5420 Urbana Pike, Frederick, MD 21704
- Drug stores
- 3,798 SF
- 0.70 lot acres
Current Use by Public Records
- Gene's Frederick Florist & Gift Baskets / (Bike/Boat/Book/etc) Store / Florist
Property Details for 5420 Urbana Pike
- Year built
- 2022
- Construction
- BRICK
- Lot size
- 0.70 lot acres
- Zone code
- GC
- Property type
- Drug stores
- APN
- 28-539576
- APU
- 28539576
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 8, 2025 | $5,000,000 | Pgh Properties LLC | Buas Bayside Hotel INC | Deed | — |
| Jan 14, 2009 | $1,050,000 | Buas Bayside Hotel INC | Spirit Master Funding III LLC | Grant Deed | — |
| Jan 17, 2007 | $745,214 | Spirit Master Funding III, LLC | Pizza Hut Of San Diego INC. | Deed | $1.4M · Citibank NA |
| May 27, 1999 | $485,000 | Pizza Hut Of San Diego INC | Npc International INC | Grant Deed | — |
| — | — | Adf Midatlantic LLC | — | Deed Of Trust · related | $500k · Ares Capital Corp |
Description
This exceptional investment opportunity presents a 3,699 square foot, single-tenant, fee-simple Curaleaf dispensary located at 5420 Urbana Pike, Frederick, MD 21704. The property boasts a 15-year net lease (NNN) with 13.8 years remaining, commencing October 1, 2022, and expiring September 30, 2037. The lease includes two 10-year renewal options and features a 3% annual rent increase, providing a hedge against inflation. The property enjoys a prominent location on Urbana Pike, sharing a hard-corner intersection with major national retailers such as Starbucks, Wawa, Chick-fil-A, Home Depot, and Target. Four of the top ten national retailers are within one mile. Curaleaf, a leading national cannabis operator with over 140 stores in 17 states, is the tenant. The property's strong financials include a $5,340,000 asking price, a 6.80% cap rate, and a net operating income (NOI) of $362,943. Built in 2022, this 1-story building sits on a 0.69-acre lot and is zoned GC. The property benefits from the recent legalization of recreational cannabis in Maryland, which has significantly boosted sales in the state. This investment offers a secure, passive income stream with significant long-term growth potential. The corporate guarantee provides additional security for the investor. The property is 100% occupied.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Frederick
- County
- Frederick
- State
- Maryland
- Longitude
- -77.4005
- Latitude
- 39.3812
- CBSA code
- 47900
- CBSA name
- WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA
