Neighborhood Retail Strip
For Sale
$1,590,000
Pending
8035 Harford, Parkville, MD 21234
Three-unit strip center with newly renovated and well-maintained spaces, abundant lighted pylon signage, and two parking lots.
Property Size6,100 SF
Days on Market847
Property Features for 8035 Harford
General Information
Standard status
Pending
Size
6,100 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$9,515
Amenities
lighted pylon signage
bus stop nearby
Central Air
3
BM
Parking.
Lot.
1.00 x
Side Yard, Landscaped. Close To Shops, Other, Central Business District.
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
Keller Williams Gateway LLC
(443) 318-8800
Listed By:
Jason Lusby · License #597833
(410) 960-0858
Source:
Xome
Added: May 12, 2024
Changed: Sep 1
Last Checked: Sep 5 at 3:35AM
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.
This 3-unit neighborhood retail strip center features a mix of newly renovated and very well-maintained spaces. The offering includes an owner-occupied 3,100 sf unit that can be delivered vacant for an owner-user, creating flexibility for a purchaser who wants to occupy one portion while leasing the remainder.
The property is served by two parking lots with abundant parking and includes lighted pylon signage facing both directions on Harford Rd, where a bus stop is nearby.
Showings are by appointment only with 24 hours advance notice on business days. A financial breakdown is available with NDA.
The property is served by two parking lots with abundant parking and includes lighted pylon signage facing both directions on Harford Rd, where a bus stop is nearby.
Showings are by appointment only with 24 hours advance notice on business days. A financial breakdown is available with NDA.
Key Highlights
- 3‑unit neighborhood retail strip center with a mix of newly renovated and well‑maintained spaces
- 3,100 SF unit is owner occupied and can be delivered vacant for an owner‑user
- Lighted pylon signage facing both directions on heavily trafficked Harford Rd, with a bus stop nearby
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
$86,338
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
5.43%
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%
$1,726,760
$1.7M
Cap Rate 7%
$1,233,400
$1.2M
Cap Rate 9%
$959,311
$959.3K
Market Conditions
NOI Build-Up for 6,100 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
$131.8K $21.60/SF
− Vacancy
−$8.4K −$1.38/SF
EGI
$123.3K $20.22/SF
− OpEx
−$37.0K −$6.07/SF
NOI
$86.3K $14.15/SF
Area
Baltimore 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%
$1,726,760
Cap Rate 7%
$1,233,400
Cap Rate 9%
$959,311
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.44M
NOI $86,338 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$59.18M
$51.78M – $69.05M
NOI $4,142,740 @ 7.0% cap · market cap 260.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
928
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
M&T Bank
Shops & Services
8,117 visits/mo
0.5 miles
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
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.
Frequently Asked Questions
What type of property is this?
Strip mall - Three-unit strip center with newly renovated and well-maintained spaces, abundant lighted pylon signage, and two parking lots.
Where is this strip mall located?
The property is located at 8035 Harford Parkville, MD.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 3‑unit neighborhood retail strip center with a mix of newly renovated and well‑maintained spaces; 3,100 SF unit is owner occupied and can be delivered vacant for an owner‑user; Lighted pylon signage facing both directions on heavily trafficked Harford Rd, with a bus stop nearby
