Medical Office Building with On-Site
For Sale
$2,770,052
1421 South Caton Avenue, Baltimore, MD 21230
Located along S Caton Avenue near Interstate 95 with parking for patients and staff.
Property Size13,780 SF
Lot Size1.50 Acres
Price / SF$201.02
Days on Market194
Property Features for 1421 South Caton Avenue
General Information
Standard status
Active
Size
13,780 SF
Class
B
Lot size
1.50 Acres
Property subtype
Medical/Healthcare
Additional Details
Highway Access
Yes
Building Details
Building Size
13,780 SF
Listing Agency:
Lee & Associates | Chesapeake Region, LLC
(443) 741-4045
Listed By:
Bill Harrison
(443) 741-4045
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 5:32PM
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 Lee & Associates | Chesapeake Region, LLC
Investment Insights
Based on property information with market context.
This medical office property contains 13,780 square feet within a building positioned on a 1.5-acre site. On-site parking serves both patients and staff, supporting healthcare operations and visitor access.
The property is directly off Interstate 95 and fronts S Caton Avenue, where reported traffic exceeds 43,000 vehicles per day. Its location provides access to downtown Baltimore and the surrounding region. Ascension Saint Agnes Hospital, a regional medical facility with 190 staffed beds, is nearby.
The property is directly off Interstate 95 and fronts S Caton Avenue, where reported traffic exceeds 43,000 vehicles per day. Its location provides access to downtown Baltimore and the surrounding region. Ascension Saint Agnes Hospital, a regional medical facility with 190 staffed beds, is nearby.
Key Highlights
- 13,780 square feet of medical office space
- Situated on a 1.5‑acre site
- Directly off Interstate 95 along S Caton Avenue
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
$199,722
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
7.21%
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%
$3,994,440
$4.0M
Cap Rate 7%
$2,853,171
$2.9M
Cap Rate 9%
$2,219,133
$2.2M
Market Conditions
NOI Build-Up for 13,780 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
$363.8K $26.40/SF
− Vacancy
−$30.9K −$2.24/SF
EGI
$332.9K $24.16/SF
− OpEx
−$133.1K −$9.66/SF
NOI
$199.7K $14.49/SF
Area
Baltimore, MD
Vacancy
8.50%
Lease Rate
$26.40 /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%
$3,994,440
Cap Rate 7%
$2,853,171
Cap Rate 9%
$2,219,133
Alternative Uses
Best Use
Healthcare Medical
$2.85M
$2.50M – $3.33M
NOI $199,722 @ 7.0% cap · market cap 7.21%
Second Best
Office B
$2.74M
$2.39M – $3.19M
NOI $191,580 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,091 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
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?
Medical Office Space - Located along S Caton Avenue near Interstate 95 with parking for patients and staff.
Where is this medical office space located?
The property is located at 1421 South Caton Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $2,770,052.
What are key features of this property?
This property features: 13,780 square feet of medical office space; Situated on a 1.5‑acre site; Directly off Interstate 95 along S Caton Avenue
