Shadow-Anchored Retail
5960 BELAIR Road Baltimore, MD 21206
For Sale
$4,050,000
Commercial Sale - BALTIMORE, MD
Property Size12,800 SF
Lot Size1.23 Acres
Price / SF$316.41
Days on Market191
Property Features for 5960 BELAIR Road
General Information
Property type
Other
Property subtype
Retail
Parking
50
Parking features
Parking Lot
Standard status
Active
Size
12,800 SF
Lot size
1.23 Acres
Taxes and HOA fees
Tax Annual Amount
56170
Utilities
Cooling system
Central Air
Building Details
Year built
2016
Number of units
1
Building materials
Stucco, Brick, Block
Listing Agency:
Cummings & Co Realtors
(410) 823-0033
Listed By:
Matthew E Garono · License #627356
(410) 688-5285
Added: Jan 19
Changed: Jun 9
Last Checked: Jul 29 at 12:06PM
MLS# MDBA2197926
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Belair Crossing is a fee-simple retail center newly constructed in the fall of 2015. The property totals 12,800 square feet and was 100% pre-leased prior to construction to PNC and Dollar Tree. Both tenants have recently executed their first five-year renewal option following an initial 10-year term. The center is described as shadow-anchored, with co-tenancy benefits associated with Dunkin and a newly constructed and anticipated Lidl supermarket.
The property is located at 5960 Belair Road in Baltimore City, Maryland. At this site, the tenant roster and co-tenancy structure are presented as key elements of the overall retail mix, supporting the center’s role as a neighborhood-oriented shopping destination.
For buyers, this offering provides a fully leased retail asset anchored by a national bank tenant and a value-oriented retail tenant, with renewal activity already completed for both occupants. The stated co-tenancy with Dunkin and Lidl-related development supports continued alignment with consumer foot traffic patterns commonly associated with these operators. The combination of in-place tenancy, fee-simple ownership, and documented renewal activity makes this property suitable for investors seeking a retail center structured around established tenants and evolving retail presence at the location.
The property is located at 5960 Belair Road in Baltimore City, Maryland. At this site, the tenant roster and co-tenancy structure are presented as key elements of the overall retail mix, supporting the center’s role as a neighborhood-oriented shopping destination.
For buyers, this offering provides a fully leased retail asset anchored by a national bank tenant and a value-oriented retail tenant, with renewal activity already completed for both occupants. The stated co-tenancy with Dunkin and Lidl-related development supports continued alignment with consumer foot traffic patterns commonly associated with these operators. The combination of in-place tenancy, fee-simple ownership, and documented renewal activity makes this property suitable for investors seeking a retail center structured around established tenants and evolving retail presence at the location.
Key Highlights
- 100% leased retail center shadow‑anchored by Lidl Supermarket and co‑tenanted with Dunkin.
- Newly constructed in 2016.
- Located in Baltimore City, Maryland.
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 | $215.0k | $16.80 |
| − Vacancy | −$19.4k | −$1.51 |
| EGI | $195.7k | $15.29 |
| − OpEx | −$48.9k | −$3.82 |
| NOI | $146.8k | $11.47 |
12,800 SF · lease $16.80/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.83M – $2.45M
NOI $146,765 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$2.06M
$1.80M – $2.41M
NOI $144,346 @ 7.0% cap · market cap 3.56%
Theoretical Best
Multifamily LT 5
$2.69M
$2.36M – $3.14M
NOI $188,569 @ 7.0% cap · market cap 4.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Gardenville Shopping Center — Belford Shopping Center, 4214 Frankford Ave, Baltimore, MD 21206
- Vendeur de panier de crabe Baltimore — 1 Maple Ave, Baltimore, MD 21206
Frequently Asked Questions
What type of property is this?
Shopping center - Fee-simple retail center with PNC and Dollar Tree leases and co-tenancy with Dunkin and Lidl developments.
Where is this shopping center located?
The property is located at 5960 BELAIR Road Baltimore, MD.
What is the asking price?
The asking price for this property is $4,050,000.
What are key features of this property?
This property features: 100% leased retail center shadow‑anchored by Lidl Supermarket and co‑tenanted with Dunkin.; Newly constructed in 2016.; Located in Baltimore City, Maryland.
