Walgreens Drug
For Sale
Contact for pricing
Pending
1000 Key Pkwy, Frederick, MD 21702
Freestanding drug store with a long operating history, signalized-corner access, and a bond lease structure.
Property Size11,239 SF
Days on Market143
Property Features for 1000 Key Pkwy
General Information
Standard status
Pending
Size
11,239 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Listing Agency:
CrownPoint Partners
Listed By:
Shannon Bona · License #BK3629909
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 8:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CrownPoint Partners
Investment Insights
Based on property information with market context.
This 11,239-square-foot Walgreens drug store has operated at the site since June 1, 1998, providing an established retail presence at 1000 Key Pkwy. The property occupies a signalized corner at Key Parkway and Baughmans Lane, with multiple ingress and egress points and visibility from the surrounding commercial corridor. Its smaller store format may support future re-tenanting flexibility compared with larger drug-store footprints.
The lease includes a renewed first five-year option beginning June 1, 2020, with 5% rental increases during the remaining option periods. The agreement is structured as a bond lease, with rent payable in specified casualty, assignment or subletting, and condemnation circumstances. The reported rent-to-sales ratio is 3.0%.
The property is 2.3 miles from Fort Detrick, which employs 8,000 people, and is directly off Route 40 West. Within a one-mile area are more than 20 multifamily buildings totaling 1,755+ units; five-year average occupancy for those units is 94.9%, with current vacancy below 4% and rent growth of 7.3%.
The lease includes a renewed first five-year option beginning June 1, 2020, with 5% rental increases during the remaining option periods. The agreement is structured as a bond lease, with rent payable in specified casualty, assignment or subletting, and condemnation circumstances. The reported rent-to-sales ratio is 3.0%.
The property is 2.3 miles from Fort Detrick, which employs 8,000 people, and is directly off Route 40 West. Within a one-mile area are more than 20 multifamily buildings totaling 1,755+ units; five-year average occupancy for those units is 94.9%, with current vacancy below 4% and rent growth of 7.3%.
Key Highlights
- 11,239 SF Walgreens drug store operating at the site since June 1, 1998
- Bond lease with a renewed first five‑year option beginning June 1, 2020
- 5% rental increases during the remaining option periods
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
378k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 27%
Groceries 16%
Apparel 8%
H Mart
Groceries
49,709 visits/mo
0.5 miles
Wawa
Shops & Services
43,299 visits/mo
0.2 miles
Ollie's Bargain Outlet
Shops & Services
26,896 visits/mo
0.3 miles
Jo-Ann Fabric and Craft
Shops & Services
26,053 visits/mo
0.2 miles
Burger King
Dining
19,497 visits/mo
0.3 miles
Demographics for 21702, MD
46,412
Population
18,677
Households
2.5
Avg Household Size
37
Median Age
40%
College-Educated
89%
High-School Grad
41.7 sq mi
ZIP Area
1,113
Density / Sq Mi
$104,659
Median Household Income
$55,937
Median Earnings
$1,722
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drug store - Freestanding drug store with a long operating history, signalized-corner access, and a bond lease structure.
Where is this drug store located?
The property is located at 1000 Key Pkwy Frederick, MD.
What are key features of this property?
This property features: 11,239 SF Walgreens drug store operating at the site since June 1, 1998; Bond lease with a renewed first five‑year option beginning June 1, 2020; 5% rental increases during the remaining option periods
