Overview
KLNB Retail Capital Markets is pleased to exclusively present for sale the leasehold interest in Rockville Pike Retail, a 23,357 SF multi-tenant retail property located in Rockville, MD. The fully occupied center features a strong mix of tenants, including Hangry Joe’s, Crust and Crumb, and AAA in a multi-tenant retail strip, as well as a freestanding Patient First urgent care. All tenants are on long-term NNN leases with staggered lease expirations and annual rental escalations, providing investors with a truly passive investment opportunity with full expense reimbursement, predictable income, and a built-in hedge against inflation. The asset sits on a prominent 2.9-acre parcel along Rockville Pike (MD Route 355), the most dominant retail corridor in Montgomery County, which sees more than 48,000 vehicles per day. Located in a strong-demographic, supply-constrained submarket within the Washington, D.C. MSA, Rockville Pike Retail presents a rare opportunity to acquire a stabilized, high-performing retail asset with strong in-place income and long-term growth potential.
Investment Highlights
- 100% occupied by a strong lineup of tenants with long-term occupancy; Patient First has been at Center for 13 years or since 2012 and AAA has been in occupancy for 14 years or since 2011.
- Rare opportunity to acquire 23,357 square feet across two freestanding buildings located on a prime 2.9-acre site.
- All leases are triple net (NNN) lease structures, fully reimbursing operating expenses and minimizing landlord responsibilities —creating a truly passive investment opportunity.
- Strong WALT and staggered lease roll allows for an investor to hedge their rollover risk over the next 10 years.
- All leases feature built-in annual rental escalations in their base term and option periods, ensuring consistent income growth and an effective hedge against inflation.
- More than 120,000 residents with an average household income of over $179,000 within a 3-mile radius of the subject property.
- The property benefits from direct access to key transportation arteries including I-270 and the nearby Twinbrook and Rockville Metro stations (Red Line), providing seamless regional connectivity.
Dense and Affluent Submarket
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