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Single-Tenant Office Medical

ForeFront Dermatology | Brand New 5-Year Lease | Low Rent

77 Thomas Johnson Dr, Frederick, MD 21702

Listing Price: $809,000

Cap Rate
6.12%
Tenant Name
ForeFrtont Dermatology
Years Remaining On Lease
4.2
Gross SF
24,834
Guarantor
Corporate Guarantee
Rentable SF
2,427
Price/Gross SF
$32.58
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.40

Investment Overview

Marcus & Millichap is pleased to represent the exclusive listing for 77 Thomas Johnson Drive, Frederick, Maryland. The Property is a single story medical office condominium located in the heart of the Frederick medical community and within walking distance of the main Frederick Memorial Hospital campus and the massive military complex of Fort Detrick; Fort Detrick is a U.S. Army Medical Research and Development Command (MRDC) installation supporting a multi-governmental community that conducts biomedical research and development, medical material management, worldwide communications, and the study of foreign plant pathogens. Built in 2005, the Property is located strategically right off the Catoctin Mountain Highway and State Route 26 interchange. The Property is fully improved and 100% leased to ForeFront Dermatology. ForeFront entered a brand new, 5-year triple-net lease on March 29, 2021 with 2% annual escalations throughout the base term as well as the renewal options. The lease has a corporate guarantee by ForeFront Dermatology. ForeFront operates 191 locations across 23 states in the United States. In 2021, ForeFront acquired Dr. Elizabeth Liotta’s team and practice, Liotta Dermatology, at this location. Liotta Dermatology is a first-generation tenant at the Property and a preeminent Dermatology practice in the Frederick market.

Investment Highlights

  • Below-Market Rent; Rent Almost 25% Below-Market
  • Superb Demographics; Median Household Incomes Exceed $100.000 within a 10 Mile Radius
  • Excellent Accessibility; Strategically located by Route 15, 1-70 and I-270

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Single-Tenant Office Medical

ForeFront Dermatology | Brand New 5-Year Lease | Low Rent

Listing Price: $809,000

Cap Rate
6.12%
Tenant Name
ForeFrtont Dermatology
Years Remaining On Lease
4.2
Gross SF
24,834
Guarantor
Corporate Guarantee
Rentable SF
2,427
Price/Gross SF
$32.58
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.40

Investment Highlights

  • Below-Market Rent; Rent Almost 25% Below-Market
  • Superb Demographics; Median Household Incomes Exceed $100.000 within a 10 Mile Radius
  • Excellent Accessibility; Strategically located by Route 15, 1-70 and I-270

Investment Overview

Marcus & Millichap is pleased to represent the exclusive listing for 77 Thomas Johnson Drive, Frederick, Maryland. The Property is a single story medical office condominium located in the heart of the Frederick medical community and within walking distance of the main Frederick Memorial Hospital campus and the massive military complex of Fort Detrick; Fort Detrick is a U.S. Army Medical Research and Development Command (MRDC) installation supporting a multi-governmental community that conducts biomedical research and development, medical material management, worldwide communications, and the study of foreign plant pathogens. Built in 2005, the Property is located strategically right off the Catoctin Mountain Highway and State Route 26 interchange. The Property is fully improved and 100% leased to ForeFront Dermatology. ForeFront entered a brand new, 5-year triple-net lease on March 29, 2021 with 2% annual escalations throughout the base term as well as the renewal options. The lease has a corporate guarantee by ForeFront Dermatology. ForeFront operates 191 locations across 23 states in the United States. In 2021, ForeFront acquired Dr. Elizabeth Liotta’s team and practice, Liotta Dermatology, at this location. Liotta Dermatology is a first-generation tenant at the Property and a preeminent Dermatology practice in the Frederick market.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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