Hyatt Commercial Facilitates $650,000 Off-Market Sale of Former CVS

HOLLYWOOD, MD – March 24, 2026 – Hyatt Commercial Real Estate announces the sale of 24288 Three Notch Road in Hollywood, Maryland for $650,000. Nick Stellway, Vice President of Hyatt Commercial, represented the buyer, while Brandon Hanna of Encore Real Estate Investment Services represented the seller.

The property previously operated as a CVS pharmacy. The deal closed as an off-market sale, and the property never went to the open market.

The opportunity surfaced after CVS announced plans to close the store. However, contacting the property owner proved challenging at first because official notices went to CVS headquarters instead of the building’s ownership entity.

Through research and persistent outreach, Stellway located the property owner and began discussions about a potential sale. His market relationships also helped identify several qualified buyers early in the process.

The transaction remained under contract for nearly a year due to the deal’s structure. At the time, CVS still held a long-term lease on the property. The parties needed to terminate the lease before the sale could close.

Throughout the process, the brokerage team coordinated closely with the seller, CVS, and the buyer to align timelines and resolve lease termination logistics. The property ultimately closed as a vacant building, giving the new owner flexibility for future plans. Stellway is currently working with several prospective tenants as the new ownership evaluates potential uses for the property.

“This transaction required persistence and coordination among several parties,” said Stellway. “Because the property never reached the open market, it highlights the value of proactive outreach and strong relationships.”