7680 Arundel Mills Blvd Hanover, MD 21076

Property Details for 7680 Arundel Mills Blvd

Year built

2017

Property size

5,404 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A retail investment opportunity presents a freestanding, two-tenant shopping center in Hanover, Maryland, boasting a prime location at the renowned Arundel Mills mall. The 5,404 square foot property is 100% occupied by Starbucks (with drive-thru) and CAVA, both national corporate tenants providing a strong credit profile and corporate guarantee. The property features Net-Net-Net (NNN) leases with a remaining term of approximately 2.6 years, extending to June 30, 2027, with favorable lease terms including 10% rental increases every five years and four five-year options. The current Net Operating Income (NOI) stands at $395,483, yielding a 5.99% cap rate based on the $6,600,000 asking price, translating to a price per square foot of $1,221.32. Built in 2017, this property benefits from its strategic location within a high-traffic area, easily accessible and highly visible along a major retail corridor. The surrounding area is densely populated and affluent, with an average household income exceeding $126,000 within a one-mile radius. Arundel Mills mall, Maryland's #1 tourist destination, attracts over 24 million annual visitors, further enhancing the property's value and potential. The property's proximity to Baltimore and Washington, D.C., and its convenient location just six miles from Baltimore Washington International Airport, adds to its significant appeal. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a thriving market.

Location Insight

City

Hanover

County

Anne Arundel

State

Maryland

Longitude

-76.7282

Latitude

39.1532