McDonald’s Absolute NNN
New
For Sale
$3,000,000
9596 Livingston Rd, Fort Washington, MD 20744
Ground-leased restaurant property with a national tenant and no landlord responsibilities.
Property Size4,400 SF
Days on Market2
Property Features for 9596 Livingston Rd
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Retail
Zoning
CGO: Commercial, General and Office Zone
Building Details
Building Size
4,400 SF
Year Built
1976
Tenancy
Single
Listing Agency:
SRS Real Estate Partners - Global Company
Listed By:
Andrew Fallon · License #5002882
(202) 286-1542
Source:
Srsre
Added: Sep 12
Last Checked: Sep 13 at 3:52AM
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 SRS Real Estate Partners - Global Company
Investment Insights
Based on property information with market context.
This offering consists of the land ownership beneath a McDonald’s restaurant at 9596 Livingston Rd in Fort Washington, Maryland. The property is subject to an absolute NNN ground lease, with the tenant responsible for property-level obligations and no landlord responsibilities identified. The restaurant was built in 1976 and is zoned CGO: Commercial, General and Office Zone.
Approximately 16 years remain on the current lease term, followed by 2 five-year extension options. Contractual rent increases of 5% occur every 5 years during the initial term and at the start of each option period. The lease structure provides a defined schedule of increases and a hands-off ownership arrangement.
Approximately 16 years remain on the current lease term, followed by 2 five-year extension options. Contractual rent increases of 5% occur every 5 years during the initial term and at the start of each option period. The lease structure provides a defined schedule of increases and a hands-off ownership arrangement.
Key Highlights
- Absolute NNN ground lease with zero landlord responsibilities
- McDonald’s occupies the restaurant property
- Approximately 16 years remaining on the lease
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
$99,359
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
3.31%
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%
$1,987,180
$2.0M
Cap Rate 7%
$1,419,414
$1.4M
Cap Rate 9%
$1,103,989
$1.1M
Market Conditions
NOI Build-Up for 4,400 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
$149.4K $33.96/SF
− Vacancy
−$16.9K −$3.85/SF
EGI
$132.5K $30.11/SF
− OpEx
−$33.1K −$7.53/SF
NOI
$99.4K $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%
$1,987,180
Cap Rate 7%
$1,419,414
Cap Rate 9%
$1,103,989
Alternative Uses
Best Use
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,359 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
134k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Groceries 41%
Shops & Services 14%
Giant
Groceries
54,688 visits/mo
0.1 miles
McDonald's
Dining
42,059 visits/mo
0.1 miles
7-Eleven
Shops & Services
14,606 visits/mo
0.2 miles
Panera Bread
Dining
12,103 visits/mo
0.1 miles
Jersey Mike's Subs
Dining
4,234 visits/mo
0.1 miles
Demographics for 20744, MD
52,747
Population
21,014
Households
2.5
Avg Household Size
44
Median Age
36%
College-Educated
90%
High-School Grad
26.1 sq mi
ZIP Area
2,021
Density / Sq Mi
$124,838
Median Household Income
$57,168
Median Earnings
$1,751
Median Rent
$418,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Ground-leased restaurant property with a national tenant and no landlord responsibilities.
Where is this nnn property located?
The property is located at 9596 Livingston Rd Fort Washington, MD.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Absolute NNN ground lease with zero landlord responsibilities; McDonald’s occupies the restaurant property; Approximately 16 years remaining on the lease
