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Walgreens 6300 Crain Hwy 14,742 SF Retail Building La Plata, MD 20646 $6,717,018 CAD ($455.64 CAD/SF) 6.40% Cap Rate
Investment Highlights
- HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
- POSITIONED IN DENSE RETAIL NODE
- AFFLUENT SURROUNDING DEMOGRAPHICS
Executive Summary
ATTRACTIVE LEASE FUNDAMENTALS
- 5% Rental Increases every 5 Years
- Twelve (12) 5 (5) year extensions
- Abs. NNN Lease, Zero Landlord Responsibilities
- Corporate Lease - Walgreens Co
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 1.1M SF of retail Space with a vacancy rate of 1.8%
- Nearby national retailers include: Target, Safeway, Petco, Walmart Supercenter, Lowe’s Home Improvement, and more
WASHINGTON, DC MSA
- La Plata, MD was one of the fastest growing communities in Maryland last year with an annual growth rate of 4.74%
- The Washington, DC MSA as a whole has increased by 1.4% YOY
- The Washington, DC MSA is the 7th most populous MSA in the United States with over 6.3 Million people
HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
- Site is located at the busy lighted intersection of Crain Hwy (41.3K VPD) and Hawthorne Rd (4,432 VPD) with access off of both roads
- More than 474 residential units under construction near the site
- Per La Plata City, there are over 2,000 residential units set to begin construction surrounding the site with the final plats approved
AFFLUENT SURROUNDING DEMOGRAPHICS
- AHHI exceeds $115K in a 1-mile radius, $28K in 3-mile radius, and $134K in a 5-mile radius
- La Plata is a very densely populated and wealthy community with high discretionary income
- 5% Rental Increases every 5 Years
- Twelve (12) 5 (5) year extensions
- Abs. NNN Lease, Zero Landlord Responsibilities
- Corporate Lease - Walgreens Co
POSITIONED IN DENSE RETAIL NODE
- Within a 1-mile radius of the site is more than 1.1M SF of retail Space with a vacancy rate of 1.8%
- Nearby national retailers include: Target, Safeway, Petco, Walmart Supercenter, Lowe’s Home Improvement, and more
WASHINGTON, DC MSA
- La Plata, MD was one of the fastest growing communities in Maryland last year with an annual growth rate of 4.74%
- The Washington, DC MSA as a whole has increased by 1.4% YOY
- The Washington, DC MSA is the 7th most populous MSA in the United States with over 6.3 Million people
HARD CORNER SITE SURROUNDED BY NEW DEVELOPMENT
- Site is located at the busy lighted intersection of Crain Hwy (41.3K VPD) and Hawthorne Rd (4,432 VPD) with access off of both roads
- More than 474 residential units under construction near the site
- Per La Plata City, there are over 2,000 residential units set to begin construction surrounding the site with the final plats approved
AFFLUENT SURROUNDING DEMOGRAPHICS
- AHHI exceeds $115K in a 1-mile radius, $28K in 3-mile radius, and $134K in a 5-mile radius
- La Plata is a very densely populated and wealthy community with high discretionary income
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,742 SF
Building Class
B
Year Built
2008
Price
$6,717,018 CAD
Price Per SF
$455.64 CAD
Cap Rate
6.40%
NOI
$429,909 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.56 AC
Zoning
CH - Commercial Highway
Parking
71 Spaces (4.82 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- -
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-001396 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,198,147 CAD |
Property Taxes
Parcel Number
01-001396
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,198,147 CAD
Contacts
-
David Hoppe -
Eric Suffoletto -
Danny Griffin -
Ben Olmstead -
Ben McCarter -
Atlantic Capital Partners
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Walgreens | 6300 Crain Hwy
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