602 S Philadelphia Boulevard

    ABERDEEN, MD 21001
    • $1,950,000
    • STATUS: Active
    • ON SITE: 90 days
    • ID#: MDHR238730
    $1,950,000
    • 0
      BEDS
    • 1.04
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    Built:
    1999
    County:

    School Ratings & Info

    Description

    The Feazell Commercial Group is pleased to present for sale a 7-Eleven gas and convenience store located in Aberdeen, MD just 30 miles North of Baltimore City. Built in 1999, the property consists of a freestanding building with a Gross Leasable Area (GLA) of 2,960 square feet and a gas station with six gas pumps, situated on a 1.04-acre lot. 7-Eleven is on a corporately guaranteed, Triple-Net (NNN) ground lease (no landlord responsibilities) with 5.1 years remaining in their first renewal option (April 2024 expiration) and four more remaining, five-year extension options. Cap rate is 5.38%. The lease calls for 15% increases every five years, including the option periods which is very rare. The lease is guaranteed by 7-Eleven, Inc., the world~s leading convenience store with an S&P credit rating of AA- and a Moody~s credit rating of Baa1. Exercising of the first renewal option shows commitment to the site. The City of Aberdeen has passed an ordinance against building any new gas station facilities in the City on Philadelphia Blvd. (Rt 40) so there is very limited competition to this site. Aberdeen as a city is the largest employer in Harford County MD. This 7-Eleven gas and convenience store is located at the intersection of South Philadelphia Blvd and James St and has an average daily traffic count of 34,000+ vehicles per day. The property is in an area with a population of over 45,600 people living within a five-mile radius. Major retail tenants and points of interest in close proximity include: McDonald~s, Lidl, Precision Tune, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. The property~s corporate guarantee and strategic location make this 7-Eleven an attractive investment opportunity.

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    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-12-12T23:52:16.523.
    www.ajteamrealty.com/homes/98947905

    602 S Philadelphia Boulevard ABERDEEN, MD 21001

    • Price: $1,950,000
    • Status: Active
    • ID#: MDHR238730
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.04
    Acres
    1999
    Built
    County:
    Harford
    School District:
    Harford County Public Schools
    Property Description
    The Feazell Commercial Group is pleased to present for sale a 7-Eleven gas and convenience store located in Aberdeen, MD just 30 miles North of Baltimore City. Built in 1999, the property consists of a freestanding building with a Gross Leasable Area (GLA) of 2,960 square feet and a gas station with six gas pumps, situated on a 1.04-acre lot. 7-Eleven is on a corporately guaranteed, Triple-Net (NNN) ground lease (no landlord responsibilities) with 5.1 years remaining in their first renewal option (April 2024 expiration) and four more remaining, five-year extension options. Cap rate is 5.38%. The lease calls for 15% increases every five years, including the option periods which is very rare. The lease is guaranteed by 7-Eleven, Inc., the world~s leading convenience store with an S&P credit rating of AA- and a Moody~s credit rating of Baa1. Exercising of the first renewal option shows commitment to the site. The City of Aberdeen has passed an ordinance against building any new gas station facilities in the City on Philadelphia Blvd. (Rt 40) so there is very limited competition to this site. Aberdeen as a city is the largest employer in Harford County MD. This 7-Eleven gas and convenience store is located at the intersection of South Philadelphia Blvd and James St and has an average daily traffic count of 34,000+ vehicles per day. The property is in an area with a population of over 45,600 people living within a five-mile radius. Major retail tenants and points of interest in close proximity include: McDonald~s, Lidl, Precision Tune, Walmart, Wawa, Royal Farms, Autozone, and Dominos Pizza. The property~s corporate guarantee and strategic location make this 7-Eleven an attractive investment opportunity.
    Exterior Features

    Construction Materials Other Garage YN No Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 2940.00 Cooling Other Heating Other Heating YN Yes Net Square Feet 2940.00

    Property Features

    Accessibility Features Other Assessment Year 2019 Association YN No Business Type Other/General Retail Cap Value Ground Rent 0.0 Central Air YN No Cooling Fuel Other Ground Rent Amount 0.00 Ground Rent Payment Frequency Unknown Heating Fuel Other Hot Water Other Incorporated City Name Aberdeen Navigable Water YN N New Construction YN No Number Of Units Total 1 Original MLSNumber 302045067036 Ownership Interest Ground Rent Possession Immediate Property Sub Type Retail Sale Type Standard Sewer Public Septic Tax Annual Amount 14840.0 Tax Assessment Amount 896167.0 Tax Lot 1 Vacation Rental YN No Water Source Public Zoning B3

    Listing courtesy of Garceau Realty.


    ©2019 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2019-12-12T23:52:16.523.
     
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