Building Details

Year Built 1950

Listing Agency: J&B REAL ESTATE e***@outlook.com Show Phone

Listed By: ERIN KELLY · License #004554

Source: Corcoran

Added: Apr 15, 2024 Changed: Aug 8 Last Checked: Aug 12 at 9:47AM

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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 J&B REAL ESTATE

Investment Insights

Based on property information with market context.

This renovated building, situated on almost an acre, is located near Carroll Manor Elementary School and the Green Hill Manor neighborhood. The property offers over 3,000 square feet of versatile space. The main floor includes four large rooms, a reception area, and three half-baths. The upper level is currently used as office space and storage. The lower level provides two additional large rooms and a bathroom. The property features ample parking, accessibility ramps, a generator, and a secure fenced-in area.

Key Highlights

• Prime location near Carroll Manor Elementary School and Green Hill Manor neighborhood.
• Over 3,000 square feet of versatile, renovated space.
• Almost an acre lot with ample parking and a secure fenced‑in area.

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

$54,962

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

5.52%

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%

$1,099,240 $1.1M

Cap Rate 7%

$785,171 $785.2K

Cap Rate 9%

$610,689 $610.7K

Market Conditions

NOI Build-Up for 3,000 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

$92.9K $30.96/SF

− Vacancy

−$19.6K −$6.53/SF

EGI

$73.3K $24.43/SF

− OpEx

−$18.3K −$6.11/SF

NOI

$55.0K $18.32/SF

Area

Frederick County, MD

Vacancy

21.10%

Lease Rate

$30.96 /SF/Yr

Expense Ratio

25.00%

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%

$1,099,240

Cap Rate 7%

$785,171

Cap Rate 9%

$610,689

Alternative Uses

Best Use

Office B

$785.2K

$687.0K – $916.0K (±1% cap)

NOI $54,962 @ 7.0% cap · market cap 5.52%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.11M

$972.7K – $1.30M (±1% cap)

NOI $77,815 @ 7.0% cap · market cap 7.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Creating Memories Children's ... Daycare Center

Suggested Use

Top Pick Real Estate Agency Restaurant Auto Parts Store HVAC Service Nail Salon Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Explore this area Business Placement

Demographics for 21710, MD

4,769

Population

1,748

Households

2.7

Avg Household Size

45

Median Age

53%

College-Educated

95%

High-School Grad

29.4 sq mi

ZIP Area

162

Density / Sq Mi

$164,727

Median Household Income

$72,650

Median Earnings

$2,391

Median Rent

$582,100

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Versatile renovated building with ample parking and accessibility features.

Where is this office units located?

The property is located at 5529 Adamstown Rd Adamstown, MD.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Prime location near Carroll Manor Elementary School and Green Hill Manor neighborhood.; Over 3,000 square feet of versatile, renovated space.; Almost an acre lot with ample parking and a secure fenced‑in area.