10300 Little Patuxent Pkwy Columbia, MD 21044-3341
- Super regional malls
- 454,000 SF
- 62.33 lot acres
Current Use by Public Records
- Chick-fil-A / Family Restaurant / Caterer
- AMC Columbia 14 / Imax Theater / Movie Theater
- SKECHERS Retail / Women'S Clothing Store / Shoe Store
- Carpenter Tan / Tanning Salon
- Yankee Candle / Manufacturer / Home Goods Store
Property Details for 10300 Little Patuxent Pkwy
- Year built
- 1971
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 62.33 lot acres
- Property size
- 454,000 SF
- Zone code
- NT
- Property type
- Super regional malls
- APN
- 15-126248
- APU
- 15126248
Description
This exceptional investment opportunity presents a 170,382 square foot JCPenney store located in the highly desirable Columbia Mall in Howard County, Maryland. The property boasts a strong 16-year remaining lease term (expiring November 30, 2040) with a highly creditworthy tenant, JCPenney. The absolute NNN lease structure ensures zero landlord responsibilities, and features a 2% annual rent increase, providing consistent and growing income. Five, 5-year renewal options further enhance the long-term value of this investment. The property sits on a 2.91-acre lot and is part of a thriving shopping center, benefiting from the mall's over 9 million annual visitors and its "A" grade from Green Street, reflecting exceptional annual sales of $882 per square foot. The location is strategically positioned near major roadways, including Highway 29, and is surrounded by other prominent retailers and restaurants, including Apple, Chick-fil-A, Lululemon, and more. The surrounding area is characterized by high household incomes exceeding $170,000, a growing population (over 20% growth within a 1-mile radius since 2010), and low retail vacancy rates (4.4%). The lease is guaranteed by several restructured JCPenney corporate entities, maintaining a substantial net worth and liquidity. This property offers a compelling combination of strong tenant creditworthiness, a long-term lease, and a prime location in a high-performing retail market, making it an ideal investment for those seeking passive income and long-term growth. The property was built in 1971 and benefits from the mall's 2013 renovation and expansion. The mall is also adjacent to a new medical office building and near Johns Hopkins Howard County Medical Center.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $750,000
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Location Insight
- Map
- Local Demand
- City
- Columbia
- County
- Howard
- State
- Maryland
- Longitude
- -76.8614
- Latitude
- 39.2157
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
