1918 Bel Air Rd Fallston, MD 21047-2768

Property Details for 1918 Bel Air Rd

Year built

2016

Lot size

0.47 lot acres

Property size

3,600 SF

Zone code

B3

Property type

Strip malls

Property subtype

Neighborhood centers

APN

03-398723

APU

3398723

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving 3,600 square foot restaurant, "The Local," located at 1918 Belair Rd, Fallston, MD 21047. The property boasts a strong 9.70% cap rate and a substantial net operating income (NOI) of $252,000. The restaurant operates under a triple-net (NNN) lease with a remaining term of approximately 9.4 years, expiring March 30, 2034, and includes two five-year renewal options. The lease features attractive 2% annual rental increases throughout the base term and option periods, minimizing landlord responsibilities. Situated on a 0.47-acre lot, the building was constructed in 2016. The property benefits from high visibility and excellent access on Belair Road/Route 1 (30,382 vehicles per day), a major thoroughfare leading into Baltimore. The surrounding area features a dense and affluent demographic, with over 23,500 residents within a 3-mile radius and over 101,900 within 5 miles, boasting average household incomes between $137,675 and $153,143. The tenant, "The Local," is operated by the award-winning Evolved Hospitality Group and Chef Zack Trabbold, recognized for culinary excellence. The property's adjacency to a 24-hour Waffle House provides ample parking, particularly during evening hours. This prime location is surrounded by numerous national retailers, including Dunkin', Royal Farms, Walmart, Chipotle, and several auto dealerships, ensuring high foot traffic and strong consumer demand. The asking price is $2,600,000, translating to a price per square foot of $722.22. This presents a compelling investment opportunity with significant long-term growth potential.

Location Insight

City

Fallston

County

Harford

State

Maryland

Longitude

-76.3896

Latitude

39.4978

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments