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Walgreens Leasehold

$2,465,000

6700 Ritchie Highway, Glen Burnie, MD 21061

Active
Last Updated: 08/07/2025

9.25

Cap Rate

14,490 sqft

Building Size

Details:
Cap Rate:    9.25%
Building Size:    14,490 sqft
Lot Area:    2.21 acres
Lease Type:    Absolute Net
Year Built:    2005
Price Per Sqft:    $170
Highlights:
  • Strong NNN Lease: The site is subject to a triple net lease with no landlord responsibilities.
  • 50 Years of Renewal Options: There are 10, 5-year renewal options, providing a secure and long-term source of income.
  • Ground Rent Coverage: Walgreens pays the annual ground rent of $255,000.
  • Corporate Guarantee: Walgreen's operates over 9,000 drugstores across all 50 states and is one of the largest publicly traded drugstores in the United States.
Description:

NNN Pro is pleased to present the exclusive listing for a Walgreens located at 6700 Ritchie Hwy, Glen Burnie, MD 21061. The site consists of roughly 14,490 rentable square feet of building space on an estimated 2.21-acre parcel of land. This Walgreens is subject to a 25-year Triple Net (NNN) lease, which commenced 7/23/2005. The current annual rent is $228,000.

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