Property Listing No Longer Available for Sale

Various Locations: George, Illinois, Maryland

Severna Park, MD

Retail for Sale - $17,250,000 - 35,155 Sq. Ft. on 49299.44 acres


Property Info

CIMLS#431570
Location
  Various Locations: George, Illinois, Maryland
  Severna Park MD 21146
UpdatedMarch 26th, 2012
TypeRetail
Price$17,250,000
Building35,155 Sq. Ft.
Land49299.44 acres

Property Description

Marcus & Millichap is pleased to present this unique portfolio offering of net leased investments for

potential acquisition to qualified investors. The offering consists of three properties, all of which are

located in metropolitan areas and collateralized under one attractive, non-recourse loan which must be

assumed. This offering provides the investor with an attractive blend of credit, rent increases and

staggered lease rollovers. The anchor of this portfolio is a tremendously well located Walgreens boasting

an “A+” credit rating by Standard and Poor's and makes up 63.28 percent of the overall income stream.

The balance of the income is from a net leased Verizon Wireless store and Banco Popular (Ground Lease)

which provides a mix of structured increases combined with strong residual that investors will find duly

attractive. At the asking price, an investor's cash on cash return starts at 7.13 percent and is projected to

increase to 8.60 percent prior to the debt’s maturity. Whereas the debt in place is lower leverage, and based

upon a 27 year amortization the purchaser should not have issue refinancing in 2021.


Financials

Marcus & Millichap is pleased to present this unique portfolio offering of net leased investments for potential acquisition to qualified investors. The offering consists of three properties, all of which are located in metropolitan areas and collateralized under one attractive, non-recourse loan which must be assumed. This offering provides the investor with an attractive blend of credit, rent increases and staggered lease rollovers. The anchor of this portfolio is a tremendously well located Walgreens boasting an “A+” credit rating by Standard and Poor's and makes up 63.28 percent of the overall income stream.

The balance of the income is from a net leased Verizon Wireless store and Banco Popular (Ground Lease) which provides a mix of structured increases combined with strong residual that investors will find duly attractive. At the asking price, an investor's cash on cash return starts at 7.13 percent and is projected to increase to 8.60 percent prior to the debt’s maturity. Whereas the debt in place is lower leverage, and based upon a 27 year amortization the purchaser should not have issue refinancing in 2021.

FOR FULL OFFERING MEMORANDUM CONTACT LISTING AGENT