Walgreens NNN Lease Investment
For Sale
Contact for pricing
9110 Liberty Rd, Randallstown, MD 21133
Walgreens NNN lease with ±12.9 years remaining in Randallstown, MD.
Property Size14,448 SF
Lot Size2.26 Acres
Price / SF$357.63
Days on Market917
Property Features for 9110 Liberty Rd
General Information
Standard status
Active
Size
14,448 SF
Lot size
2.26 Acres
Property subtype
Retail
Lease Type
NNN
Net Operating Income
$333,270
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
CBRE - Atlanta
Listed By:
Brian Pfohl · License #GA 349355
(404) 504-7893
Source:
Crexi
Added: Apr 3, 2024
Changed: Sep 25
Last Checked: Oct 5 at 4:09PM
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a 14,448-square-foot Walgreens property on 2.26 acres in Randallstown, Maryland, part of the Baltimore-Columbia-Towson, MD MSA with a population exceeding 2.87 million. The property is subject to a NNN lease that commenced in November 2023, with approximately 12.9 years of the initial term remaining. The lease includes rent increases of 5% every 5 years throughout the base term and each of the twelve 5-year renewal options.
Key Highlights
- NNN lease with approximately 12.9 years of term remaining
- Walgreens is the tenant
- Located in Randallstown, MD, part of the Baltimore‑Columbia‑Towson, MD MSA (Population: 2.87M+)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,241
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,164,820
$4.2M
Cap Rate 7%
$2,974,871
$3.0M
Cap Rate 9%
$2,313,789
$2.3M
Market Conditions
NOI Build-Up for 14,448 SF
Gross rent
$299.9K $20.76/SF
− Vacancy
−$22.3K −$1.54/SF
EGI
$277.7K $19.22/SF
− OpEx
−$69.4K −$4.80/SF
NOI
$208.2K $14.41/SF
Area
Baltimore County, MD
Vacancy
7.43%
Lease Rate
$20.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,164,820
Cap Rate 7%
$2,974,871
Cap Rate 9%
$2,313,789
Alternative Uses
Best Use
Specialty Retail
$2.97M
$2.60M – $3.47M
NOI $208,241 @ 7.0% cap · market cap 4.03%
Second Best
Retail
$2.92M
$2.56M – $3.41M
NOI $204,495 @ 7.0% cap · market cap 3.96%
Theoretical Best
Multifamily LT 5
$140.17M
$122.65M – $163.54M
NOI $9,812,182 @ 7.0% cap · market cap 189.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
75k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Dining 6%
Royal Farms
Shops & Services
31,836 visits/mo
0.1 miles
Family Dollar
Shops & Services
10,158 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,968 visits/mo
0.1 miles
Bank of America
Shops & Services
6,976 visits/mo
0.1 miles
AutoZone
Shops & Services
6,819 visits/mo
0.1 miles
Demographics for 21133, MD
30,527
Population
12,785
Households
2.4
Avg Household Size
42
Median Age
35%
College-Educated
90%
High-School Grad
9.0 sq mi
ZIP Area
3,392
Density / Sq Mi
$84,248
Median Household Income
$46,899
Median Earnings
$1,518
Median Rent
$302,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- The Purple Flip — 9036 Liberty Rd, Randallstown, MD 21133
- NBXSolutions — 3426 Carriage Hill Cir apt 102, Randallstown, MD 21133
- Walgreens Pharmacy — 9110 Liberty Rd, Randallstown, MD 21133
- Freddy Banks — 9110 Liberty Rd, Randallstown, MD 211333522
- Heather Klenk — 9110 Liberty Rd, Randallstown, MD 211333522
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens NNN lease with ±12.9 years remaining in Randallstown, MD.
Where is this drug store located?
The property is located at 9110 Liberty Rd Randallstown, MD.
What is the asking price?
The asking price for this property is $5,166,977.
What are key features of this property?
This property features: NNN lease with approximately 12.9 years of term remaining; Walgreens is the tenant; Located in Randallstown, MD, part of the Baltimore‑Columbia‑Towson, MD MSA (Population: 2.87M+)
