Turnkey Medical Office
For Sale
Contact for pricing
133 Defense Hwy, Annapolis, MD 21401
Well-appointed medical office condo includes exam rooms with sinks and turnkey interior readiness for immediate use.
Property Size1,353 SF
Price / SF$350
Days on Market1328
Property Features for 133 Defense Hwy
General Information
Standard status
Active
Size
1,353 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Douglas Commercial
(301) 655-8253
Listed By:
Scott Douglas · License #580592
Source:
Moodyscre
Added: Jan 24, 2023
Changed: Sep 9
Last Checked: Sep 13 at 9:37AM
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 Douglas Commercial
Investment Insights
Based on property information with market context.
Turnkey, well-appointed medical office condo that is described as well maintained with professional management. The space includes exam rooms with sinks, supporting clinical exam and patient visit workflows.
The property is located close to shops and restaurants and provides quick access to US-50 and I-97.
Offered for sale as an office condo unit configured for medical office use, with exam-ready improvements already in place.
The property is located close to shops and restaurants and provides quick access to US-50 and I-97.
Offered for sale as an office condo unit configured for medical office use, with exam-ready improvements already in place.
Key Highlights
- Well‑appointed medical office condo with turnkey interior readiness for immediate use
- Includes exam rooms with sinks
- Quick access to US‑50 and I‑97
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
$19,617
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
4.14%
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%
$392,340
$392.3K
Cap Rate 7%
$280,243
$280.2K
Cap Rate 9%
$217,967
$218.0K
Market Conditions
NOI Build-Up for 1,353 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
$36.5K $27.00/SF
− Vacancy
−$3.8K −$2.84/SF
EGI
$32.7K $24.17/SF
− OpEx
−$13.1K −$9.67/SF
NOI
$19.6K $14.50/SF
Area
Anne Arundel County, MD
Vacancy
10.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$392,340
Cap Rate 7%
$280,243
Cap Rate 9%
$217,967
Alternative Uses
Best Use
Healthcare Medical
$280.2K
$245.2K – $327.0K
NOI $19,617 @ 7.0% cap · market cap 4.14%
Second Best
Office B
$135.5K
$118.6K – $158.1K
NOI $9,486 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$395.8K
$346.3K – $461.8K
NOI $27,705 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,140
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21401, MD
39,308
Population
19,293
Households
2
Avg Household Size
44
Median Age
61%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
1,975
Density / Sq Mi
$119,296
Median Household Income
$67,845
Median Earnings
$2,106
Median Rent
$580,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Petco Vaccination Clinic — 2319 Forest Dr D, Annapolis, MD 21401
- Petco Veterinary Services — 2319 Forest Dr D, Annapolis, MD 21401
- Dr. Bernstein Vetinarian Dematologist — 197 MD-450, Annapolis, MD 21401
- Eye Care for Animals - Annapolis Defense Hwy — 197 Defense Hwy Suite 101, Annapolis, MD 21401
- Banfield Pet Hospital — 2601 Housley Rd, Annapolis, MD 21401
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-appointed medical office condo includes exam rooms with sinks and turnkey interior readiness for immediate use.
Where is this medical office space located?
The property is located at 133 Defense Hwy Annapolis, MD.
What is the asking price?
The asking price for this property is $473,550.
What are key features of this property?
This property features: Well‑appointed medical office condo with turnkey interior readiness for immediate use; Includes exam rooms with sinks; Quick access to US‑50 and I‑97
