5740 Ritchie Hwy Baltimore, MD 21225-3641

Property Details for 5740 Ritchie Hwy

Year built

2009

Lot size

1.37 lot acres

Property size

14,476 SF

Zone code

C3

Property type

Outlet malls

APN

05-000-15301020

APU

500015301020

Description

This exceptional investment opportunity presents a single-tenant, Class A, Walgreens pharmacy located at 5740 Ritchie Hwy, Brooklyn Park, MD 21225. The property boasts a 14,560 square foot building on a 1.37-acre lot, constructed in 2009. It benefits from a 25-year triple-net (NNN) lease with a corporate guarantee from Walgreens, providing significant financial stability and minimal landlord responsibilities. The lease commenced April 1, 2009, and expires January 31, 2034, leaving a substantial 9.2 years remaining. The property enjoys a 100% occupancy rate and generates a strong net operating income (NOI) of $390,000, resulting in an attractive 7.00% cap rate. This strategically located property is an outparcel to Ritchie Highway Shopping Center and adjacent to a 245-unit multi-family development, ensuring high visibility and strong customer traffic. The site benefits from a prime location at a signalized intersection with nearly 50,000 vehicles per day. Furthermore, the surrounding area demonstrates above-average demographics, with a population exceeding 12,000 within a one-mile radius and average household incomes exceeding $97,000 within the same radius. The property's strong tenant, favorable lease terms, and prime location make it an ideal investment for discerning buyers seeking a stable, high-yielding asset. Lease options are available.

Location Insight

City

Baltimore

County

Anne Arundel

State

Maryland

Longitude

-76.615

Latitude

39.2162

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments