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
    The Offering Memorandum for this property is no longer available.

    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