Walgreens Leasehold
$3,546,000
3106 Solomons Island Road, Edgewater, MD 21037
For Sale
Retail
Unknown Sub Type
Active
Last Updated: 08/07/2025
9.25
Cap Rate
14,820 sqft
Building Size
Details:
Cap Rate: 9.25%
Building Size: 14,820 sqft
Lot Area: 3.19 acres
Lease Type: Triple Net
Year Built: 2006
Price Per Sqft: $239
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 $202,400.
- 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 3106 Solomons Island Road, Edgewater, MD 21037. The site consists of roughly 14,820 rentable square feet of building space on an estimated 3.19-acre parcel of land. This Walgreens is subject to a 25-year Triple Net (NNN) lease, which commenced 4/28/2006. The current annual rent is $328,000.
Documents:
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Offering Memorandum
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Location
Gallery
