Established Liquor Store Near Pimlico Race Course – Prime Redevelopment Opportunity

I am pleased to present the opportunity to acquire an established, high-revenue liquor store averaging over $1.2 million in annual sales, inclusive of the underlying real estate, located adjacent to the historic Pimlico Race Course in Baltimore, Maryland.

This offering represents an exceptionally rare combination: a long-standing, cash-flowing retail business paired with fee-simple ownership of the real estate—situated within one of the most significant, state-funded redevelopment corridors in the region. Opportunities of this nature are exceedingly uncommon, particularly for liquor stores, where operators typically lease rather than own their premises.

The business and real estate are offered together at an asking price of $850,000.

Business Overview
Operating continuously for over 40 years, this iconic liquor store has become a cornerstone of the Park Heights community, serving a loyal, multi-generational customer base. The store benefits from deep brand recognition, established supplier relationships, and a carefully curated inventory that ranges from everyday value selections to highly sought-after premium bottles, including rare allocations such as Pappy Van Winkle.

Despite temporary construction-related disruption tied to nearby redevelopment, the business continues to generate strong and stable revenue, underscoring the resilience of its customer base and the essential nature of the product offering.

Real Estate Ownership – A Rare and Strategic Advantage
A defining feature of this offering is the inclusion of the real estate, an asset class advantage that is extraordinarily rare in the liquor store sector. Ownership of the property provides the buyer with:

Long-term cost control and insulation from rent inflation

Optionality for future redevelopment, repositioning, or refinancing

Participation in substantial real estate appreciation driven by public investment

In redevelopment districts, it is far more common for long-term operators to be tenants rather than owners. Acquiring both the operating business and the land positions the buyer to benefit from operating income today and real estate upside tomorrow.

Redevelopment & Market Dynamics
The property is located steps from Pimlico Race Course, home of the world-renowned Preakness Stakes, which is currently undergoing a $400 million, state-funded redevelopment authorized by the Maryland General Assembly and led by the Maryland Stadium Authority.

The multi-phase transformation includes:

A reimagined grandstand and modern clubhouse

New paddock and equine facilities

State-of-the-art racing barns and maintenance infrastructure

Extensive landscaping, site improvements, and utility upgrades

Seamless integration with the surrounding neighborhood

As part of this initiative, local businesses—including this liquor store—are already eligible for grant programs and façade improvement incentives, further enhancing the property’s long-term value.

While construction has temporarily reduced foot traffic, this short-term disruption is widely viewed as a transitional phase preceding long-term, exponential growth.

Growth Outlook
Upon completion of the Pimlico redevelopment, currently projected for 2027, the area is expected to experience a significant increase in year-round visitation, residential density, and economic activity. Historically, the store has achieved monthly revenues exceeding $200,000, and management anticipates a return to—and potential surpassing of—these performance levels as redevelopment milestones are completed.