Property Details

Royal Farms

Elkridge (Jessup), MD
Property ID: 11392

Financial Summary

Asking Price $4,285,714
Cap Rate 4.90%
Net Operating Income (NOI) $210,000
Lease Type Ground Lease, NNN
Lease Term Remaining 20 Years
Increases 10% Every 5 Years

Offering Memorandum

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Contact

Jonathan W. Hipp
President & CEO
703.787.4725

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Highlights

  • Brand new construction
  • 1,057 new apartment units being developed across the street at Ryan Homes at Howard Square
  • Long 20-year lease term with four, 5-year options to renew
  • 10% increases every 5 years including options
  • Signalized hard corner intersection
  • Frontage along busy US Route 1 (30,000 VPD), adjacent to a new CVS
  • 8 miles from Columbia, MD
  • Rapidly growing affluent population (183,347 people within 5 mile radius)

Location

7136 Montevideo Rd
Elkridge (Jessup), MD

Traci BidingerRoyal Farms