SOLDRetail
Timber Development Corp Sells Hannah Plaza Retail Center In Cresaptown For $2.2M
15300 Mcmullen Highway Southwest
$2,200,000
$33/SF
Building Size
65,000 SF
Asset Type
Retail
Closing
Aug 4, 2026
AI
The property involved in this transaction is a retail asset located at 15300 McMullen Highway Southwest in Cresaptown, MD. The shopping center, known as Hannah Plaza, encompasses a total area of 65,000 square feet and was sold for $2.2 million, resulting in a price per square foot of $34.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,200,000
- Address: 15300 McMullen Highway Southwest
- Market: Cresaptown, MD
- Square Footage: 65,000
- Price Per Square Foot: $34
- Seller: Timber Development Corp
- Broker: Doug Macy - Long & Foster Real Estate
This transaction was executed by Atlanta-based Timber Development Corp, which was the seller in this deal. The broker representing them was Doug Macy from Long & Foster Real Estate, facilitating the sale of the shopping center to an auto dealer.
Cumberland Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93