Investment Offering
Abingdon, MD - Walgreens
3005 Emmorton Road | Abingdon, MD 21009
$5,912,000
Price6.25%
Cap Rate$369,500
NOI13,650
± SF Offering GLADescription
The tenant, Walgreens, Co. is a successful, long-standing pharmacy location as the property has been operating since 2003. Investment grade tenant (S&P: BBB), nationally recognized, and an established pharmacy store with over 9,200+ locations. Tenant pays for CAM, taxes, insurance, and maintains all aspects of the premises. No landlord responsibilities. Long-term ground lease in-place with the same lease expiration as Walgreens. Low ground rent with a ground rent to building ratio of 16.80%.
Location
The subject property is strategically located at the signalized, hard corner intersection of Abingdon Road and Emmorton Road. Emmorton Road is a primary thoroughfare serving Abingdon and the immediate trade area. Less than 2 miles North of Interstate 95, the main North-South Interstate Highway along the East Coast (154,600 VPD). The asset is equipped with a drive-thru, providing ease and convenience for customers. Walgreens benefits from significant street frontage along Abingdon Road and Emmorton with multiple points of access.. More than 125,000 residents and 44,000 employees support the trade area with an average household income of $112,162. Located 29 miles Northeast of Downtown Baltimore, the 30th most populous city in the United States.
Documents & Links
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 Offering Memorandum |  |  |