2242 Old Washington RdWaldorf, MD 20601

For Sale
$1,381,000

Medical office building, strong tenant, high ROI.

Overview

Added:
Feb 12
Days on market:
31
This exceptional investment opportunity presents a single-tenant, 3,315 square foot medical office building in Waldorf, Maryland. The property, built in 1978, is currently 100% occupied by Blue River PetCare, a national veterinary service provider with over 181 locations across the U.S. The lease, a triple-net (NNN) agreement, commenced September 15, 2016, and features a remaining term of approximately 1.6 years with two, five-year renewal options. The lease includes a corporate guarantee and boasts strong 3% annual rent bumps. The property enjoys a high occupancy rate and generates a substantial net operating income (NOI) of $135,061, resulting in a compelling 9.78% cap rate. The asking price is $1,381,000, translating to a price per square foot of $416.59. Located at 2242 Old Washington Rd, Waldorf, MD 20601, the clinic benefits from its position near major thoroughfares and numerous national retailers. The property's strong tenant, favorable lease terms, and high NOI make it an attractive investment prospect in a growing market. The building is a single-story structure situated on one lot. The median home value within a five-mile radius exceeds $400,000.

Highlights

  • $1,381,000 asking price for a stabilized, 3,315 SF Class B medical office building in Waldorf, MD.
  • 100% occupied by Blue River Petcare, a national veterinary service provider, under a NNN lease with 1.6 years remaining and two 5-year renewal options.
  • Triple-net (NNN) lease with 3% annual rent increases and a corporate guarantee from Blue River Petcare.
  • $135,061 annual net operating income (NOI) representing a 9.78% cap rate.
  • Located on a major thoroughfare with high traffic counts and surrounded by national retailers.

Property Details for 2242 Old Washington Rd

Property type
Other office properties, Medical offices
Square Feet
3,315 SF
Class
B
Year Built
1978
Buildings
1
Stories
1
Units
1

Location Insight

City
Waldorf
County
Charles
State
Maryland
Latitude
38.6485545
Longitude
-76.8834589
2242 Old Washington Rd, Waldorf, Maryland

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2242 Old Washington Rd
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