Capitol Heights MD
- CVS has renewed two prior option periods at escalated rents.
- Part of Washington DC MSA with over 6,400,000 Residents.
- Rental increases every 5 years, increase coming in November 2026.
- Over 27 years of operating history with well established clientele.
- Dense in-fill neighborhood location with a population of ±522,409 in a 5-mi radius.
- CVS paying below market rents of $19.52/SF versus $25.75/SF market rate.
- Adjacent to Highland Ridge Apartments with 197 units.
- Government facilities nearby including National Archives, US Census Bureau and Joint Base Andrews.
Pharma Property Group is pleased to market for sale the CVS property located at 4840 Marlboro Pike in Capitol Heights, Maryland ("The Property").
CVS has just over 3 years remaining on the initial term with a rental increase of 4.8% coming at the next option in November of 2026. CVS has been operating successfully at this location for over 27 years and has renewed each of its first two option periods at escalated rents. There are a total of four 5-year options remaining on the lease. At under $19.52 per square foot, CVS is paying well below the current market rent of $25.75 providing strong real estate fundamentals.
The property is located in a densely populated neighborhood, just 5 miles from the US Capitol building and the heart of Washington DC with over 6.4 Million residents. This infill area has approximately 80,000 households within a 3-mile radius. Directly across the street is the Coral Hills Shopping Center, an 89,824 square foot shopping center with a diverse mix of complimentary tenants including Family Dollar, DaVita Dialysis, Subway, Shoppers and AutoZone.