Starlite Plaza
Oakland, MD


Price: $3,800,000
Cap Rate: 6.00%
Gross Leasable Area: 25,748 SF
NOI: $231,835

  • Over 1.4 Million Year-Round Visitors to Deep Creek Lake and Wisp Ski Resort
  • 100% Occupied with Attractive Tenant Mix of Retail, Casual Dining, and Office
  • High Visibility from Garrett Hwy with over 14,000 Vehicle per Day
  • Oakland, MD is County Seat for Garrett County
  • Additional Acreage for Development at Rear of Plaza

Marcus & Millichap is pleased to present the rare opportunity to acquire a dominant retail center in the heart of Oakland, Maryland. Located at 2000 Starlite Plaza, the asset boasts four stand-alone buildings tenanted by multiple publicly traded companies, strong franchisees, and the state of Maryland. The property features a stand-alone Dollar Tree, Aaron’s, Denny’s, and Public Defenders office providing strong retail synergy to the plaza and making it a destination center for locals, commuters, and tourists alike. There are also two unused acres at the rear of the property which provide an investor the ability to further increase the cash flow and attractiveness of the deal by adding additional retail, self-storage, or hospitality. The Dollar Tree is a 10,080 square foot build-to-suit featuring the brand’s iconic look while the Aaron’s is their prototypical 7,200 square foot. The Denny’s at 4,768 square feet is one of the strongest performing locations in the region. The office building in the back provides two suites of 2,285 and 1,415 square feet that are occupied by the Maryland Public Defenders Office and the current operator’s home office respectively. Oakland, Maryland is the county seat for Garrett County, bringing in traffic from all across the state. The property is less than a 10-minute drive from Deep Creek Lake. A four season resort where over 1.4 million vistors each year take advantage of the limitless recreational options including Wisp Ski Resort. With almost 14,000 vehicles a day passing in front of the asset, there is exceptional visibility to both residents and tourists alike. The attractive retail synergy, traffic counts, and surrounding market allow this asset to benefit not just from its immediate submarket but residents from all over Maryland, Pennsylvania, Virginia, and West Virginia. The property is truly one of a kind not just because of its tenant mix but the strategic location within Oakland.

$3.8M | Active Listings | Dollar Store | Land | Maryland | Net-Leased | Opportunity Zone | Restaurant | Single Tenant | STNL