Freestanding Retail Property For
For Sale
$2,750,000
2101 Fallston Road, Fallston, MD 21047
10,032 SF retail property on 3.03 acres with drive-thru.
Property Size10,032 SF
Lot Size3.03 Acres
Price / SF$274.12
Days on Market156
Property Features for 2101 Fallston Road
General Information
Standard status
Active
Size
10,032 SF
Lot size
3.03 Acres
Property subtype
Retail
Zoning
B1 (Neighborhood Business Dist.)
Building Details
Building Size
10,032 SF
Listing Agency:
MacKenzie Commercial Real Estate - Corporate
Listed By:
Sean Langford
(443) 573-3218
Source:
Mackenziecommercial
Added: Apr 3
Changed: Sep 2
Last Checked: Sep 4 at 2:03AM
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 2101 Fallston Road is a 10,032± square foot freestanding retail building situated on 3.03± acres. Located at a signalized corner intersection, the property is currently occupied by Walgreens with a remaining lease term, providing stable income. The site includes an existing drive-thru and two on-site pylon signs. Ample parking is available, with approximately 50 spaces. The property offers accessibility with full ingress and egress on both Fallston Road and Pleasantville Road, providing high visibility.
Key Highlights
- Freestanding retail property occupied by Walgreens, providing stable income.
- Ideal signalized corner intersection location on 3.03± acres.
- Remaining lease term with existing drive‑thru.
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
$141,991
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
5.16%
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%
$2,839,820
$2.8M
Cap Rate 7%
$2,028,443
$2.0M
Cap Rate 9%
$1,577,678
$1.6M
Market Conditions
NOI Build-Up for 10,032 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
$216.7K $21.60/SF
− Vacancy
−$13.8K −$1.38/SF
EGI
$202.8K $20.22/SF
− OpEx
−$60.9K −$6.07/SF
NOI
$142.0K $14.15/SF
Area
Harford County, MD
Vacancy
6.39%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,839,820
Cap Rate 7%
$2,028,443
Cap Rate 9%
$1,577,678
Alternative Uses
Best Use
Retail
$2.03M
$1.77M – $2.37M
NOI $141,991 @ 7.0% cap · market cap 5.16%
Second Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $117,057 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,090 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
13,170 visits/mo
0.0 miles
Demographics for 21047, MD
12,876
Population
4,925
Households
2.6
Avg Household Size
47
Median Age
53%
College-Educated
98%
High-School Grad
22.5 sq mi
ZIP Area
572
Density / Sq Mi
$154,524
Median Household Income
$72,609
Median Earnings
$2,482
Median Rent
$516,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 2101 Fallston Rd, Fallston, MD 21047
- Adil M. Yousaf, RPh — 2026 Fallston Rd, Fallston, MD 21047
- COVID-19 Drive-Thru Testing at Walgreens — 2101 Fallston Rd, Fallston, MD 21047
Frequently Asked Questions
What type of property is this?
Drug store - 10,032 SF retail property on 3.03 acres with drive-thru.
Where is this drug store located?
The property is located at 2101 Fallston Road Fallston, MD.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Freestanding retail property occupied by Walgreens, providing stable income.; Ideal signalized corner intersection location on 3.03± acres.; Remaining lease term with existing drive‑thru.
