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Centreville Plaza 611 Railroad Ave 58,686 SF 88% Leased Retail Building Centreville, MD 21617 $7,238,000 ($123.33/SF) 6.50% Cap Rate
Investment Highlights
- Anchored by an established Acme-Albertsons-owned Safeway and ACME markets are prominent players in the Mid-Atlantic region
- With six, 5-year options with 10% bumps in each option, there is built in rent growth for this well located Acme Net Ground lease.
- Also, an open pad space opportunity exists for potential future development, further enhances rent growth.
- Located in Centreville MD on the Eastern Shore of Maryland in Queen Anne’s County on the Delmarva Peninsula and is the county seat
- Centreville Plaza has substantial rent growth opportunity with lease up of vacant space and anchor tenant rent increases.
Executive Summary
Broker of Record
Kyle Matthews
License No. 664913 (MD)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. 664913 (MD)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
58,686 SF
Building Class
B
Year Built
2003
Price
$7,238,000
Price Per SF
$123.33
Cap Rate
6.50%
NOI
$470,445
Percent Leased
88%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.12
Lot Size
10.95 AC
Zoning
C-3
- Business
Parking
376 Spaces (6.41 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-034631 | Improvements Assessment | $2,168,300 |
| Land Assessment | $3,012,000 | Total Assessment | $5,180,300 |
Property Taxes
Parcel Number
03-034631
Land Assessment
$3,012,000
Improvements Assessment
$2,168,300
Total Assessment
$5,180,300
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Centreville Plaza | 611 Railroad Ave
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