NNN Lease Property in Beltsville, MD
$3,071,485.00
| Address | 10601 Baltimore Avenue, Beltsville, MD |
|---|---|
| Tenant | Holmes Lounge LLC |
| Lease Term | +14 Years |
| Cap Rate | 7% |
| NOI | $215,004 |
| Rent Increase | Date | 3% per year | 10/1/23 |
Description
NNN Master Lease Property located at 10601 Baltimore Avenue, Beltsville, MD, 20705. Tenant after successfully operating on first floor for 5 years agreed to extend the lease for 15 more years for entire building and expand his business to the second floor. Tenant executed a NNN Master Lease with personal guarantee which has no Land Lord responsibilities.
♦ 14+ Absolute NNN Lease, tenant responsible for Taxes, Insurance, Utilities, Landscaping, Elevator, HVAC repair and maintenance
♦ Dense Retail Corridor, nearby tenants include McDonald’s, 7 Eleven, WAWA, Aldi, Burger King, Arby’s, Shell, NTB, Wendy’s, Taco Bell, Panera Bread, Walgreens, IKEA, Best Buy, Buffalo Wild Wings, Verizon, Starbucks, Chipotle, and many more
♦ Excellent Traffic – Route 1 Baltimore Avenue +41,000 ADT
♦ Tenant operates 2 other locations and financially very strong and per-sonally guarantee the lease.
♦ Tenant expanded to the second floor and signed 15 years new nnn lease and spent $450k in built out and landlord spent $50k on third floor renovation in 2022
♦ 1,342,680 Population and $117 ,407 Income in 5 Miles Radius
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