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Gillis Gilkerson Acquires Pine Grove Village Shopping Center In Riviera Beach For $6.65M

Property Image
SOLD
$6,650,000
Tim Harrington
Michael Ruocco

Maryland

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Retail170,000 SF
Sold 01/05/2026
the dealplayerscompscontact
Property Image
SOLD

Gillis Gilkerson Acquires Pine Grove Village Shopping Center In Riviera Beach For $6.65M

8573 Fort Smallwood Road & 8587 Fort Smallwood Road

See Similar Deals
Retail170,000 SF
Sold 01/05/2026
Tim Harrington
Michael Ruocco
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:Retail
Price Per Square Foot:$39
Total Square Footage:170,000 SF
Transaction Type:Sale

The property asset involves a retail space located at 8573 Fort Smallwood Road & 8587 Fort Smallwood Road in Riviera Beach, MD. The sale occurred for a total amount of $6,650,000. The asset encompasses 85,000 square feet of retail space situated on 7.6 acres.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,650,000
  • Address: 8573 Fort Smallwood Road & 8587 Fort Smallwood Road
  • Market: Riviera Beach, MD
  • Square Footage: 85,000
  • Price Per Square Foot: $78

The deal involved Gillis Gilkerson as the buyer, and the transaction was facilitated by brokers Michael Ruocco and Tim Harrington from MacKenzie Commercial Real Estate Services. This partnership is noted for acquiring the Pine Grove Village Shopping Center in Riviera Beach, MD.

Players

Tim Harrington
MacKenzie Commercial Real Estate Services
Tim Harrington
2 deals$32.7M volume(410) 494-4855
BROKER
Michael Ruocco
MacKenzie Commercial Real Estate Services
Michael Ruocco
1 deal$6.7M volume(410) 627-6881
BROKER

Details

SOLD
IMAGE: 01/05/2026 ADDRESS: 8573 Fort Smallwood Road & 8587 Fort Smallwood Road MARKET: Riviera Beach, MD ASSET TYPE: Retail BUYER: Gillis Gilkerson BROKERS: Michael Ruocco & Tim Harrington - MacKenzie Commercial Real Estate Services SALE PRICE: $6,650,000 SF: 85,000 ~ PPSF: $78 NOTE: Gillis Gilkerson-led partnership acquired Pine Grove Village Shopping Center in Riviera Beach, MD, a 85,000-SF retail property on 7.6 acres, for $6.65M.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$354,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,626.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,524.39
Annual Debt Service$378,292.71