9891 Rhode Island AveCollege Park, MD 20740

Property Details for 9891 Rhode Island Ave

Year built

1964

Construction

BRICK

Lot size

0.57 AC

Property size (Sq ft)

1,734 SF

Zone code

CGO

Property type

Retail properties

Property subtype

Gas stations

APN

21-2321925

APU

212321925

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Citgo gas station, convenience store, and auto shop located at 9891 Rhode Island Ave, College Park, MD 20740. The property boasts a 14.7-year remaining lease term (commencing September 1, 2024, and expiring August 11, 2039) with a highly desirable absolute NNN lease structure, ensuring minimal landlord responsibilities. The current tenant, Citgo, enjoys 100% occupancy and generates a substantial net operating income (NOI) of $228,000, translating to an attractive 7.5% capitalization rate. Built in 1957, the 1,734 square foot property benefits from built-in rent bumps of 2% annually, providing inflation protection. The property's strategic location in College Park, Maryland, enjoys excellent traffic volume (10,000 vehicles per day) and proximity to I-95 (214,000 vehicles per day), ensuring consistent customer flow. The surrounding area's strong demographics (100,000 households and 359,000 residents within a 5-mile radius) further solidify the property's long-term value and resilience. This sale-leaseback transaction offers a passive investment opportunity with significant returns and inherent recession resistance, making it an ideal addition to any diversified portfolio. The asking price is $3,040,000.

• CAP approach

  CAP return

  Valuation

  6%

  $539,782

  6.5%

  $498,260

  7%

  $462,670

• Comparable approach

  Method

  Valuation

  Relative Method

  $331,024

  Geo Method

  $729,780

• Alternative Use

  Use

  Valuation

  Residential

  $420,301

  Hospitality

  $384,994

  Educational

  $320,310

  Medical

  $331,326

  Retail

  $498,260

Location Insight

City

College Park

County

Prince George's

State

Maryland

Latitude

39.0143

Longitude

-76.9201

CBSA code

47900

CBSA name

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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