201 Mansion

201 MANSION DR. | PERRYVILLE, MD 21903

Harbor Stone Advisors is pleased to present the unique opportunity to acquire 201 Mansion Dr., a renovated multifamily asset located in Perryville, Maryland. Located near the Susquehanna River, the property is less than a 10 minute drive away from Hollywood Casino and Great Wolf Lodge, two of the area's main attractions. 201 Mansion Dr. is also a 5 minute drive from the Perryville MARC Train Station, allowing convenient access to Baltimore and Washington, DC.

201 Mansion Dr. features 5 large, furnished units with a mix of (2) 1 Bedrooms and (3) 2 Bedrooms. Current ownership completed a renovation of the property in 2024 which included apartment updates and new mechanical and electrical systems. Typical unit features consist of white appliances, granite countertops, hardwood and tile flooring, and high-end finishes. 

The property currently operates as a mid-term rental, with tenants typically staying for at least 30 days, and has generated more than $100,000 in rental revenue over the last 12 months. The opportunity exists for a new owner to continue running the asset as a mid-term rental with the ability to increase the nightly rate by at least $35 based on similar assets nearby. There is also an ability for a new owner to operate the building as conventional apartments, rent out the owner's unit, and perform a light upgrade with a suggested scope of stainless steel appliances, and in-unit washer/dryers in units 1A and 2C.

Unique Opportunity to Acquire a Renovated Asset in Perryville, MD

• Features 5 large, furnished units with a mix of  (2) 1 Bedrooms and (3) 2 Bedrooms

• Current ownership completed a renovation of the property in 2024 which included apartment updates and new mechanical and electrical systems

• Typical unit features consist of white appliances, granite countertops, hardwood and tile flooring, and high-end finishes

Ability to Increase Rents Via Mid-Term or Conventional Rental Model

• Property currently operates as a mid-term rental, with tenants typically staying for at least 30 days, and has generated more than $100,000 in rental revenue over the last 12 months

• Opportunity exists for a new owner to continue running the asset as a mid-term rental with the ability to increase the nightly rate by at least $35 based on similar assets nearby

• There is also an ability for a new owner to operate the building as conventional apartments, rent out the owner's unit, and perform a light upgrade with a suggested scope of stainless steel appliances, and in-unit washer/dryers in units 1A and 2C

Excellent Location in Cecil County

• Located near the Susquehanna River and conveniently located near dining and retail

• Easy access to Route 40 and close proximity to the Perryville MARC Train Station

• Major area employers/colleges nearby: Perry Point VA Medical Center, Great Wolf Lodge, Hollywood Casino, and Cecil College

Perryville, MD (Cecil County)

201 Mansion Drive is located in Perryville, Maryland, a waterfront community in Cecil County at the northern edge of the Baltimore MSA. The town offers direct access to I-95 and US-40, while the Perryville MARC Station—just a 6-minute drive from the property—provides seamless rail connections to Baltimore, Washington, D.C., and Philadelphia.

Residents also enjoy proximity to the Chesapeake Bay and Susquehanna River, enhancing the community’s appeal with a blend of convenience and natural amenities. Perryville has become a growing destination for entertainment and hospitality. The Great Wolf Lodge Maryland, the chain’s largest water park and resort, represents a $250 million investment that created thousands of jobs and is projected to generate over $100 million in annual economic impact. Just minutes away, Hollywood Casino Perryville, Maryland’s first casino, has averaged $75 million in annual gaming revenue while contributing more than $11 million to the town for community projects, and recently unveiled its new ESPN BET Sportsbook. Together, these anchors reinforce Perryville’s reputation as a destination. Regional employment is anchored by several major employers, including the Perry Point VA Medical Center with more than 2,500 employees and Aberdeen Proving Ground, which employs over 22,000 military and civilian staff. In addition, Cecil, Harford, and Havre de Grace have emerged as hubs for industrial and logistics tenants, attracting national brands such as Amazon, CLOROX, and Wayfair to more than 12 million square feet of newly developed warehouse and distribution space. This robust employment base continues to fuel strong housing demand across the region.

Residents also benefit from a vibrant mix of local restaurants and retail. Dining favorites include Johnny’s Sushi House, Guapos Tacos & Burros, and 5th Company Brewing, while everyday conveniences such as Food Lion, Walgreens, and Weis are close by. Outdoor recreation is abundant with Susquehanna State Park, Captain Lee’s Marina, and the surrounding Chesapeake Bay waterfront. With its strategic location, robust employment base, and diverse lifestyle and entertainment amenities, Perryville represents a stable and growing market for multifamily investment.

Major Employer Spotlight: Hollywood Casino

Located just 5 minutes from 201 Mansion Drive, Hollywood Casino Perryville opened in 2010 as Maryland’s first casino, transforming Perryville into an entertainment destination and providing a reliable stream of revenue for the town. Initially a slots-only facility, it has since expanded to include live table games and a newly branded ESPN BET Sportsbook, positioning itself to capitalize on Maryland’s growing sports betting market.

In 2020, Penn National Gaming (now PENN Entertainment) reacquired operations of the casino for $31.1 million, leasing the property from Gaming and Leisure Properties, Inc. The acquisition coincided with Maryland voters’ approval of legalized sports betting, and the property now serves as a key part of PENN’s omni-channel gaming platform, connecting retail operations with its ESPN BET online sportsbook. Over the past decade, the casino has averaged $75 million in annual gaming revenue, contributing approximately $1.3 million per year to Perryville, totaling nearly $11 million. These funds have financed major community projects, including a new police station, Department of Public Works facility, road paving, recreational fields, and critical sewer infrastructure upgrades.

Major Employer Spotlight: Great Wolf Lodge

Located just minutes from 201 Mansion Drive, Great Wolf Lodge Maryland opened in 2023 as the chain’s largest indoor water park and hotel. The $250 million project has transformed Perryville into a regional destination for family travel and recreation, drawing visitors from across the East Coast and generating significant economic impact for Cecil County. The resort offers 700 family-friendly suites, a 126,000-square-foot indoor water park, and extensive dining and entertainment venues. Its presence has helped put Perryville on the map, strengthening both the local economy and the town’s reputation as a destination for leisure and hospitality.

The MARC Penn line begins in Perryville and ends at Union Station in Washington, DC, stopping at Penn Station (Baltimore) in between. This provides residents of the property with seamless access to surrounding major metros.