5740 Ritchie HwyBaltimore, MD 21225

Property Details for 5740 Ritchie Hwy

Year built

2009

Lot size

1.37 AC

Property size (Sq ft)

14,476 SF

Zone code

C3

Property type

Outlet malls

APN

05-000-15301020

APU

500015301020

Description

This exceptional investment opportunity presents a single-tenant, Class A, Walgreens pharmacy located at 5740 Ritchie Hwy, Brooklyn Park, MD 21225. The property boasts a 14,560 square foot building on a 1.37-acre lot, constructed in 2009. It benefits from a 25-year triple-net (NNN) lease with a corporate guarantee from Walgreens, providing significant financial stability and minimal landlord responsibilities. The lease commenced April 1, 2009, and expires January 31, 2034, leaving a substantial 9.2 years remaining. The property enjoys a 100% occupancy rate and generates a strong net operating income (NOI) of $390,000, resulting in an attractive 7.00% cap rate. This strategically located property is an outparcel to Ritchie Highway Shopping Center and adjacent to a 245-unit multi-family development, ensuring high visibility and strong customer traffic. The site benefits from a prime location at a signalized intersection with nearly 50,000 vehicles per day. Furthermore, the surrounding area demonstrates above-average demographics, with a population exceeding 12,000 within a one-mile radius and average household incomes exceeding $97,000 within the same radius. The property's strong tenant, favorable lease terms, and prime location make it an ideal investment for discerning buyers seeking a stable, high-yielding asset. Lease options are available.

• CAP approach

  CAP return

  Valuation

  6%

  $4,588,399

  6.5%

  $4,235,446

  7%

  $3,932,914

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,294,926

  Geo Method

  $2,294,926

• Alternative Use

  Use

  Valuation

  Residential

  $3,572,757

  Hospitality

  $3,272,626

  Educational

  $2,722,786

  Medical

  $2,816,427

  Retail

  $4,235,446

Location Insight

City

Baltimore

County

Anne Arundel

State

Maryland

Latitude

39.2162

Longitude

-76.615

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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