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Rockville Pike Retail 718 Rockville Pike 23,357 SF 100% Leased Retail Building Rockville, MD 20852 $9,880,033 CAD ($423.00 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Tenant Mix Consisting of Four Strong Tenants with Long-Term Occupancy
- Staggered Lease Expirations with Annual Rent Increases
- Located in a Dense and Growing Submarket
- Passive Investment with Limited Expense Exposure to Landlord Offering with Stable and Passive Cash Flow
- Strong Residual Value in a High Barrier to Entry Submarket
- Proximity to Major Commuter Arteries, Economic Drivers and Steady Employment Base
EXECUTIVE SUMMARY
KLNB Retail Capital Markets is pleased to exclusively present for sale the leasehold interest in Rockville Pike Retail, a 23,357 SF multi-tenant retail property located in Rockville, MD. The fully occupied center features a strong mix of tenants, including Hangry Joe’s, Crust and Crumb, and AAA in a multi-tenant retail strip, as well as a freestanding Patient First urgent care. All tenants are on long-term NNN leases with staggered lease expirations and annual rental escalations, providing investors with a truly passive investment opportunity with full expense reimbursement, predictable income, and a built-in hedge against inflation. The asset sits on a prominent 2.9-acre parcel along Rockville Pike (MD Route 355), the most dominant retail corridor in Montgomery County, which sees more than 48,000 vehicles per day. Located in a strong-demographic, supply constrained submarket within the Washington, D.C. MSA, Rockville Pike Retail presents a rare opportunity to acquire a stabilized, high-performing retail asset with strong in-place income and long-term growth potential.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
23,357 SF
Building Class
C
Year Built/Renovated
2012/2025
Price
$9,880,033 CAD
Price Per SF
$423.00 CAD
Cap Rate
6.50%
NOI
$642,202 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
2.90 AC
Opportunity Zone
Yes
Zoning
MXCD - Mixed-Use Corridor District Zone
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 04-03681566 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $11,722,145 CAD |
PROPERTY TAXES
Parcel Number
04-03681566
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$11,722,145 CAD
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Rockville Pike Retail | 718 Rockville Pike
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