Listing Agency: KLNB - Baltimore Show Phone

Listed By: Joseph "Joe" Nolan Show Phone

Source: Moodyscre

Added: Nov 2, 2023 Changed: Oct 9 Last Checked: Oct 14 at 11:42PM

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Investment Insights

Based on property information with market context.

This freestanding flex property contains 18,162 square feet of office and warehouse space on a 0.84-acre parcel. The building includes a paved, fenced outdoor yard and warehouse access through a drive-in loading entrance. A portion of the office area could be reconfigured for additional warehouse capacity, with potential for two more docks.

Located at 3701 Malden Ave, the property is approximately a one-minute drive from the Woodberry transit stop. I-1 zoning supports its current commercial configuration. An owner occupant may also consider leasing back a portion of the building after a sale.

Key Highlights

• 18,162 square feet of building area per SDAT
• 0.84‑acre parcel with paved, fenced outdoor yard
• Warehouse space with drive‑in loading access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,614

Cap Rate

8.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,392,280 $2.4M

Cap Rate 7%

$1,708,771 $1.7M

Cap Rate 9%

$1,329,044 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,162 SF

Gross rent

$152.6K $8.40/SF

− Vacancy

−$11.8K −$0.65/SF

EGI

$140.7K $7.75/SF

− OpEx

−$21.1K −$1.16/SF

NOI

$119.6K $6.59/SF

Area

Baltimore, MD

Vacancy

7.76%

Lease Rate

$8.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,392,280

Cap Rate 7%

$1,708,771

Cap Rate 9%

$1,329,044

Alternative Uses

Best Use

Office B

$3.61M

$3.16M – $4.21M (±1% cap)

NOI $252,502 @ 7.0% cap · market cap 17.41%

Second Best

Flex RnD

$2.81M

$2.46M – $3.28M (±1% cap)

NOI $196,558 @ 7.0% cap · market cap 13.56%

Theoretical Best

Office A

$4.35M

$3.81M – $5.08M (±1% cap)

NOI $304,578 @ 7.0% cap · market cap 21.01%

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

Property Analytics

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Current Use

Jack Christopher Custom ... (Bike/Boat/Book/etc) Store Christopher Custom Clothing (Bike/Boat/Book/etc) Store Fata Marketing & Advertising

Suggested Use

Top Pick Dental Office HVAC Service Accounting Firm Electrical Service Parking Lot & Garage Skin Care Clinic

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

724

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 21211, MD

17,721

Population

9,056

Households

2

Avg Household Size

37

Median Age

61%

College-Educated

93%

High-School Grad

2.9 sq mi

ZIP Area

6,111

Density / Sq Mi

$81,467

Median Household Income

$64,019

Median Earnings

$1,577

Median Rent

$274,000

Median Home Value

Market

Vacancy Rate% for Office in Baltimore, MD

12.4% 2019

13.1% 2020

13% 2021

14.5% 2022

17.1% 2023

16.3% 2024

17.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - I-1-zoned commercial building combining office areas, warehouse space, drive-in loading, and a secured outdoor yard.

Where is this flex space located?

The property is located at 3701 Malden Ave Baltimore, MD.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: 18,162 square feet of building area per SDAT; 0.84‑acre parcel with paved, fenced outdoor yard; Warehouse space with drive‑in loading access