31997 Beaver Run DrSalisbury, MD 21804

Property Details for 31997 Beaver Run Dr

Year built

1994

Construction

BRICK

Lot size

2.67 AC

Property size (Sq ft)

1,855 SF

Zone code

M1

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

05-106370

APU

5106370

Description

This exceptional investment opportunity presents a newly constructed 7-Eleven convenience store and gas station in Salisbury, Maryland. Located at 31997 Beaver Run Dr, Salisbury, MD 21804, this property boasts a 15-year absolute NNN lease with four, five-year renewal options, commencing May 1, 2024, and expiring April 30, 2039. The lease includes a substantial 10% rent increase every five years, providing significant long-term growth potential. The 4,505 square foot building sits on a 2.67-acre lot and features eight gas pumps. The property benefits from a 100% occupancy rate and a strong net operating income (NOI) of $428,426, yielding a 5.35% cap rate. The tenant, 7-Eleven, Inc., is investment grade rated A, providing exceptional creditworthiness and security. The property's location enjoys high visibility and traffic, with an average daily traffic count of 30,611 vehicles. This is a turnkey investment with accelerated depreciation benefits, making it an attractive opportunity for discerning investors seeking a stable, high-yielding asset. The asking price is $8,008,000, translating to $1,777.58 per square foot. The property is zoned commercial and was built in 2024. This is a single-tenant, single-story building.

• CAP approach

  CAP return

  Valuation

  6%

  $468,744

  6.5%

  $432,687

  7%

  $401,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $277,313

  Geo Method

  $294,079

• Alternative Use

  Use

  Valuation

  Residential

  $364,987

  Hospitality

  $334,326

  Educational

  $278,156

  Medical

  $287,722

  Retail

  $432,687

Location Insight

City

Salisbury

County

Wicomico

State

Maryland

Latitude

38.3762

Longitude

-75.5033

CBSA code

41540

CBSA name

SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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