Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York
$6,413,000
Kennie's Market (Grocer) - Taneytown, MD
Details
APN 0701027433
Property Type Retail
Sub Type Grocery Store
Square Footage 38,027
Net Rentable (SqFt) 38,027
Cap Rate 8%
NOI $513,053
Tenancy Single
Lease Type NN
Lease Term 20
Lease Expiration 07/31/2031
Remaining Term 5
Rent Bumps Yes
Lease Options 1, 5-Year Option & 1, 4-Year & 11 Months Option
Year Built 2011
Stories 1
Acreage 4.850
Investment Type Net Lease
Ground Lease No
Kennie's Market | Baltimore MSA | 4.29% Rent-to-Sales
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Kennie’s Market at 11 Grand Drive in Taneytown, Maryland (“Property” or “Asset”). The Property is operating on a NN lease with ±5.3 years of primary lease term remaining, 2.00% annual rent escalations and two, five-year renewal options. Kennie’s Market is an employee-owned grocery chain with 5 locations throughout Maryland and Pennsylvania.
MD Broker of Record: Andrew Weir – License #: 616262
Investment highlights
- ±5.3 years of primary lease term on NN lease with limited landlord responsibilities
- Exceptional 4.29% rent-to-sales generating $230K/week
- Large 4.85-acre parcel in suburban Baltimore
- Strong demographics driven by 5-mile AHHI of $121K with 11% rent growth since 2010
- Anchors Taneytown Center, with new Tractor Supply proposed to co-anchor
- Just off E Baltimore St (US 140) with visibility to more than 13,000+ VPD
- Kennie’s Market is an employee-owned grocery store chain with 5 locations throughout MD & PA
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - New York City, New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$513,053.00
$42,754.42/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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