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Pikesville Center - Baltimore MSA 1510 Reisterstown Rd 24,741 SF 100% Leased Retail Building Pikesville, MD 21208 $9,840,000 ($397.72/SF) 7.25% Cap Rate
Investment Highlights
- Walgreens Anchored Retail Center | Long Term Leases | Scheduled Rental Increases | 100% Occupancy
- Interstate 695/Baltimore Beltway | Excellent Visibility Access
- Located at Signalized Hard Corner Intersection | Dense Retail Corridor | Nearby National/Credit Tenants
- Strong Demographics In 5-mile Trade Area | Baltimore MSA
Executive Summary
• Walgreens anchored center providing for 89% of the base rental income and occupies 75% of the GLA
• Additional tenants include ASAP Cleaners, Gage Court Clothiers, and Girlkin Lashes
• ASAP Cleaners and Girlkin Lashes have more than 4 years remaining on their lease terms
• Scheduled annual rental increases for ASAP Cleaners and Girlkin Lashes, steadily growing NOI and hedging against inflation
• Stabilized asset at 100% occupancy
• Additional tenants include ASAP Cleaners, Gage Court Clothiers, and Girlkin Lashes
• ASAP Cleaners and Girlkin Lashes have more than 4 years remaining on their lease terms
• Scheduled annual rental increases for ASAP Cleaners and Girlkin Lashes, steadily growing NOI and hedging against inflation
• Stabilized asset at 100% occupancy
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
24,741 SF
Building Class
B
Year Built/Renovated
1982/2013
Price
$9,840,000
Price Per SF
$397.72
Cap Rate
7.25%
NOI
$713,096
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
1 Exterior
Slab To Slab
10’
Building FAR
0.29
Lot Size
1.97 AC
Zoning
Commercial
Parking
88 Spaces (3.56 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Services
- -
- -
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Jan 0000
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
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Services | - | - | Jan 0000 |
Walk Score®
Very Walkable (79)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $6,907,000 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$6,907,000
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Pikesville Center - Baltimore MSA | 1510 Reisterstown Rd
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