9110 Liberty Rd Randallstown, MD 21133
- Retail space
- 14,378 SF
- 2.26 lot acres
Current Use by Public Records
- Retail space
Property Details for 9110 Liberty Rd
- Year built
- 2001
- Construction
- BRICK
- Lot size
- 2.26 lot acres
- Property size
- 14,378 SF
- Property type
- Retail space
- APN
- 02-2300011587
- APU
- 22300011587
Description
This exceptional investment opportunity presents a 14,448-square-foot Walgreens pharmacy in Randallstown, Maryland, boasting a strong 6.20% cap rate and a substantial net operating income (NOI) of $333,270. The property, built in 2001 and situated on a 2.26-acre lot, benefits from a long-term NNN lease with Walgreens expiring November 30, 2038, providing approximately 14 years of remaining lease term. The lease includes twelve 5-year renewal options with a 5% rent increase every five years and in each option period. This strategically located property enjoys excellent visibility and accessibility along Liberty Road (22,173 vehicles per day), near the intersection with Offutt Road (7,674 VPD), and approximately 3.3 miles from Interstate 695 (199,882 VPD). Its proximity to other major retailers, including 7-Eleven, Advance Auto Parts, and the Randallstown Plaza Shopping Center, further enhances its appeal. The property's location within Randallstown's primary retail and commercial corridor, surrounded by a significant student population and close to Northwest Hospital, contributes to its strong tenant base and consistent cash flow. The property is part of the Baltimore-Columbia-Towson, MD MSA, a large metropolitan area with a diverse economy and strong employment base. This presents a compelling investment opportunity with significant long-term potential. The asking price is $5,375,323, translating to a price per square foot of $372.05.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,905,000
- ML approach
- $4,900,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,390,000
- 6.5%
- $3,130,000
- 7%
- $2,905,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,855,000
Market price range: $1.59M - $4.65M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,065,000 Current use
- AUTO REPAIR, GARAGE
- $6,475,000 Change: +111% Conversion: Difficult
- RESTAURANT
- $5,690,000 Change: +86% Conversion: Easy
- COMMERCIAL (GENERAL)
- $4,780,000 Change: +56% Conversion: Easy
- WAREHOUSE, STORAGE
- $3,715,000 Change: +21% Conversion: Difficult
- OFFICE BUILDING
- $3,410,000 Change: +11% Conversion: Easy
- MEDICAL BUILDING
- $3,270,000 Change: +7% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Randallstown
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.7999
- Latitude
- 39.3701
- CBSA code
- 12580
- CBSA name
- BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA
