497 Ritchie Highway For Sale - CALL FOR OFFERS - DUE BY 12/23 (COB)!! Primary Highlights: Approx. 20k Sq. Ft. on approx. 1.13 acres, Zoned C3 (AA County). Core-plus investment opportunity with value-add upside potential. Unanchored retail strip center, with a lower level in rear that is at-grade with lots of parking and retail signage. Nearly 150’ of direct frontage along Ritchie Hwy. and 150’ along Asbury Drive. Two (2) different points of ingress and egress. Located squarely in the heart of the Ritchie Hwy Corridor - main thoroughfare for this market. Situated at the highest traffic count stretch of Ritchie between Rte. 50 and Rte. 100. Tenants include The Donut Shack (a 30+ yr. institution in Severna Park), Verizon Wireless, Pitaya Mexican restaurant, Ava Nails Lashes and Spa, Alpha Fitness and Magnolia Wellness. Extremely high barriers to entry for new retail development along Ritchie Hwy in Severna Park. Historically very low vacancy at the property, and within the Severna Park retail market as a whole. Average Lease Term Remaining: Approx. 55.7 months (4.5 years). Value-Add ability to increase rents with many below-market leases, ability to back-fill current Owners office/retail space after sale and obvious ability to upgrade facade and pylon signage to maximize rent growth upon renewals/re-leasing. Note: The property is subject to a perpetual ground lease. Contact Broker for more details and NDA.