7102 Ritchie HwyGlen Burnie, MD 21061

Property Details for 7102 Ritchie Hwy

Year built

1977

Construction

BRICK

Lot size

1.35 AC

Property size (Sq ft)

4,000 SF

Zone code

C4

Property type

Medical offices

Property subtype

Medical centers

APN

05-326-03486700

APU

532603486700

Description

This exceptional retail investment opportunity presents a newly constructed, 4,100 square foot 7-Eleven convenience store with an integrated Roost fried chicken restaurant, situated on a 1.27-acre lot in Glen Burnie, Maryland. The property boasts a prominent location at 7102 Ritchie Hwy, benefiting from high visibility and traffic counts exceeding 30,000 vehicles daily. The building features durable construction with masonry, block, metal stud, and steel joist framing, topped with a membrane rubber roof. Ample parking is provided with 36 spaces. The property is zoned C4 and includes six MPD gas pumps. This is an absolute NNN lease with a 15-year primary term, commencing January 8, 2023, and including four to five-year options. The lease includes a 10% rent increase every five years, and during option periods. The Net Operating Income (NOI) is $402,000, resulting in a 4.90% cap rate. The asking price is $8,205,000. This investment offers a corporate guarantee with investment-grade credit and the potential for accelerated depreciation. The property's strong demographics and strategic location make it an attractive investment prospect. The Roost restaurant is the only one of its kind in Greater Maryland.

• CAP approach

  CAP return

  Valuation

  6%

  $862,492

  6.5%

  $796,147

  7%

  $739,279

• Comparable approach

  Method

  Valuation

  Relative Method

  $251,640

  Geo Method

  $251,640

• Alternative Use

  Use

  Valuation

  Residential

  $987,222

  Hospitality

  $904,290

  Educational

  $752,359

  Medical

  $778,234

  Retail

  $1,170,336

Location Insight

City

Glen Burnie

County

Anne Arundel

State

Maryland

Latitude

39.1817

Longitude

-76.6145

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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