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 | |
| Updated | March 26th, 2012 |
| Type | Retail |
| Price | $17,250,000 |
| Building | 35,155 Sq. Ft. |
| Land | 49299.44 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