Medical Office Space For
251 LEWIS Ln 102 Havre de Grace, MD 21078
251 LEWIS Ln 102, Havre de Grace, MD, 21078
$725,000
For Sale
$725,000
Medical office space available within Havre de Grace Medical Center.
Property Size4,338 SF
Price / SF$167.13
Days on Market134
Property Features for 251 LEWIS Ln 102
General Information
- Standard status
- Active
- Size
- 4,338 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2008
Listing agency
EXP Realty, LLC
(410) 688-4042
Listed by
Reed J Stupalski · License #611586
(410) 688-4042
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 12:23PM Checked: Jul 21 at 8:46AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Available for sale is a 4,338 square foot medical office space located on the main level of Havre de Grace Medical Center. Public records identify the space as Unit 102, though it is physically labeled on-site as Units 103 and 104. The suite is currently configured as two separate spaces. One side is set up as a medical office, and the other is leased to a physical therapy provider with a 5 year lease in place at a fixed $24 per sq ft. Features include multiple private offices, reception areas, restrooms, kitchenettes, laundry areas, and open workspaces. The building offers level main entry, elevator access, and free surface parking.
Key Highlights
- Located in Havre de Grace Medical Center.
- 4,338 sq ft of medical office space.
- Existing lease provides income at $24 per sq ft.
Local Financial Insights For Healthcare Medical
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 | $106.2k | $24.48 |
| − Vacancy | −$16.0k | −$3.70 |
| EGI | $90.2k | $20.78 |
| − OpEx | −$36.1k | −$8.31 |
| NOI | $54.1k | $12.47 |
4,338 SF · lease $24.48/SF/yr · vacancy 15.10% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$772.8K
$676.2K – $901.6K
NOI $54,095 @ 7.0% cap · market cap 7.46%
Second Best
Office B
$434.5K
$380.2K – $506.9K
NOI $30,414 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,846 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Health Care for Children
Physician
Deep Sleep
Medical Clinic
Sankar J. Kausik, ...
Physician
Union Medical Clinic
Medical Clinic
Dr. Hi-Sup Sim, ...
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Medical office space available within Havre de Grace Medical Center.
Where is this medical office space located?
The property is located at 251 LEWIS Ln 102 Havre de Grace, MD.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Located in Havre de Grace Medical Center.; 4,338 sq ft of medical office space.; Existing lease provides income at $24 per sq ft.
