Retail Building with Paved
For Sale
$1,194,500
1041 Baltimore Blvd, Westminster, MD 21157
A retail-ready site with paved parking and C-2 zoning along Route 140 in Carroll County.
Property Size3,600 SF
Lot Size2.00 Acres
Price / SF$331.81
Days on Market690
Property Features for 1041 Baltimore Blvd
General Information
Standard status
Active
Size
3,600 SF
Lot size
2.00 Acres
Zoning
C-2
Taxes and HOA fees
Annual Taxes
$10,723
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 381-2585
Listed By:
Grace E. Cloutier · License #RSR004788
(443) 381-2585
Source:
Exprealty
Added: Oct 1, 2024
Changed: Aug 20
Last Checked: Aug 20 at 10:33AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
The property offers an option to commercially lease or purchase a retail site in Carroll County, featuring a 3,600 sq ft building and a paved parking lot on a parcel over 2 acres. The listing also notes billboard income, and the property is positioned for use under C-2 zoning, supporting a range of commercial purposes.
Situated on MD Route 140, the site is described as having strong Route 140 exposure within Carroll County and easy access to Baltimore County. This combination of roadway presence and regional access is intended to support a variety of commercial retail and service concepts.
For tenants, buyers, and operators, the paved parking and on-site building provide a straightforward platform for retail-oriented uses consistent with C-2 zoning. The listing highlights the billboard income component as an additional commercial feature. Seller finance is noted as a possibility, which may be relevant for qualified buyers exploring flexible financing terms.
Situated on MD Route 140, the site is described as having strong Route 140 exposure within Carroll County and easy access to Baltimore County. This combination of roadway presence and regional access is intended to support a variety of commercial retail and service concepts.
For tenants, buyers, and operators, the paved parking and on-site building provide a straightforward platform for retail-oriented uses consistent with C-2 zoning. The listing highlights the billboard income component as an additional commercial feature. Seller finance is noted as a possibility, which may be relevant for qualified buyers exploring flexible financing terms.
Key Highlights
- Over 2‑acre commercial site with strong exposure along MD Route 140 in Carroll County
- C‑2 zoning with potential for numerous commercial uses
- 3,600 SF building plus paved parking lot
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
$50,954
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
4.27%
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%
$1,019,080
$1.0M
Cap Rate 7%
$727,914
$727.9K
Cap Rate 9%
$566,156
$566.2K
Market Conditions
NOI Build-Up for 3,600 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
$77.8K $21.60/SF
− Vacancy
−$5.0K −$1.38/SF
EGI
$72.8K $20.22/SF
− OpEx
−$21.8K −$6.07/SF
NOI
$51.0K $14.15/SF
Area
Carroll 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%
$1,019,080
Cap Rate 7%
$727,914
Cap Rate 9%
$566,156
Alternative Uses
Best Use
Retail
$727.9K
$636.9K – $849.2K
NOI $50,954 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,455 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 96%
Shops & Services 4%
Tractor Supply Co.
Home Improvements & Furnishings
20,454 visits/mo
0.4 miles
Public Storage
Shops & Services
789 visits/mo
0.4 miles
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A retail-ready site with paved parking and C-2 zoning along Route 140 in Carroll County.
Where is this retail space located?
The property is located at 1041 Baltimore Blvd Westminster, MD.
What is the asking price?
The asking price for this property is $1,194,500.
What are key features of this property?
This property features: Over 2‑acre commercial site with strong exposure along MD Route 140 in Carroll County; C‑2 zoning with potential for numerous commercial uses; 3,600 SF building plus paved parking lot
