30408 Mt. Vernon Rd Princess Anne, MD 21853
- Retail properties
- 8,400 SF
- 0.81 lot acres
Current Use by Public Records
- Retail properties
Property Details for 30408 Mt. Vernon Rd
- Year built
- 2016
- Lot size
- 0.81 lot acres
- Property size
- 8,400 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a rare chance to acquire a free-standing Family Dollar store in Princess Anne, Maryland. The property boasts an 8,400-square-foot building on a 0.81-acre lot, strategically located at a major intersection on US Hwy 13, with a daily traffic count exceeding 26,000 vehicles. Built in 2016, this property features a 16-year absolute triple net (NNN) lease with six 5-year options, ensuring long-term stability and minimal landlord responsibilities. The current lease has approximately 7.4 years remaining, with a 10% rent increase scheduled for April 1, 2027, and in each subsequent option period. The tenant, Family Dollar (NASDAQ: DLTR), is a credit-rated corporation, providing significant financial security. The property offers a current NOI of $129,133 and a pro-forma NOI of $142,046, resulting in a current cap rate of 6.75% and a pro-forma cap rate of 7.42%. The asking price is $1,913,081, translating to a price per square foot of $227.75. Ample parking is available with 28 spaces. This is a unique opportunity, as it's the only Family Dollar in Princess Anne, with the nearest competitor located over 12 miles away. The property's size and location make it a superior asset compared to a nearby competitor. This investment offers a compelling combination of strong tenant credit, long-term lease security, and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Princess Anne
- County
- Somerset
- State
- Maryland
- Longitude
- -75.697
- Latitude
- 38.2139
