602 S Philadelphia Blvd

Aberdeen, MD, 21001

$1,950,000

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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.

Essential Information

MLS® #MDHR238730
Price$1,950,000
Bathrooms0.00
Square Footage2,940
Acres1.04
Year Built1999
TypeCommercial Sale
Sub-TypeRetail
StatusActive

Community Information

Address602 S Philadelphia Blvd
CityAberdeen
CountyHARFORD-MD
StateMD
Zip Code21001

Interior

HeatingOther
CoolingOther

School Information

DistrictHARFORD COUNTY PUBLIC SCHOOLS

Additional Information

Date ListedSeptember 13th, 2019
Days on Market133
ZoningB3

Listing Details

OfficeGarceau Realty

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Listing information last updated on January 23rd, 2020 at 2:46pm EST.