Gillis Gilkerson Acquires Pine Grove Village Shopping Center In Riviera Beach For $6.65M
8573 Fort Smallwood Road & 8587 Fort Smallwood Road
$6,650,000
$39/SF
Building Size
85,000 SF
Asset Type
Retail
Closing
Jan 5, 2026
About this deal
AI
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.
On the Map
$6,650,000
$39/SF
Retail
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Players
Pasadena 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
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93