Flex Industrial
For Sale
$2,200,000
2001 Elgin Avenue Baltimore, Baltimore, MD 21217
For sale flex/industrial property totaling about 30,000 square feet in Baltimore, Maryland.
Property Size30,000 SF
Price / SF$73.33
Days on Market43
Property Features for 2001 Elgin Avenue Baltimore
General Information
Standard status
Active
Size
30,000 SF
Total Parking Spaces
40
Zoning
I-MU
Taxes and HOA fees
Annual Taxes
$18,897
Amenities
Natural Gas
Yes
Other
No
Public
C
1.69
Assessor
Parking Lot
20
37330.00
110400.00
4
40
Building Details
Year Built
1981
Listing Agency:
(866) 825-7169
Listed By:
Rodney Nicholson
(866) 825-7169
Source:
Va.exprealty
Added: Jul 3
Changed: Aug 14
Last Checked: Aug 14 at 8:17AM
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 Rodney Nicholson
Investment Insights
Based on property information with market context.
This for-sale flex industrial property includes warehouse and office-style space, offering a versatile layout suited to mixed operations. The asset totals approximately 30,000 square feet and is listed as flex space, industrial properties, and other warehouse/office configurations within the commercial real estate category.
The property is located at 2001 Elgin Avenue in Baltimore, Maryland (21217). As presented, it provides one combined offering that blends industrial and office space under a single ownership opportunity.
The listing information does not specify additional site details such as unit configuration, office buildout, or loading features, so interested parties should review the available materials for exact interior and functional characteristics.
The property is located at 2001 Elgin Avenue in Baltimore, Maryland (21217). As presented, it provides one combined offering that blends industrial and office space under a single ownership opportunity.
The listing information does not specify additional site details such as unit configuration, office buildout, or loading features, so interested parties should review the available materials for exact interior and functional characteristics.
Key Highlights
- Flex/industrial property with 37,330 SF total building area
- Built in 1981
- 1.69‑acre lot (per Assessor) with public water service
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
$197,578
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
8.98%
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%
$3,951,560
$4.0M
Cap Rate 7%
$2,822,543
$2.8M
Cap Rate 9%
$2,195,311
$2.2M
Market Conditions
NOI Build-Up for 30,000 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
$252.0K $8.40/SF
− Vacancy
−$19.6K −$0.65/SF
EGI
$232.4K $7.75/SF
− OpEx
−$34.9K −$1.16/SF
NOI
$197.6K $6.59/SF
Area
Baltimore, MD
Vacancy
7.76%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$3,951,560
Cap Rate 7%
$2,822,543
Cap Rate 9%
$2,195,311
Alternative Uses
Best Use
Office B
$5.96M
$5.21M – $6.95M
NOI $417,083 @ 7.0% cap · market cap 18.96%
Second Best
Flex RnD
$4.64M
$4.06M – $5.41M
NOI $324,675 @ 7.0% cap · market cap 14.76%
Theoretical Best
Office A
$7.19M
$6.29M – $8.39M
NOI $503,101 @ 7.0% cap · market cap 22.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - For sale flex/industrial property totaling about 30,000 square feet in Baltimore, Maryland.
Where is this flex space located?
The property is located at 2001 Elgin Avenue Baltimore Baltimore, MD.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Flex/industrial property with 37,330 SF total building area; Built in 1981; 1.69‑acre lot (per Assessor) with public water service
