301 Crusader Rd Cambridge, MD 21613
- Banks
- 8,388 SF
- 1.06 lot acres
Current Use by Public Records
- Summit Community Bank / Bank / Atm
- Benson and Mangold Real Estate Eastern Shore Homes / Real Estate Agent
- Melinda Madison, Benson & Mangold, LLC / Real Estate Agent
Property Details for 301 Crusader Rd
- Year built
- 1986
- Construction
- BRICK
- Lot size
- 1.06 lot acres
- Property size
- 8,388 SF
- Zone code
- R-4
- Property type
- Banks
- APN
- 07-118694
- APU
- 7118694
Description
This exceptional investment opportunity presents a multi-tenant retail property in Cambridge, Maryland, currently occupied by a strong regional bank. Located on 1.06 acres at 301 Crusader Rd, 21613, this 8,000 square foot building boasts 5,150 square feet of net rentable space, offering a compelling return. The property, built in 1986 and extensively renovated in 2021, features a desirable Corridor MixedUse zoning. The asking price is $1,150,000, representing a current cap rate of 3.49% and a pro-forma cap rate of 9.31%. The current NOI is $40,143, with a pro-forma NOI of $107,034. The property benefits from a prime location, just two minutes from historic downtown Cambridge and less than a minute from the newly developed Cambridge Marketplace, home to Starbucks, Chick-fil-A, and the University of Maryland Shore Medical Center. Recent improvements include landscaping, parking lot resurfacing, new HVAC units, and a complete interior remodel of the bank in 2021. The tenant, a well-established regional bank, provides a high credit tenant with a long-term lease (NNN) and a high barrier to entry, ensuring a stable and potentially lucrative investment for years to come. The property's strong location and recent upgrades make it an attractive investment opportunity with significant upside potential. The price per square foot is $143.75.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $975,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,075,000
- 6.5%
- $1,050,000
- 7%
- $1,100,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,185,000
- Geo Method
- $1,230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,120,000
- Retail
- $1,095,000
- Mixed-Use
- $1,235,000
- Hospitality
- $1,140,000
- Educational
- $1,210,000
- Residential Income
- $1,270,000
- Energy
- $1,310,000
- Income-Based Land
- $1,065,000
- Food Service
- $1,010,000
Location Insight
- Map
- Local Demand
- City
- Cambridge
- County
- Dorchester
- State
- Maryland
- Longitude
- -76.0628
- Latitude
- 38.5652
- CBSA code
- 15700
- CBSA name
- CAMBRIDGE, MD MICROPOLITAN STATISTICAL AREA
