Absolute NNN Restaurant
For Sale
Contact for pricing
15207 Major Lansdale Boulevard, Bowie, MD 20716
Fully leased restaurant asset positioned opposite Bowie Town Center.
Property Size5,797 SF
Price / SF$483.01
Days on Market130
Property Features for 15207 Major Lansdale Boulevard
General Information
Standard status
Active
Size
5,797 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Listing Agency:
Segall Group
(410) 336-0138
Listed By:
Jamie Lanham · License #MD 21231
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 1:14AM
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 Segall Group
Investment Insights
Based on property information with market context.
This freestanding restaurant property is subject to an absolute NNN lease and is 100% leased to Hungry Bowl. The operating concept offers Asian fusion dining with Mongolian grill, sushi, and Korean BBQ components.
The property is located at 15207 Major Lansdale Boulevard in Bowie, Maryland, directly opposite Bowie Town Center. The regional shopping center is anchored by Macy's, Safeway, and Barnes & Noble and records more than 5.4 million annual visits. Bowie Town Center ranks as the second most visited lifestyle center in its category, according to Placer.ai, providing a well-established retail setting for the restaurant asset.
The property is located at 15207 Major Lansdale Boulevard in Bowie, Maryland, directly opposite Bowie Town Center. The regional shopping center is anchored by Macy's, Safeway, and Barnes & Noble and records more than 5.4 million annual visits. Bowie Town Center ranks as the second most visited lifestyle center in its category, according to Placer.ai, providing a well-established retail setting for the restaurant asset.
Key Highlights
- Absolute NNN lease structure
- 100% leased to Hungry Bowl
- Freestanding restaurant with Mongolian grill, sushi, and Korean BBQ offerings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,906
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,120
$2.6M
Cap Rate 7%
$1,870,086
$1.9M
Cap Rate 9%
$1,454,511
$1.5M
Market Conditions
NOI Build-Up for 5,797 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$196.9K $33.96/SF
− Vacancy
−$22.3K −$3.85/SF
EGI
$174.5K $30.11/SF
− OpEx
−$43.6K −$7.53/SF
NOI
$130.9K $22.58/SF
Area
Prince George's County, MD
Vacancy
11.34%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,120
Cap Rate 7%
$1,870,086
Cap Rate 9%
$1,454,511
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,906 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 20716, MD
22,874
Population
9,492
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
94%
High-School Grad
11.5 sq mi
ZIP Area
1,989
Density / Sq Mi
$122,683
Median Household Income
$66,987
Median Earnings
$2,140
Median Rent
$405,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully leased restaurant asset positioned opposite Bowie Town Center.
Where is this nnn property located?
The property is located at 15207 Major Lansdale Boulevard Bowie, MD.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Absolute NNN lease structure; 100% leased to Hungry Bowl; Freestanding restaurant with Mongolian grill, sushi, and Korean BBQ offerings
