301 Crusader Rd Cambridge, MD 21613

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.

Location Insight

City

Cambridge

County

Dorchester

State

Maryland

Longitude

-76.0628

Latitude

38.5652

CBSA code

15700

CBSA name

CAMBRIDGE, MD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments