7953 Crain HwyGlen Burnie, MD 21061

Property Details for 7953 Crain Hwy

Year built

2004

Lot size

1.15 AC

Property size (Sq ft)

14,014 SF

Zone code

C1A

Property type

Outlet malls

APN

03-000-00788810

APU

300000788810

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased Walgreens pharmacy located at 7953 Crain Hwy S, Glen Burnie, MD 21061, within the Baltimore Metropolitan Statistical Area. The property, built in 2004, encompasses 13,650 square feet on a 1.15-acre lot and features a drive-thru. The Class A building is currently 100% occupied under a lease with Walgreens, the second-largest pharmacy chain in the United States, operating approximately 8,700 locations. The lease commenced June 1, 2004, and has a remaining term of approximately 4.8 years, with ten 5-year renewal options. The current lease expiration date is August 31, 2029. The property boasts a strong NOI of $414,999, resulting in an attractive 8.50% cap rate and a price per square foot of $357.68. The asking price for this exceptional net lease investment is $4,882,352. This is a rare opportunity to acquire a high-performing, low-maintenance investment property anchored by a credit-rated tenant in a densely populated and commercially active area. The property's strategic location on heavily trafficked Crain Highway ensures high visibility and accessibility. This investment offers a secure and stable income stream with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $4,441,961

  6.5%

  $4,100,272

  7%

  $3,807,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,221,684

  Geo Method

  $2,221,684

• Alternative Use

  Use

  Valuation

  Residential

  $3,458,732

  Hospitality

  $3,168,180

  Educational

  $2,635,889

  Medical

  $2,726,541

  Retail

  $4,100,272

Location Insight

City

Glen Burnie

County

Anne Arundel

State

Maryland

Latitude

39.133

Longitude

-76.636

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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