Jessup Flex Condo
For Sale
$1,165,000
1-2-8017 Dorsey Run Rd, Jessup, MD 20794
6500 sq ft flex condo in Jessup area.
Property Size6,500 SF
Price / SF$179.23
Days on Market102
Property Features for 1-2-8017 Dorsey Run Rd
General Information
Standard status
Active
Size
6,500 SF
Taxes and HOA fees
Annual Taxes
$6,997
Listing Agency:
Fathom Realty MD, LLC
(443) 324-3280
Listed By:
Gennady Fayer · License #588934
(443) 324-3280
Source:
Exprealty
Added: May 13
Changed: Aug 20
Last Checked: Aug 21 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fathom Realty MD, LLC
Investment Insights
Based on property information with market context.
This property features two units with two bays, totaling approximately 6500 sq ft. The space can be separated if desired. Currently, the layout includes multiple offices, bathrooms, a kitchenette, and open warehouse space. This configuration makes it suitable for an owner-user or investor. It presents a rare opportunity to acquire a sizable flex condo property in the Jessup area, offering flexibility for immediate use and long-term investment. There is a possibility for the current tenant to remain for up to two more years. The owner believes the property is also Skiffable.
Key Highlights
- Sizable flex condo property (approx. 6500 sq ft) suitable for owner‑user or investor.
- Two units with two bays, offering potential for separation.
- Features multiple offices, bathrooms, kitchenette, and open warehouse space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$97,547
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,950,940
$2.0M
Cap Rate 7%
$1,393,529
$1.4M
Cap Rate 9%
$1,083,856
$1.1M
Market Conditions
NOI Build-Up for 6,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$156.0K $24.00/SF
− Vacancy
−$5.9K −$0.91/SF
EGI
$150.1K $23.09/SF
− OpEx
−$52.5K −$8.08/SF
NOI
$97.5K $15.01/SF
Area
Howard County, MD
Vacancy
3.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,950,940
Cap Rate 7%
$1,393,529
Cap Rate 9%
$1,083,856
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.22M – $1.63M
NOI $97,547 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$1.06M
$926.5K – $1.24M
NOI $74,120 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,738 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20794, MD
16,658
Population
4,230
Households
3.9
Avg Household Size
37
Median Age
29%
College-Educated
82%
High-School Grad
9.6 sq mi
ZIP Area
1,735
Density / Sq Mi
$105,441
Median Household Income
$55,191
Median Earnings
$1,940
Median Rent
$393,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 6500 sq ft flex condo in Jessup area.
Where is this flex space located?
The property is located at 1-2-8017 Dorsey Run Rd Jessup, MD.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Sizable flex condo property (approx. 6500 sq ft) suitable for owner‑user or investor.; Two units with two bays, offering potential for separation.; Features multiple offices, bathrooms, kitchenette, and open warehouse space.
