Second-Floor Office
For Sale
Contact for pricing
11042 NICHOLAS LANE #B203, Berlin, MD 21811
Second-floor office suite with four offices, a bathroom, and a copy/tech room; currently rented with 30-day tenant notice.
Property Size880 SF
Price / SF$1.70
Days on Market102
Property Features for 11042 NICHOLAS LANE #B203
General Information
Standard status
Active
Size
880 SF
Property subtype
Commercial
Lease Type
NNN
Additional Details
Lease Term
60 months
Building Details
Year Built
1998
Listing Agency:
Keller Williams Realty
(302) 360-0300
Listed By:
Walter D. Taraila · License #RB-0020563
(410) 726-2454
Source:
Cummingsrealtors
Added: Jul 21
Changed: Oct 29
Last Checked: Oct 28 at 8:13AM
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 Keller Williams Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This second-floor office suite is laid out with four offices, one bathroom, and a copy/tech room. The space is presently rented, with the tenant able to be out with 30 days notice, and lease terms are available from 1 to 5 years.
The tenant is responsible for rent along with utilities, insurance, and the water/sewer fee.
The tenant is responsible for rent along with utilities, insurance, and the water/sewer fee.
Key Highlights
- 1998‑built property with second‑floor office space currently rented
- Tenant can be out with 30 days notice
- Office suite layout includes four offices and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,308
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,160
$246.2K
Cap Rate 7%
$175,829
$175.8K
Cap Rate 9%
$136,756
$136.8K
Market Conditions
NOI Build-Up for 880 SF
Gross rent
$19.5K $22.20/SF
− Vacancy
−$3.1K −$3.55/SF
EGI
$16.4K $18.65/SF
− OpEx
−$4.1K −$4.66/SF
NOI
$12.3K $13.99/SF
Area
Worcester County, MD
Vacancy
16.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,160
Cap Rate 7%
$175,829
Cap Rate 9%
$136,756
Alternative Uses
Best Use
Office B
$175.8K
$153.9K – $205.1K
NOI $12,308 @ 7.0% cap · market cap 820.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$211.5K
$185.0K – $246.7K
NOI $14,803 @ 7.0% cap · market cap 986.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 21811, MD
23,907
Population
15,439
Households
1.5
Avg Household Size
52
Median Age
36%
College-Educated
94%
High-School Grad
101.5 sq mi
ZIP Area
236
Density / Sq Mi
$91,293
Median Household Income
$49,929
Median Earnings
$1,398
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor office suite with four offices, a bathroom, and a copy/tech room; currently rented with 30-day tenant notice.
Where is this office unit located?
The property is located at 11042 NICHOLAS LANE #B203 Berlin, MD.
What are key features of this property?
This property features: 1998‑built property with second‑floor office space currently rented; Tenant can be out with 30 days notice; Office suite layout includes four offices and one bathroom
