Medical Office Park
120 Speer Rd Chestertown, MD 21620
For Sale
Contact for pricing
Two single-story medical office buildings in a three-unit park, offering former medical layouts with exam rooms and x-ray spaces.
Property Size9,604 SF
Price / SF$130.15
Days on Market149
Property Features for 120 Speer Rd
General Information
Standard status
Active
Size
9,604 SF
Property subtype
OFFICE
Listing Agency:
MacKenzie Commercial Real Estate | Annapolis
(410) 953-0366
Listed By:
David McClatchy
Source:
Moodyscre
Added: Mar 2
Changed: Jul 26
Last Checked: Jul 28 at 3:53PM
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 MacKenzie Commercial Real Estate | Annapolis
Investment Insights
Based on property information with market context.
Two single-story buildings totaling approximately 9,604 SF make up a three-unit medical office park. One building is fully occupied, while the other contains two available units, providing up to 5,432 SF of former medical space for an owner-user.
The interior configurations include patient waiting areas, offices, exam rooms, full baths and restrooms, laboratories, nurses’ stations, kitchenette and break rooms, and x-ray rooms with leaded walls.
This property is set up for medical practice use, with multiple treatment and support components already built into the layouts of the available suites.
The interior configurations include patient waiting areas, offices, exam rooms, full baths and restrooms, laboratories, nurses’ stations, kitchenette and break rooms, and x-ray rooms with leaded walls.
This property is set up for medical practice use, with multiple treatment and support components already built into the layouts of the available suites.
Key Highlights
- Two single‑story medical office buildings totaling approximately 9,604 SF in a three‑unit medical office park in Chestertown, MD
- Up to 5,432 SF of former medical space available, including exam rooms and x‑ray spaces
- One building is fully occupied; the second building offers two available units for a total three‑unit setup
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.5k | $11.40 |
| − Vacancy | −$19.7k | −$2.05 |
| EGI | $89.8k | $9.35 |
| − OpEx | −$22.4k | −$2.34 |
| NOI | $67.3k | $7.01 |
9,604 SF · lease $11.40/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Healthcare Medical
$1.96M
$1.71M – $2.28M
NOI $136,915 @ 7.0% cap · market cap 10.95%
Second Best
Office B
$961.9K
$841.7K – $1.12M
NOI $67,334 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $161,060 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- High Street Veterinary Practice — 841 High St, Chestertown, MD 21620
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two single-story medical office buildings in a three-unit park, offering former medical layouts with exam rooms and x-ray spaces.
Where is this medical office space located?
The property is located at 120 Speer Rd Chestertown, MD.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two single‑story medical office buildings totaling approximately 9,604 SF in a three‑unit medical office park in Chestertown, MD; Up to 5,432 SF of former medical space available, including exam rooms and x‑ray spaces; One building is fully occupied; the second building offers two available units for a total three‑unit setup
