1000 Key Pky
Frederick, MD 21702
Walgreens - Just Extended! · Retail Property For Sale

-Rare Bond Lease, More Favorable than Standard Absolute Net Lease,Originally Created for Zero Cash Flow Bond Financing. Rent is Paid If Destruction of Premises, Assignment or Subletting and Condemnation Proceeds go to owner. -20+ Year History at this Location with Strong Long-Term Customer Base and Loyalty. Tenant has Been Operating at Site Since June 1, 1998. Location was Formerly a Rite Aid. -Located 2.3 Miles from Fort Detrick,the Largest Employer in Frederick County with 8,000 Employees. For Further Detail, Please See “Economic Drivers” -Strong 1-Mile Consumer Base with 20+ Multifamily Buildings Containing 1,755+ Units. Average 5 Year Occupancy is 94.9% for the Aforementioned Units, with Current Vacancy Less than 4% and Rent Growth of 7.3% -Located Directly Off of Frederick’s Famous Golden Mile (Route 40 West), which Houses Dozens of Local Shops, Restaurants, and Other Businesses that Fuels Frederick’s Economy and Community -5% Rental Increases Every Five Years in Remaining Option Periods -Community is Continuously Improving Infrastructure, with a New Shuttle Service that Begins Across the Street at the Baughman’s Professional Center and Looping Between Aldi and Boscov’s on West Patrick Street also known as the Golden Mile. More Information in “Infrastructure’