Freestanding Flex Building with
For Sale
Contact for pricing
3701 Malden Ave, Baltimore, MD 21211
I-1-zoned commercial building combining office areas, warehouse space, drive-in loading, and a secured outdoor yard.
Property Size18,162 SF
Price / SF$79.84
Days on Market1034
Property Features for 3701 Malden Ave
General Information
Standard status
Active
Size
18,162 SF
Property subtype
INDUSTRIAL
Listing Agency:
KLNB - Baltimore
(443) 632-2065
Listed By:
Joseph "Joe" Nolan
Source:
Moodyscre
Added: Nov 2, 2023
Changed: Aug 30
Last Checked: Aug 30 at 10:09PM
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 KLNB - Baltimore
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.
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 = 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
$119,614
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
8.25%
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%
$2,392,280
$2.4M
Cap Rate 7%
$1,708,771
$1.7M
Cap Rate 9%
$1,329,044
$1.3M
Market Conditions
NOI Build-Up for 18,162 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
$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 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%
$2,392,280
Cap Rate 7%
$1,708,771
Cap Rate 9%
$1,329,044
Alternative Uses
Best Use
Office B
$3.61M
$3.16M – $4.21M
NOI $252,502 @ 7.0% cap · market cap 17.41%
Second Best
Flex RnD
$2.81M
$2.46M – $3.28M
NOI $196,558 @ 7.0% cap · market cap 13.56%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,578 @ 7.0% cap · market cap 21.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
