements include new roofs (Dollar Tree's roof has a warranty through 2038), HVAC units for both buildings, and recently resurfaced parking lots. The property boasts excellent visibility on Harford Road (22,690 VPD), with easy access to I-695 (161,000 VPD). Situated in a dense residential area with strong demographics (average household income exceeding $105,000 within a 1-mile radius), the property benefits from its proximity to Parkville Shopping Center. The asking price is $2,600,000, with a current NOI of $194,554, representing a 7.5% cap rate. The property is zoned C1 and legally subdivided, offering flexibility for future owners.

Highlights

  • Two-building retail investment on separate parcels offering diversified income.
  • Dollar Tree (8,053 SF) on a new 10-year lease (2023-2034, 3x5-year options) and More Than Just Friends Adult Day Center (4,070 SF) since 2021.
  • Legally subdivided for flexible ownership and potential cap rate arbitrage.
  • Dollar Tree, a BBB-rated credit tenant, occupies a strategic Harford Road location.
  • Net lease structure with CAM, taxes, and insurance paid by tenants; Dollar Tree has $0.50/SF rent increases every 5 years, More Than Just Friends has 3% annual increases.
  • Separate tax parcels simplify management.

Property Details for 6904 Harford Rd

Property type
Day care centers & nurseries, Retail properties
Square Feet
12,123 SF
Buildings
2
Stories
1
Lot Size (sq. ft)
46,609 SF
Units
2

Location Insight

City
Baltimore
County
Baltimore City
State
Maryland
Latitude
39.36637627197
Longitude
-76.549338618067
6904 Harford Rd, Baltimore, Maryland

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6904 Harford Rd
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