Flex Warehouse with Drive-In
For Sale
Contact for pricing
7675 Canton Center Dr, Baltimore, MD 21224
Flex warehouse offering 7 drive-in bays plus 2-story office space and extensive fenced parking.
Property Size30,000 SF
Lot Size2.24 Acres
Price / SF$116.67
Days on Market691
Property Features for 7675 Canton Center Dr
General Information
Standard status
Active
Size
30,000 SF
Total Parking Spaces
127
Lot size
2.24 Acres
Property subtype
INDUSTRIAL
Additional Details
Fenced Yard
Yes
Drive-In Doors
7
Amenities
backup generator
22 vehicle charging outlets
Listing Agency:
CBRE | Baltimore
(410) 244-7100
Listed By:
L. "Alan" Grace
(410) 206-2992
Source:
Moodyscre
Added: Oct 24, 2024
Changed: Sep 6
Last Checked: Sep 13 at 6:26AM
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 CBRE | Baltimore
Investment Insights
Based on property information with market context.
This flex warehouse totals approximately 30,000 SF and includes a 7,000± SF two-story office component. The property sits on 2.24 acres, with about 1.70 acres enclosed by fencing, supporting operational flexibility and secured on-site staging. Vehicle access is enhanced by seven (7) drive-in bays.
On-site power is supported by an ample power setup with a Cummins backup generator. Parking totals 127± spaces, with 50± inside the fenced area and 77± outside. The fenced area also features 22± vehicle charging outlets.
For buyers seeking a combined warehouse and office configuration, the property’s secured yard, drive-in bays, and dedicated office footprint provide a practical layout for a range of light industrial and logistics-oriented uses.
On-site power is supported by an ample power setup with a Cummins backup generator. Parking totals 127± spaces, with 50± inside the fenced area and 77± outside. The fenced area also features 22± vehicle charging outlets.
For buyers seeking a combined warehouse and office configuration, the property’s secured yard, drive-in bays, and dedicated office footprint provide a practical layout for a range of light industrial and logistics-oriented uses.
Key Highlights
- 30,000 SF total with 7,000± SF 2‑story office
- 2.24 acres total, including 1.70± acres fenced
- Ample power plus Cummins back‑up generator
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
$279,864
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
8.00%
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%
$5,597,280
$5.6M
Cap Rate 7%
$3,998,057
$4.0M
Cap Rate 9%
$3,109,600
$3.1M
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
$468.0K $15.60/SF
− Vacancy
−$37.4K −$1.25/SF
EGI
$430.6K $14.35/SF
− OpEx
−$150.7K −$5.02/SF
NOI
$279.9K $9.33/SF
Area
ZIP 21224
Vacancy
8.00%
Lease Rate
$15.60 /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%
$5,597,280
Cap Rate 7%
$3,998,057
Cap Rate 9%
$3,109,600
Alternative Uses
Best Use
Flex RnD
$4.00M
$3.50M – $4.66M
NOI $279,864 @ 7.0% cap · market cap 8.00%
Second Best
Warehouse
$2.94M
$2.58M – $3.43M
NOI $206,046 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$7.19M
$6.29M – $8.39M
NOI $503,101 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse offering 7 drive-in bays plus 2-story office space and extensive fenced parking.
Where is this flex space located?
The property is located at 7675 Canton Center Dr Baltimore, MD.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 30,000 SF total with 7,000± SF 2‑story office; 2.24 acres total, including 1.70± acres fenced; Ample power plus Cummins back‑up generator
