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24439037
24426731

211-219 Collins Ave / 4020 Frederick Ave, Baltimore, MD 21229

GN
MD 623443
Neuman Commercial Group Owings Mills
Listed by Neuman Commercial Group Owings Mills
$3,800,000
93 days on market
Updated 11 days ago

Collins Ave Shopping Center

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 28,841
Cap Rate 10.00%
NOI $379,315
Occupancy 100%
Tenancy Multi
Brand/Tenant Dollar General
Lease Type NNN
Rent Bumps Yes
Broker Co-Op Yes
Class B
Year Built 1966
Year Renovated 2023-2024
Buildings 1
Stories 1
Acreage 1.790
Investment Type Stabilized

Retail | 10.00% CAP | 28,841 SqFt

Marketing description

A fully renovated 100% leased 28,841 square foot retail center with ample parking at the corner of Frederick and Collins Avenues, serving the dense urban west side of Baltimore City. Four stable long-term national and regional triple-net tenants -- anchored by Dollar General (NYSE:DG) – offer investors immediate high-yield, long-term stability and growing cash flow. Located in a high-barrier-to-entry infill location, available at significantly below replacement cost with almost no maintenance going forward.

Investment highlights

100% leased 28,800 square foot retail center; four stable long-term triple-net tenants anchored by Dollar General (NYSE:DG).

Immediate high-yield, long term stability and growing cash flow in high-barrier-to-entry infill location.

Almost zero forward maintenance: fully renovated in 2022 for $1.9 million including new roofs with warranties, parking lot, HVAC, plumbing, electrical, canopy, signage, and interiors.

Strong tenant base: Dollar General leased through 2032, recently expanded national Israelite Church (12 locations) through 2035. Historical ABH Pharmacy and Collins Beauty recently renewed.

Dense urban location: 22,000 residents within 1 mile, 192,000 in 3 miles, 469,000 in 5 miles.

Stable long-term cash flow with built-in rent increases.

Easy ingress/egress at corner site with highly visible signage.

Near Ascension Saint Agnes Hospital and Irvington neighborhood revitalization; new 54-unit residential complex (.4 miles), The Greens at Irvington Mews II (0.3 miles) 59 senior apartments, OASIS @ 240 community green space/urban agriculture project (0.4 miles).

Baltimore City major economic drivers National and Social Security Administrations, the Baltimore Port national leader in automobile and break-bulk cargo, Under Armour, Harley-Davidson, FedEx, Exelon, Amazon, 24 colleges including Johns Hopkins University and Hospital. Major development 3,100-acre international trade and transportation hub Tradepoint Atlantic, $150 million renovation of CFG Bank Arena entertainment venue renovation, historic Penn Station revitalization with 1 million square feet of new space, Harbor Point waterfront community, Lexington Market, Pimlico Racetrack, and $1 Billion slated reimagining of Baltimore’s iconic Harborplace.

Listing Contacts

GN
MD 623443
Neuman Commercial Group Owings Mills
Listed by Neuman Commercial Group Owings Mills

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$379,315.00
$31,609.58/mo

Valuation Metrics

0
DSCR
9.98%
Cap Rate
9.98%
ROI

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