Stevensville, MD - BP Oil

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, Kent Island Depot
(BP Oil) investment property located in Stevensville, Maryland. The tenant has over 17 years remaining on its lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The property was renovated in 2021 and features new fuel pumps, a convenience store, and car wash.

The subject property offers significant street frontage on Romancoke Road (22,900 VPD), with direct on/off ramp access from U.S. Highway 50 (78,200 VPD), a highly trafficked route used by commuters from the Washington, D.C. and Baltimore metropolitan areas. The site receives significant consumer traffic from U.S. Highway 50 in addition to crossover retail exposure from nearby retailers including Target, Safeway, Food Lion, Chick-fil-A, McDonald’s, and Starbucks. Stevensville is a wealthy coastal boating community, making it a popular vacation destination for residents of Washington, D.C., and Baltimore, driving further consumer traffic to the site. Residents within 1 mile of the asset boast an affluent average household income of $157,130. Furthermore, the property is within walking distance of the 4-star Inn at the Chesapeake Bay Beach Club, the Bay Bridge Airport, and Marina, all of which represent primary fixtures in the community. The 5-mile trade area is supported by a population of 18,300 residents and 8,500 employees with an average household income of $148,818.