1633 W Pulaski Hwy 5,602 SF 90% Leased Retail Building Elkton, MD 21921 $1,399,000 ($249.73/SF) 6.49% Cap Rate

This 2.33-acre investment property offers an excellent opportunity for investors seeking strong cash flow with significant upside potential. The property features five buildings totaling 5,600 sq ft and is currently configured with a mix of retail and residential tenants, providing diversified income streams.
Key investment attributes include:
Multiple Tenant Setup – Combination of retail and residential units generating steady rental income.
Below-Market Rents – Current rental rates are well below market, offering immediate upside through lease renewals and tenant repositioning.
Partial Vacancy – Existing vacancy provides an opportunity to bring in new tenants at higher market rates.
Billboard Income – Additional revenue from an existing billboard lease with further potential for renegotiation or expansion.
Prime Frontage – Highly visible location directly fronting Pulaski Highway (US Route 40), providing excellent exposure for retail tenants and future leasing efforts.
Expansion Potential – Substantial additional land in the rear of the property allows for future development, additional parking, or building expansion.
This property presents a value-add opportunity for an investor looking to acquire a multi-tenant asset with built-in rent growth, diversified income, and development upside in a high-visibility corridor. The combination of current cash flow, below-market rents, and excess land makes this a compelling investment with multiple paths to increase NOI and overall return.