Historic Downtown Mount Airy
For Sale
$2,850,000
233-239 South Main Street, Mount Airy, MD 21771
Two retail buildings in historic Mount Airy downtown.
Property Size9,613 SF
Price / SF$296.47
Days on Market252
Property Features for 233-239 South Main Street
General Information
Standard status
Active
Size
9,613 SF
Property subtype
Retail
Listing Agency:
(301) 605-3846
Listed By:
James F. Miers
(301) 605-3846
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Jul 31 at 6:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of James F. Miers
Investment Insights
Based on property information with market context.
Located in the heart of Mount Airy’s historic downtown, 233-239 South Main Street is a commercial investment opportunity, consisting of two retail buildings. The property, built in 1928, totals 9,613 square feet in two buildings. The two-story brick building at 233 South Main Street totals 8,400 square feet and once served as the Mt. Airy Volunteer Fire Department. The building offers restaurant and boutique shop space. Constructed more recently, 239 South Main Street is a single-story building totaling 1,213 square feet and is presently home to a bakery. The property is currently occupied by four tenants, with potential for an owner-user to occupy a portion of the space. The property offers ample parking spaces and handicap-accessible entrances to its shops. The surrounding area has seen steady investment and revitalization. Positioned in Mount Airy’s most walkable corridor, 233-239 South Main Street is surrounded by locally-owned shops, eateries, and civic landmarks. The space has long served as a destination for specialty retail, restaurants, and neighborhood foot traffic. The property has quick and easy access to I-70 and is well situated between Baltimore and Frederick, MD.
Key Highlights
- Prime location in Mount Airy's historic downtown, a walkable corridor surrounded by shops and restaurants.
- Investment opportunity with two retail buildings totaling 9,613 SF.
- Potential for owner‑user to occupy a portion of the property while generating income from existing tenants.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $336.8k | $35.04 |
| − Vacancy | −$4.4k | −$0.46 |
| EGI | $332.5k | $34.58 |
| − OpEx | −$83.1k | −$8.65 |
| NOI | $249.3k | $25.94 |
9,613 SF · lease $35.04/SF/yr · vacancy 1.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.56M
$3.12M – $4.16M
NOI $249,345 @ 7.0% cap · market cap 8.75%
Second Best
Retail
$1.50M
$1.31M – $1.75M
NOI $104,712 @ 7.0% cap · market cap 3.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
373k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Superstores 18%
Shops & Services 16%
Groceries 15%
Walmart
Superstores
68,645 visits/mo
0.3 miles
Chick-fil-A
Dining
54,599 visits/mo
0.1 miles
McDonald's
Dining
37,254 visits/mo
0.1 miles
Safeway
Groceries
34,098 visits/mo
0.3 miles
Starbucks
Dining
25,978 visits/mo
0.3 miles
Demographics for 21771, MD
30,697
Population
11,401
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
95%
High-School Grad
89.5 sq mi
ZIP Area
343
Density / Sq Mi
$154,844
Median Household Income
$70,011
Median Earnings
$2,117
Median Rent
$532,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Two retail buildings in historic Mount Airy downtown.
Where is this strip mall located?
The property is located at 233-239 South Main Street Mount Airy, MD.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Prime location in Mount Airy's historic downtown, a walkable corridor surrounded by shops and restaurants.; Investment opportunity with two retail buildings totaling 9,613 SF.; Potential for owner‑user to occupy a portion of the property while generating income from existing tenants.
