16481 Excalibur RdBowie, MD 20716
- Retail properties
- 4,077 SF
Property Details for 16481 Excalibur Rd
- Year built
- 2008
- Lot size
- 1.02 AC
- Property size (Sq ft)
- 4,077 SF
- Zone code
- CGO
- Property type
- Retail properties
- Property subtype
- Banks
- APN
- 07-2871408
- APU
- 72871408
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $968,644
- 6.5%
- $894,133
- 7%
- $830,267
-
Comparable approach
- Method
- Valuation
- Relative Method
- $600,169
- Geo Method
- $646,340
-
Alternative Use
- Use
- Valuation
- Residential
- $754,235
- Hospitality
- $690,875
- Educational
- $574,800
- Medical
- $594,568
- Retail
- $894,133
Location Insight
- City
- Bowie
- County
- Prince George's
- State
- Maryland
- Latitude
- 38.9349
- Longitude
- -76.7186
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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