Property Details

Price Rite

District Heights, MD
Property ID: 2052

Financial Summary

Asking Price $5,500,000
Cap Rate 6.69%
Net Operating Income (NOI) $368,010
Lease Type NN
Lease Term Remaining 4 Years

Offering Memorandum

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Contact

Andrew Fallon
Executive Managing Director
703.787.4733

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Highlights

  • Washington, DC MSA; 9 miles from the US Capitol Building & the White House
  • Subdivided parcel within the 250,000 SF Penn Station shopping center
  • Extremely dense retail area, surrounded by national retailers including TGI Fiday’s, Planet Fitness, Burger King, McDonald’s, Exxon, Dunkin’ Donuts, Chick fil A, Wells Fargo, and anchored by Rite Aid, Shoppers Food Warehouse, CVS, Giant Food and Marshall’s
  • Strong demographics with average population count of 20,000 & average hh income of $65,000 within 1 mile
  • Traffic counts of 25,420 VPD
  • Attractive assumable financing at 4.30% interest rate
  • Below market rent, and low cost basis at $112/SF

Location

5800 Silver Hill Road
District Heights, MD

Traci BidingerPrice Rite