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21779 Tulagi Pl
Lexington Park, MD 20653
Royal Farms · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- PRIME LOCATION ON SIGNALIZED HARD CORNER AT THE GATEWAY TO PATUXENT RIVER NAVAL AIR STATION
- DESTINATION CORRIDOR IN AFFLUENT AND GROWING SUBMARKET
- NEW CONSTRUCTION, LONG-TERM ABSOLUTE TRIPLE NET (NNN) GROUND LEASE
EXECUTIVE SUMMARY
KLNB Retail Capital Markets is pleased to offer for sale a newly constructed Royal Farms convenience store and gas station located at 21779 Tulagi Place in Lexington Park, Maryland. The store officially opened for business in March of 2025 and is situated at the gateway to the Patuxent River Naval Air Station, a key economic hub with approximately 20,000 employees. This property offers a strategic location at a signalized hard corner with high visibility and traffic flow of 40,000 vehicles per day. With a 20-year absolute triple net ground lease, investors can enjoy a passive investment opportunity with no landlord responsibilities. Rental increases of 10% every five years, starting in year 11, ensure consistent cash flow growth and inflation protection. Operated by Two Farms, Inc., Royal Farms is a well-established regional brand with over 300 locations, providing a trusted and reliable tenant for long-term stability.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
4,659 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2025
Price
$7,258,784 CAD
Price Per SF
$1,558.01 CAD
Cap Rate
5%
NOI
$362,939 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.41 AC
Zoning
DMX
Parking
25 Spaces (5.37 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $109,440 CAD | |
| Land Assessment | $145,874 CAD | Total Assessment | $9,440,515 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$145,874 CAD
Improvements Assessment
$109,440 CAD
Total Assessment
$9,440,515 CAD
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