Freestanding Office Building in Perry
For Sale
$495,000
3814 E Joppa Road, Nottingham, MD 21236
2,800 SF office building on 0.3 acres.
Property Size2,800 SF
Lot Size0.30 Acres
Price / SF$176.79
Days on Market156
Property Features for 3814 E Joppa Road
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.30 Acres
Property subtype
Office
Zoning
ROA (Residential Office)
Listing Agency:
MacKenzie Commercial Real Estate - Corporate
Listed By:
Chris Walsh
(410) 494-4857
Source:
Mackenziecommercial
Added: Apr 3
Changed: Aug 8
Last Checked: Sep 4 at 2:04AM
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 - Corporate
Investment Insights
Based on property information with market context.
The property at 3814 E. Joppa Road is a 2,800± SF freestanding office building situated on approximately 0.3 acres. It is located at a fully signalized intersection in Perry Hall. The property is zoned ROA (Residential Office), making it suitable for a variety of professional uses. It features a newly paved on-site parking lot. The building includes a finished lower-level office area with a full bathroom and a private exterior entrance. The location offers excellent accessibility to Route 1, I-695, and I-95. The surrounding area includes major retail and service destinations such as Perry Hall Crossing and Festival at Perry Hall, with nearby tenants including Aldi, Looney’s Pub, Goodwill, Weis Markets, and Mission BBQ.
Key Highlights
- Freestanding 2,800± SF office building at a fully signalized intersection.
- Newly paved on‑site parking lot.
- Finished lower‑level office with full bathroom and private exterior entrance.
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
$19,631
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
3.97%
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%
$392,620
$392.6K
Cap Rate 7%
$280,443
$280.4K
Cap Rate 9%
$218,122
$218.1K
Market Conditions
NOI Build-Up for 2,800 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
$31.9K $11.40/SF
− Vacancy
−$5.7K −$2.05/SF
EGI
$26.2K $9.35/SF
− OpEx
−$6.5K −$2.34/SF
NOI
$19.6K $7.01/SF
Area
Baltimore County, MD
Vacancy
18.00%
Lease Rate
$11.40 /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%
$392,620
Cap Rate 7%
$280,443
Cap Rate 9%
$218,122
Alternative Uses
Best Use
Office B
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$27.17M
$23.77M – $31.69M
NOI $1,901,586 @ 7.0% cap · market cap 384.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 21236, MD
40,555
Population
16,267
Households
2.5
Avg Household Size
39
Median Age
40%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
4,557
Density / Sq Mi
$92,130
Median Household Income
$56,457
Median Earnings
$1,591
Median Rent
$306,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 2,800 SF office building on 0.3 acres.
Where is this office building located?
The property is located at 3814 E Joppa Road Nottingham, MD.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Freestanding 2,800± SF office building at a fully signalized intersection.; Newly paved on‑site parking lot.; Finished lower‑level office with full bathroom and private exterior entrance.
