Listed by SRS Real Estate Partners New York
$7,000,000
Royal Farms
Details
APN 06-0483693 & 06-0542787
Property Type Retail
Sub Type Convenience Store, Gas Station
Square Footage 5,000
Cap Rate 5%
NOI $350,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 06/19/2039
Remaining Term 12.9
Rent Bumps Yes
Lease Options 4 (5-Year)
Price per SqFt $1,400
Broker Co-Op Yes
Class A
Year Built 2019
Buildings 1
Stories 1
Acreage 2.420
Zoning Commercial Miscellaneous (C-M)
Parking Spaces 46 spaces
Parking per 1,000 SqFt 9.20
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 06/20/2019
Ground Lease Yes
Ownership Leased Fee
Retail | 5.00% CAP | 5,000 SqFt
Investment highlights
- Absolute NNN ground lease with 13 years remaining on the base term
- 10% rental increases every five years during the primary term, beginning in 2029 (Year 11 of the lease), and at the start of each option
- Corporate guaranty from Royal Farm with 247 locations across the Mid-Atlantic
- At the signalized, hard corner intersection of Pennsylvania Avenue and Donnell Drive with a combined 82,600 VPD
- Directly off the Capital Beltway (Interstate 495), which averages approximately 195,100 VPD
- Surrounding shopping centers include Penn Mar Shopping Center (3.1M visitors annually ranked in the top 87th percentile on PlacerAi) and Centre at Forestville (3.1M visitors annually ranked in the top 63rd percentile on PlacerAi)
- More than 290,500 residents ($104,765 AHHI) and 74,500 employees support the trade area
- 12-miles from Washington DC, 14-miles from Alexandria, VA
Listing Contacts
Listed by SRS Real Estate Partners New York
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$350,000.00
$29,166.67/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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