Two-Story Medical Office
For Sale
$3,000,000
4700 Erie Street, College Park, MD 20740
Two-story, fully sprinklered building with existing exam rooms, private offices, and a large indoor atrium on Route 1 frontage.
Property Size6,810 SF
Lot Size1.25 Acres
Price / SF$440.53
Days on Market98
Property Features for 4700 Erie Street
General Information
Standard status
Active
Size
6,810 SF
Lot size
1.25 Acres
Property subtype
Office
Zoning
NAC
Additional Details
Sprinkler System
Yes
Amenities
large indoor atrium
Building Details
Building Size
6,810 SF
Stories
2
Listing Agency:
(301) 605-3846
Listed By:
James Miers
Source:
Naiglobal
Added: May 17
Changed: Aug 10
Last Checked: Aug 22 at 4:44AM
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 James Miers
Investment Insights
Based on property information with market context.
4700 Erie Street is a two-story medical office building totaling 6,810± square feet on a 1.25-acre parcel. The property has a long-term history as a health clinic, with an existing layout that includes exam rooms and private offices, plus a large indoor atrium. The building is fully sprinklered.
The site offers prominent Route 1 frontage at the intersection with Erie Street and includes an on-site parking lot of 0.3± acres. The property is zoned NAC (Neighborhood Activity Center), with suitability noted for continued medical use or conversion to other professional or institutional uses permitted under NAC zoning.
As presented, the configuration supports healthcare operations and also provides a usable base for professional or institutional redevelopment consistent with the zoning guidance.
The site offers prominent Route 1 frontage at the intersection with Erie Street and includes an on-site parking lot of 0.3± acres. The property is zoned NAC (Neighborhood Activity Center), with suitability noted for continued medical use or conversion to other professional or institutional uses permitted under NAC zoning.
As presented, the configuration supports healthcare operations and also provides a usable base for professional or institutional redevelopment consistent with the zoning guidance.
Key Highlights
- 6,810± SF two‑story building on a 1.25‑acre parcel in College Park, MD
- NAC zoning (Neighborhood Activity Center) with suitability for continued medical use or other permitted professional/institutional uses
- Existing exam rooms and private offices, previously used as a health clinic for ~15 years
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
$104,034
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
3.47%
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%
$2,080,680
$2.1M
Cap Rate 7%
$1,486,200
$1.5M
Cap Rate 9%
$1,155,933
$1.2M
Market Conditions
NOI Build-Up for 6,810 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
$167.5K $24.60/SF
− Vacancy
−$28.8K −$4.23/SF
EGI
$138.7K $20.37/SF
− OpEx
−$34.7K −$5.09/SF
NOI
$104.0K $15.28/SF
Area
Prince George's County, MD
Vacancy
17.20%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,080,680
Cap Rate 7%
$1,486,200
Cap Rate 9%
$1,155,933
Alternative Uses
Best Use
Office B
$1.49M
$1.30M – $1.73M
NOI $104,034 @ 7.0% cap · market cap 3.47%
Second Best
Healthcare Medical
$1.17M
$1.02M – $1.36M
NOI $81,820 @ 7.0% cap · market cap 2.73%
Theoretical Best
Specialty Retail
$2.20M
$1.92M – $2.56M
NOI $153,781 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20740, MD
36,930
Population
13,079
Households
2.8
Avg Household Size
27
Median Age
49%
College-Educated
86%
High-School Grad
8.8 sq mi
ZIP Area
4,197
Density / Sq Mi
$81,359
Median Household Income
$29,270
Median Earnings
$1,788
Median Rent
$417,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story, fully sprinklered building with existing exam rooms, private offices, and a large indoor atrium on Route 1 frontage.
Where is this medical office space located?
The property is located at 4700 Erie Street College Park, MD.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 6,810± SF two‑story building on a 1.25‑acre parcel in College Park, MD; NAC zoning (Neighborhood Activity Center) with suitability for continued medical use or other permitted professional/institutional uses; Existing exam rooms and private offices, previously used as a health clinic for ~15 years
