Dark CVS - 845 Bladensburg Rd NE

845 Bladensburg Road Northeast, Washington, DC, 20002, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire a single-tenant CVS lot located at 845 Bladensburg Road NE, Washington, DC 20002 (the “Property” or the “Offering”).

This dark CVS has 2.33 years of term remaining with a corporate guaranteed, NNN lease. The Property sits on 1.76 acres on a corner lot in the densely populated, affluent H Street corridor. This opportunity offers investors business plan flexibility with the Property’s MU-7B mixed-use zoning offering by-right residential conversion optionality with various density designations. The Property presents an opportunity to acquire premier real estate on a NNN lease with limited landlord responsibilities, offering 2+ years of passive cash flow guaranteed by the nation’s largest pharmaceutical corporation with value-add upside through future residential redevelopment.

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Attributes

Building area net

1,254 sm

Occupancy

100%

Year built

1999

Media

Investment highlights

Affluent Residential Node - 87% of Working Population has a White Collar Job with AHHI of $172,565 in a 1-Mile Radius
4.8 FAR Redevelopment Potential - MU-7B Zoning Permits up to 366,955 SF of Allowable Area
1.76 Acres with By-Right Conversion Optionality Along Coveted H Street Corridor
Investment Grade Tenancy - CVS Corporate Guaranteed Lease
Business Plan Flexibility - Lease-Up Existing Space or Develop for Residential or Commercial Use
$3.96B of Buying Power Among 47,397 Residents in a 1-Mile Radius