Current Use by Public Records
- Black Market Bakers Edgewater / Bakery / Specialty Food Shop
Property Details for 155 Mitchells Chance Rd
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 59,979 square-foot shopping center in Edgewater, Maryland, presents a compelling investment opportunity. Located at 155 Mitchells Chance Rd, 21037, this Core+ asset boasts 93% occupancy across 21 tenants offering diverse retail options, including daily needs, entertainment, health & wellness, services, and food & beverage. Recent capital improvements, including a new monument sign, roof upgrades, and parking lot repaving, have significantly enhanced the property's appeal, resulting in increased leasing activity. The center benefits from a prime location between Central Avenue and Mitchells Chance Road, with excellent visibility and accessibility from Solomons Island Road, a major thoroughfare with approximately 69,900 daily vehicles. Seven points of ingress and egress ensure convenient access for shoppers. The surrounding area features strong demographics, with an average household income of approximately $165,000 and a population of 87,600 within a five-mile radius. High barriers to entry and limited new development protect the center from future competition. The property's success is further bolstered by Edgewater's projected population and income growth, driven by the economic expansion of nearby Annapolis and Fort Meade/NSA. This well-positioned shopping center offers a stable and promising investment prospect in a thriving market.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Edgewater
- County
- Anne Arundel
- State
- Maryland
- Longitude
- -76.5639
- Latitude
- 38.9286
