Entity Owned Property summary
AI-generated overview
This exceptional investment opportunity presents a 14,820-square-foot Walgreens pharmacy located at 3106 Solomons Island Road, Edgewater, Maryland 21037. The property sits on a 3.19-acre lot and is offered at $3,645,000, boasting a 9.00% cap rate. The property features a triple-net (NNN) lease with Walgreens, a highly creditworthy tenant, providing a secure and passive income stream. The lease commenced on April 28, 2006, and has a remaining term of approximately 6.4 years, expiring March 31, 2031. Ten renewal options of five years each are included, extending the lease potential to 2056. The current annual net operating income (NOI) is $328,000. Walgreens' corporate guarantee provides significant security for investors. Built in 2006, this property offers a stable, long-term investment with a strong tenant and a proven track record of success. The 100% occupancy rate further underscores the property's value and potential for continued growth. This is a rare opportunity to acquire a high-performing, net-leased Walgreens property in a desirable location. The property's strong financials and long-term lease make it an attractive investment for those seeking stable, passive income.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2006
Total area
14,748 SF
Lot
3.18 ac (138,521 SF)
Zoning code
C3
APN
01-000-04674600
UPID
US40-0050874
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
(Bike/Boat/Book/etc) Store
-
Pharmacy
-
Medical Laboratory Blood Testing Service
-
Medical Laboratory
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.21M
Comparable Approach
Comparable
$5.31M
Blend (final)
Blend
$4.80M
Owner & transaction history
since 2022
7 recorded transactions
Zoning & alternative use
C3 · Edgewater, MD
Top alternative use upside
Office building
$7.4M
+20.8%
Restaurant
$7.2M
+17.2%
Auto repair, garage
$6.3M
+2.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.80M
Value range
$4.32M – $5.27M
±10% around blend
Estimated value / SF
$325 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$4.32M
blend $4.80M
$5.27M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
14,748 SF
Lot area
3.18 ac
Year built
2006
Stories
1
APN
01-000-04674600
Zoning
C3
Assessed value
$7,323,700
Annual tax
$79,975
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.21M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.48M
@ 6.5% CAP return
$3.21M
@ 7% CAP return
$2.98M
4
Sales comparison
Partial preview
Sales approach indication
$5.31M
Range $914k – $5.31M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.80M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 61 sales
$414
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $325/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+21%
vs current-use indication
Restaurant
Auto Repair, Garage
Industrial (general)
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.32M
Move the market yield to see immediate price impact.
Value / SF
$497
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$461k
$9.23M
$6.59M
$5.13M
$513k
$10.25M
$7.32M
$5.70M
$564k
$11.28M
$8.06M
$6.27M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$79,975
Tax year 2023
Assessed value
$7,323,700
Assessed 2023
Previous assessed
$7,129,967
+2.7% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,966,000
Assessed improvement
$5,357,700
Land market value
$1,966,000
Improvement market value
$5,357,700
Total market value
$7,323,700
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2006
Heating
PACKAGE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Units
3
Total area
14,748 SF
Lot
3.18 ac (138,521 SF)
Zoning code
C3
APN
01-000-04674600
UPID
US40-0050874
Jurisdiction
ANNE ARUNDEL
Zoning & alternative use
C3 · Edgewater, MDZoning C3 · permitted uses
C3 · Edgewater, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
3
Lot
3.18 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C3
Jurisdiction
Edgewater, MD
Recorded code
C3
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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