For Sale
$1,040,000

7010 Westmoreland AveTakoma Park, MD 20912

Historic District Storefront, 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Takoma Park storefront, located in the historic district at 7010 Westmoreland Ave, offers a compelling sale-leaseback opportunity. The 2,800 square foot, three-story building, constructed in 1922 and renovated in 2010, boasts a strong 10-year NNN lease with a 2.5% annual rent increase. The current tenant, operating a successful business since 1972, enjoys 100% occupancy, generating a substantial NOI of $78,000 and a 7.5% cap rate. The property features four parking spaces, solar panels, and is conveniently situated a seven-minute walk from the Takoma Metro Station. The asking price is $1,040,000 ($371.43/sq ft). The property is zoned NR and sits on a 5,364 square foot lot. This fee-simple ownership presents a rare opportunity for investors seeking a stable, income-producing asset in a thriving location. The building is in excellent condition and benefits from its proximity to a diverse range of retail and entertainment options. Showings are by appointment only to avoid disturbing the tenant.

Highlights

  • Sale/Leaseback opportunity available.
  • Long-term tenant in place.
  • Prime downtown Takoma Park location, directly across from diverse retail and entertainment options.

Property Details for 7010 Westmoreland Ave

Property type
Retail properties, Retail space
Square Feet
2,800 SF
Class
B
Year Built/Renovated
1922/2010
Buildings
1
Stories
3

Location Insight

City
Takoma Park
County
Montgomery
State
Maryland
Latitude
38.97440514465
Longitude
-77.011097634342
7010 Westmoreland Ave, Takoma Park, Maryland

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7010 Westmoreland Ave
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