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Continental Realty Corp Sells Governors Commons Shopping Center In Glen Burnie For $9.6M
SOLD
$9,600,000
Maryland
See Similar DealsRetail129,242 SF
Sold 01/24/2025
SOLD
Continental Realty Corp Sells Governors Commons Shopping Center In Glen Burnie For $9.6M
Governor Ritchie Highway
See Similar DealsRetail129,242 SF
Sold 01/24/2025
Summary
MARYLAND
Asset Type:Retail
Price Per Square Foot:$74
Total Square Footage:129,242 SF
Transaction Type:Sale
Continental Realty Corp. sold a shopping center located at 7311 Governor Ritchie Hwy, Glen Burnie, MD. The property spans 129,242 square feet and was sold for $9.6 million, translating to a price per square foot of $74.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,600,000
- Sale Date: 01/24/2025
- Seller: Continental Realty Corp
- Broker Representatives: David Crotts & Dean Zang - Institutional Property Advisors
The deal involved the representation of the seller, Continental Realty Corp, by brokers David Crotts and Dean Zang from Institutional Property Advisors, ensuring the transaction was facilitated by experienced professionals in the retail real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$511,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,106.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,508.90
Annual Debt Service$546,106.77
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