2242 Old Washington Rd Waldorf, MD 20601-3174

Property Details for 2242 Old Washington Rd

Year built

1978

Construction

WOOD

Lot size

0.46 lot acres

Property size

3,315 SF

Zone code

CC

Property type

Specialty properties

APN

06-085997

APU

6085997

Description

This exceptional investment opportunity presents a single-tenant, 3,315 square foot medical office building in Waldorf, Maryland. The property, built in 1978, is currently 100% occupied by Blue River PetCare, a national veterinary service provider with over 181 locations across the U.S. The lease, a triple-net (NNN) agreement, commenced September 15, 2016, and features a remaining term of approximately 1.6 years with two, five-year renewal options. The lease includes a corporate guarantee and boasts strong 3% annual rent bumps. The property enjoys a high occupancy rate and generates a substantial net operating income (NOI) of $135,061, resulting in a compelling 9.78% cap rate. The asking price is $1,381,000, translating to a price per square foot of $416.59. Located at 2242 Old Washington Rd, Waldorf, MD 20601, the clinic benefits from its position near major thoroughfares and numerous national retailers. The property's strong tenant, favorable lease terms, and high NOI make it an attractive investment prospect in a growing market. The building is a single-story structure situated on one lot. The median home value within a five-mile radius exceeds $400,000.