Industrial Flex Property with
For Sale
$625,000
703-705A PHILADELPHIA Rd, Joppa, MD 21085
Zoned C-1 and improved with two buildings plus expansive yard on two parcels conveyed together.
Property Size3,214 SF
Lot Size2.61 Acres
Price / SF$194.46
Days on Market127
Property Features for 703-705A PHILADELPHIA Rd
General Information
Standard status
Active
Size
3,214 SF
Lot size
2.61 Acres
Property subtype
Industrial
Zoning
C-1
Additional Details
Highway Access
Yes
Building Details
Year Built
1939
Listing Agency:
Keller Williams Gateway LLC
(410) 960-0858
Listed By:
Jason S Lusby · License #597833
(410) 960-0858
Source:
Elliman
Added: Apr 27
Changed: Jul 21
Last Checked: Aug 14 at 7:42AM
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 Keller Williams Gateway LLC
Investment Insights
Based on property information with market context.
Industrial flex property zoned C-1 (Commercial Industrial) featuring two buildings and expansive yard space. The sale includes two tax parcels to be conveyed together: 703 Philadelphia Rd and 705-A Philadelphia Rd. The buildings total 3,214± square feet, and the site includes significant contiguous industrial land that may support additional outdoor parking and outdoor storage, and may offer room for future building expansion. The majority of the site is cleared. Building condition is described as average to below average, and the property is sold strictly AS-IS.
Access is described as convenient to Mountain Road, Pulaski Highway (US-40), I-95, and Joppa Road. The site is served by one active septic/holding system associated with 705-A, with a second system likely requiring overhaul, replacement, or alternative technology depending on intended use (703). Buyer should verify all information with the state and county regarding zoning, environmental, and intended or contemplated use, as the seller makes no representations or warranties as to condition or usability.
Access is described as convenient to Mountain Road, Pulaski Highway (US-40), I-95, and Joppa Road. The site is served by one active septic/holding system associated with 705-A, with a second system likely requiring overhaul, replacement, or alternative technology depending on intended use (703). Buyer should verify all information with the state and county regarding zoning, environmental, and intended or contemplated use, as the seller makes no representations or warranties as to condition or usability.
Key Highlights
- Industrial flex property zoned C‑1 (Commercial Industrial) with two buildings and expansive yard space.
- Two tax parcels conveyed together: 1301100947 (703 Philadelphia Rd.) and 1301103504 (705‑A Philadelphia Rd.), totaling approx. 2.61 acres.
- Combined building size of 3,214± SF (two buildings) on the 2.61‑acre site.
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
$43,419
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
6.95%
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%
$868,380
$868.4K
Cap Rate 7%
$620,271
$620.3K
Cap Rate 9%
$482,433
$482.4K
Market Conditions
NOI Build-Up for 3,214 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
$78.7K $24.48/SF
− Vacancy
−$11.9K −$3.70/SF
EGI
$66.8K $20.78/SF
− OpEx
−$23.4K −$7.27/SF
NOI
$43.4K $13.51/SF
Area
Harford County, MD
Vacancy
15.10%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
35.00%
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%
$868,380
Cap Rate 7%
$620,271
Cap Rate 9%
$482,433
Alternative Uses
Best Use
Flex RnD
$620.3K
$542.7K – $723.7K
NOI $43,419 @ 7.0% cap · market cap 6.95%
Second Best
Industrial
$279.1K
$244.3K – $325.7K
NOI $19,540 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.13M
$989.5K – $1.32M
NOI $79,161 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21085, MD
17,142
Population
7,073
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
19.0 sq mi
ZIP Area
902
Density / Sq Mi
$107,975
Median Household Income
$63,132
Median Earnings
$1,593
Median Rent
$327,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Zoned C-1 and improved with two buildings plus expansive yard on two parcels conveyed together.
Where is this flex space located?
The property is located at 703-705A PHILADELPHIA Rd Joppa, MD.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Industrial flex property zoned C‑1 (Commercial Industrial) with two buildings and expansive yard space.; Two tax parcels conveyed together: 1301100947 (703 Philadelphia Rd.) and 1301103504 (705‑A Philadelphia Rd.), totaling approx. 2.61 acres.; Combined building size of 3,214± SF (two buildings) on the 2.61‑acre site.
