Listing Agency: Lee & Associates | Columbia Show Phone

Listed By: Bill Harrison Show Phone

Source: Moodyscre

Added: Apr 29, 2024 Changed: Oct 25 Last Checked: Oct 30 at 5:12PM

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Investment Insights

Based on property information with market context.

This prominent 71,700 SF medical office condo is located within the Medical Arts Building and is offered for sale (with leasing also referenced). The property is zoned CO, supporting medical office use within the existing condo configuration.

Situated at 7350 Van Dusen Rd in Laurel, MD, the offering is positioned near the University of Maryland Health Systems. The marketing materials also describe the surrounding area as home to prominent medical tenants, reinforcing the property’s fit for users seeking convenient access to a large regional healthcare network.

Key Highlights

• 71,700 SF medical office condo in the Medical Arts Building
• Zoned CO
• Located near University of Maryland Health Systems

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,304

Cap Rate

6.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,080 $446.1K

Cap Rate 7%

$318,629 $318.6K

Cap Rate 9%

$247,822 $247.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,460 SF

Gross rent

$35.9K $24.60/SF

− Vacancy

−$6.2K −$4.23/SF

EGI

$29.7K $20.37/SF

− OpEx

−$7.4K −$5.09/SF

NOI

$22.3K $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 Rate 5%

$446,080

Cap Rate 7%

$318,629

Cap Rate 9%

$247,822

Alternative Uses

Best Use

Office B

$318.6K

$278.8K – $371.7K (±1% cap)

NOI $22,304 @ 7.0% cap · market cap 6.79%

Second Best

Healthcare Medical

$250.6K

$219.3K – $292.4K (±1% cap)

NOI $17,541 @ 7.0% cap · market cap 5.34%

Theoretical Best

Specialty Retail

$471.0K

$412.1K – $549.5K (±1% cap)

NOI $32,969 @ 7.0% cap · market cap 10.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Laurel Radiology Services Medical Clinic Smile Loft Laurel Dental Office New, Used, and Rebuilt ... Auto Repair Shop Laurel Pharmacy Pharmacy Dr. Chandra Graham-Parker Physician

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Auto Repair Shop Big Box & Wholesale Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

642

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 20707, MD

37,702

Population

15,146

Households

2.5

Avg Household Size

37

Median Age

45%

College-Educated

89%

High-School Grad

12.6 sq mi

ZIP Area

2,992

Density / Sq Mi

$104,093

Median Household Income

$58,633

Median Earnings

$1,880

Median Rent

$411,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office condo in Medical Arts Building, zoned CO and positioned near University of Maryland Health Systems.

Where is this medical office space located?

The property is located at 7350 Van Dusen Rd Laurel, MD.

What is the asking price?

The asking price for this property is $328,500.

What are key features of this property?

This property features: 71,700 SF medical office condo in the Medical Arts Building; Zoned CO; Located near University of Maryland Health Systems