10300 Little Patuxent Pkwy Columbia, MD 21044-3341

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.

Location Insight

City

Columbia

County

Howard

State

Maryland

Longitude

-76.8614

Latitude

39.2157

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments