Property Details

Office Depot

Annapolis, MD
Property ID: 12672

Financial Summary

Asking Price $8,240,000
Cap Rate 7.20%
Net Operating Income (NOI) $593,222
Lease Type NN
Lease Term Remaining 10+ Years
Increases 10% Every 5 Years in Options

Offering Memorandum

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Contact

Jonathan W. Hipp
Capital Markets Head of U.S. Net Lease Group
202.644.8700

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Highlights

  • Recent 10-year lease renewal; new building renovation in 2011 for Office Depot relocation
  • Annapolis Town Center - Whole Foods and Target anchored located caddy corner from Office Depot with 40,275 VPD
  • Office Depot revenues of $11 billion in 2018
  • Population counts of over 110,000 within 5 miles
  • One of the busiest intersections in Annapolis – Solomons Island Road & Forest Drive; heavily traveled dominant retail location with 40,275 VPD
  • Irreplaceable real estate in high barrier to entry market

Location

2401 Solomons Island Rd
Annapolis, MD

Leigh ClineOffice Depot