505-509 Reisterstown Rd Pikesville, MD 21208

Property Details for 505-509 Reisterstown Rd

Year built

1963

Lot size

0.82 lot acres

Property size

11,048 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents Sequoia Center, a 11,048-square-foot retail shopping center situated on a 0.82-acre lot in Pikesville, Maryland. The property, located at 505-509 Reisterstown Rd, zip code 21208, boasts a prime location with high visibility on Reisterstown Road, a major thoroughfare. Built in 1963 and renovated in 2024, the Class B property comprises two single-story buildings housing six tenants across 11,048 net rentable square feet. Currently operating at 100% occupancy, the center offers a stable income stream with a strong 7.50% capitalization rate and a net operating income exceeding $167,000. The property features straightforward NNN lease structures with built-in escalations and lease terms, minimizing management responsibilities. Ample parking is available with 40 spaces, ensuring convenient access for both tenants and customers. The property is zoned BL and has been professionally managed and maintained by the same owners for many years, demonstrating a commitment to long-term value. This stabilized investment offers a compelling opportunity for a buyer seeking a well-maintained, high-performing retail asset in a desirable location. The property's two APNs are 03-0307053046 & 03-0307053066.