5615 Spectrum Dr
Frederick, MD 21703
CAVA Restaurant | New 20-Year NNN · Retail Property For Sale
PROPERTY FACTS
Property Type
Retail
Property Subtype
Restaurant
Building Size
1,850 SF
Building Class
C
Year Built
2019
Tenancy
Single
Building Height
2 Stories
Building FAR
0.07
Lot Size
0.58 AC
Zoning
GC
Parking
9 Spaces (4.86 Spaces per 1,000 SF Leased)
ABOUT 5615 SPECTRUM DR , FREDERICK, MD 21703
Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the ground leased interest in a freestanding CAVA restaurant in Frederick, Maryland, an affluent, rapidly growing Washington, D.C. suburb. The corporate tenant, Cava Mezze Grill, LLC, executed a new 20-year absolute net ground lease that commenced in June 2019. The lease features 10 percent rental increases every five years during the base term and two, five-year option periods. Astute buyers will be drawn to this offering for the quality of the location, the additional security provided by the ground lease, and the potential upside in CAVA’s credit as the company considers an IPO.
PROPERTY TAXES
| Parcel Number | 28-596646 | Improvements Assessment | $630,600 |
| Land Assessment | $445,300 | Total Assessment | $1,075,900 |
