Value-Add Retail Shopping
1233 Eastern Boulevard Essex, MD 21221
1233 Eastern Boulevard, Essex, MD, 21221
Contact for pricing
For Sale
Contact for pricing
Value-add retail center in Essex submarket of Baltimore County.
Property Size19,750 SF
Price / SF$235.06
Days on Market67
Property Features for 1233 Eastern Boulevard
General Information
- Standard status
- Active
- Size
- 19,750 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1987
Listed by
Graham Slifer · License #5015985
Source
Crexi
Added: May 12 Checked: Jul 15 at 10:06 am
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 Graham Slifer
Investment Insights
Based on property information with market context.
The Eastern Boulevard Shopping Center is available for sale. This property is a service-oriented neighborhood retail center totaling approximately 19,750 square feet. It includes a traditional strip center and a freestanding single-tenant building. Located in the Essex submarket of Baltimore County, Maryland, the property features a mix of six tenants with a weighted average remaining lease term of 4 years and a weighted average tenure of 8.1 years. An inline unit of 1,875 square feet is available for lease. The tenant roster includes First Cash Pawn, Boost Mobile, and Little Ceasars.
Key Highlights
- Value‑add neighborhood retail center in a dense Baltimore County submarket.
- Upside potential through leasing a recently vacated 1,875 sq ft inline unit.
- Balanced roster of six seasoned tenants with a 4‑year weighted average remaining lease term.
Local Financial Insights For 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 | $426.6k | $21.60 |
| − Vacancy | −$27.3k | −$1.38 |
| EGI | $399.3k | $20.22 |
| − OpEx | −$119.8k | −$6.07 |
| NOI | $279.5k | $14.15 |
19,750 SF · lease $21.60/SF/yr · vacancy 6.39% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.99M
$3.49M – $4.66M
NOI $279,538 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$191.61M
$167.66M – $223.55M
NOI $13,412,970 @ 7.0% cap · market cap 288.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Middlesex Shopping Center — by mva, 1322 eastern blvd, essex, md 21221
- Coin Cloud Bitcoin ATM — 1010 Old Eastern Ave, Essex, MD 21221
- Country Ridge Shopping Center — 1550 Country Ridge Ln, Essex, MD 21221
- Middlesex — 1308 Eastern Blvd #2-A, Essex, MD 21221
- Coin Cloud Bitcoin ATM — 1200 Eastern Blvd, Baltimore, MD 21221
FAQs
What type of property is this?
Shopping center - Value-add retail center in Essex submarket of Baltimore County.
Where is this shopping center located?
The property is located at 1233 Eastern Boulevard Essex, MD.
What is the asking price?
The asking price for this property is $4,642,441.
What are key features of this property?
This property features: Value‑add neighborhood retail center in a dense Baltimore County submarket.; Upside potential through leasing a recently vacated 1,875 sq ft inline unit.; Balanced roster of six seasoned tenants with a 4‑year weighted average remaining lease term.
