496 Ritchie Hwy Severna Park, MD 21146-2911
Property Lookup
Property profile & analytics
496 Ritchie Hwy Severna Park, MD 21146-2911
- Outlet malls
- 14,482 SF
- 1.03 lot acres
Property ID
US40-0475504
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Cardtronics ATM / Atm
- LabCorp at Walgreens / Medical Laboratory / Blood Testing Service
- Walgreens Pharmacy / Pharmacy
- Western Union / Bank / Credit Union
- Coinhub Bitcoin ATM Teller / Atm
Property Details for 496 Ritchie Hwy
- Year built
- 2009
- Lot size
- 1.03 lot acres
- Property size
- 14,482 SF
- Zone code
- C3
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 03-000-90014642
- APU
- 300090014642
Description
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens located at 496 Ritchie Hwy, Suite 1, Severna Park, MD 21146. The 14,784 square foot property, built in 2009, sits on a 1.02-acre lot within a vibrant retail corridor boasting impressive traffic counts of 53,000 vehicles per day on Route 2 (Ritchie Highway). The property benefits from an absolute NNN lease with Walgreens, a highly creditworthy tenant, with a remaining lease term of approximately 4.6 years. The lease commenced on May 8, 2009, and expires July 8, 2029, including 8 five-year renewal options. The current asking price is $10,489,188, representing a price per square foot of $709.50 and an attractive 8.75% cap rate based on a Net Operating Income (NOI) of $917,804. The property enjoys 100% occupancy and benefits from built-in rent bumps. This location is strategically positioned adjacent to a Giant-anchored shopping center, within the Baltimore MSA, and surrounded by exceptionally strong demographics. Within a one-mile radius, the average household income is $215,828, and the three-mile radius encompasses a population of 47,513. The retail market exhibits a low vacancy rate of only 2.1%. This is a rare opportunity to acquire a high-performing, net-leased Walgreens in a prime location with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,740,000
- AI Estimate
- $2,174,000
Market price range: $3.52M - $9.58MMarket price range: $1.13M - $4.47M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $5,305,000
- WAREHOUSE, STORAGE
- $4,830,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Severna Park
- County
- Anne Arundel
- State
- Maryland
- Longitude
- -76.5501
- Latitude
- 39.0812
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$37,678
$0.00
$0.00
$3,450,367
-
$1,033,000
$2,555,400
$3,588,400
