Investment Overview

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 space. The Denny’s restaurant, 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 20-minute drive from WISP Ski Resort, making Starlite Plaza a main stop for tourists visiting in the fall/winter, and Deep Creek Lake in the spring/summer. 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 also from residents 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.