220-228 Reisterstown RdPikesville, MD 21208

Property Details for 220-228 Reisterstown Rd

Year built

1967

Lot size

0.40 AC

Property size (Sq ft)

6,725 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents Colby Center, a stabilized 6,725 square foot shopping center situated on Reisterstown Road in Pikesville, Maryland. The property boasts five tenants, achieving 100% occupancy, with a strong history of high occupancy year-over-year. Four unique boutique tenants are complemented by a Rita's Italian Ice franchise, ensuring a diverse and stable tenant mix. The property generates a net operating income exceeding $104,600, representing a compelling 7.70% capitalization rate. Each tenant operates under a triple-net (NNN) lease structure, incorporating built-in escalations and favorable lease terms. The 0.4-acre lot provides ample parking for customers, easily accessible from both Reisterstown Road and Colby Road. Benefiting from decades of professional management and maintenance by the same owners, Colby Center enjoys high visibility due to prominent signage on Reisterstown Road, a major thoroughfare in Pikesville. Built in 1967, this property is zoned BL and features 24 parking spaces. The property's address is 220-228 Reisterstown Rd, Pikesville, MD 21208, with APN 03-0318011605. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a desirable location.

Location Insight

City

Pikesville

County

Baltimore

State

Maryland

Latitude

39.366

Longitude

-76.715

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