Listing Agency: KLNB - Baltimore Show Phone

Listed By: Matt Copeland · License #666481

Source: Moodyscre

Added: May 29, 2024 Changed: Jul 10 Last Checked: Jul 21 at 4:15AM

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Investment Insights

Based on property information with market context.

This 169,000 square foot shopping center is located in an underserved area of Montgomery County. The location is undergoing a $20 million renovation project that includes an extension of Centerway Road, the addition of outdoor seating areas, and a complete facade renovation. Furthermore, the location will feature 280 new residential units.

Key Highlights

• 169,000 SF shopping center.
• $20M renovation project including Centerway Road extension, outdoor seating areas and complete facade renovation.
• 280 new residential units.

Property Analytics

Property Profile

Current Use

Shopping centers

Suggested Use

Top Pick Restaurant Real Estate Agency Building Supply Auto Repair Shop Law Firm Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

658

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this shopping centers located? What is the lease rate? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Shopping center - 169,000 SF shopping center in Montgomery County.

Where is this shopping center located?

The property is located at 19150-19235 Montgomery Village Ave Gaithersburg, MD.

What are key features of this property?

This property features: 169,000 SF shopping center.; $20M renovation project including Centerway Road extension, outdoor seating areas and complete facade renovation.; 280 new residential units.