1950 Pulaski Hwy Edgewood, MD 21040-1617
- Drive through restaurants
- 2,578 SF
- 1.14 lot acres
Current Use by Public Records
- Wendy's / Fast Food Restaurant / Hamburger Restaurant
Property Details for 1950 Pulaski Hwy
- Year built
- 2007
- Lot size
- 1.14 lot acres
- Property size
- 2,578 SF
- Zone code
- B3
- Property type
- Drive through restaurants
- APN
- 01-015885
- APU
- 1015885
Description
This exceptional investment opportunity presents a fee-simple ownership of a Wendy's restaurant located at 1950 Pulaski Highway, Edgewood, Maryland, 21040. The property boasts a 2,578 square foot building on a 1.14-acre lot, constructed in 2007. Currently operating at 100% occupancy, this single-tenant, absolute NNN lease offers a substantial remaining term of 17.2 years, extending to January 31, 2042, with a 5-year renewal option. The lease features attractive 1.25% annual rent bumps, providing a hedge against inflation and a steady increase in net operating income (NOI), currently at $135,043, yielding a 5.50% cap rate on the $2,455,334 asking price. The property benefits from its prime location on Pulaski Highway (US 40), a major commercial corridor with high daily traffic counts exceeding 26,500 vehicles. Its visibility at a signalized intersection is further enhanced by its proximity to numerous national and local retailers, including Walmart, Target, and Lowe's, as well as densely populated residential areas. Convenient access to Interstate 95, MD Route 24, and the Edgewood Train Station adds to its strategic appeal. The tenant, Wend Baltimore North, LLC, a wholly owned subsidiary of Flynn Restaurant Group, one of the world's largest franchise operators, demonstrates a strong commitment to the location, having signed a new 21-year lease in 2021. This property offers a compelling combination of a long-term lease, strong tenant, and excellent location, making it an ideal investment for passive investors seeking a high-return, low-management opportunity. The property is situated within a thriving retail trade area with a substantial population base (over 53,600 within 3 miles, average household income $116,159) and is only a few miles from Aberdeen Proving Ground.
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
- Edgewood
- County
- Harford
- State
- Maryland
- Longitude
- -76.3142
- Latitude
- 39.436
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
