Clear Spring Office/Medical
14 S Mill St, Clear Spring, MD 21722
For Sale
$299,000
Versatile 1,128 SF office/medical space in Clear Spring, MD.
Property Size1,128 SF
Lot Size0.17 Acres
Price / SF$265.07
Days on Market1124
Property Features for 14 S Mill St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES HOMESALE REALTY
(301) 745-1620
Listed By:
TAYLOR BOWEN · License #WV0028038
(301) 745-1623
Source:
Corcoran
Added: Oct 11, 2023
Changed: Aug 8
Last Checked: Aug 25 at 9:51AM
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 BERKSHIRE HATHAWAY HOMESERVICES HOMESALE REALTY
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 14 S Mill Street in Clear Spring, Maryland, this property offers 1,128 square feet of office or medical space. The building provides a versatile and conveniently located space suitable for various professional needs.
Key Highlights
- Prime office/medical space
- Conveniently located in Clear Spring, Maryland
- Versatile space suitable for professional needs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,553
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,060
$271.1K
Cap Rate 7%
$193,614
$193.6K
Cap Rate 9%
$150,589
$150.6K
Market Conditions
NOI Build-Up for 1,128 SF
Gross rent
$22.2K $19.68/SF
− Vacancy
−$4.1K −$3.66/SF
EGI
$18.1K $16.02/SF
− OpEx
−$4.5K −$4.00/SF
NOI
$13.6K $12.01/SF
Area
Washington County, MD
Vacancy
18.60%
Lease Rate
$19.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,060
Cap Rate 7%
$193,614
Cap Rate 9%
$150,589
Alternative Uses
Best Use
Office B
$193.6K
$169.4K – $225.9K
NOI $13,553 @ 7.0% cap · market cap 4.53%
Second Best
Healthcare Medical
$192.7K
$168.6K – $224.8K
NOI $13,486 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$250.2K
$218.9K – $291.9K
NOI $17,515 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21722, MD
5,674
Population
2,347
Households
2.4
Avg Household Size
44
Median Age
23%
College-Educated
93%
High-School Grad
56.9 sq mi
ZIP Area
100
Density / Sq Mi
$86,341
Median Household Income
$54,863
Median Earnings
$877
Median Rent
$298,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile 1,128 SF office/medical space in Clear Spring, MD.
Where is this medical office space located?
The property is located at 14 S Mill St Clear Spring, MD.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Prime office/medical space; Conveniently located in Clear Spring, Maryland; Versatile space suitable for professional needs
