Retail Shopping
For Sale
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1510 REISTERSTOWN RD, Pikesville, MD 21208
For sale retail property with a stated 7.25% cap rate.
Property Size24,741 SF
Price / SF$397.72
Days on Market130
Property Features for 1510 REISTERSTOWN RD
General Information
Standard status
Active
Size
24,741 SF
Property subtype
Retail
Net Operating Income
$713,096
Additional Details
Cap Rate
7.25%
Building Details
Year Built
1982
Year Renovated
2013
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners - Global Company
Listed By:
Andrew Fallon · License #PA RSR006585
(202) 286-1542
Source:
Crexi
Added: May 8
Changed: Sep 13
Last Checked: Sep 14 at 5:54AM
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 SRS Real Estate Partners - Global Company
Investment Insights
Based on property information with market context.
This is a for-sale retail shopping center totaling 24,741 square feet, with public remarks indicating a 7.25% cap rate. The property is listed for $9,840,000.
The asset is located at 1510 Reisterstown Rd in Pikesville, Maryland.
The asset is located at 1510 Reisterstown Rd in Pikesville, Maryland.
Key Highlights
- Retail property built in 1982
- Stated 7.25% cap rate
- 24,741 SF building
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
$350,180
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
3.56%
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%
$7,003,600
$7.0M
Cap Rate 7%
$5,002,571
$5.0M
Cap Rate 9%
$3,890,889
$3.9M
Market Conditions
NOI Build-Up for 24,741 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
$534.4K $21.60/SF
− Vacancy
−$34.1K −$1.38/SF
EGI
$500.3K $20.22/SF
− OpEx
−$150.1K −$6.07/SF
NOI
$350.2K $14.15/SF
Area
Baltimore County, MD
Vacancy
6.39%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$7,003,600
Cap Rate 7%
$5,002,571
Cap Rate 9%
$3,890,889
Alternative Uses
Best Use
Retail
$5.00M
$4.38M – $5.84M
NOI $350,180 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$240.04M
$210.03M – $280.04M
NOI $16,802,546 @ 7.0% cap · market cap 170.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,937
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21208, MD
35,007
Population
16,397
Households
2.1
Avg Household Size
46
Median Age
49%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,778
Density / Sq Mi
$90,822
Median Household Income
$55,620
Median Earnings
$1,672
Median Rent
$313,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - For sale retail property with a stated 7.25% cap rate.
Where is this shopping center located?
The property is located at 1510 REISTERSTOWN RD Pikesville, MD.
What is the asking price?
The asking price for this property is $9,840,000.
What are key features of this property?
This property features: Retail property built in 1982; Stated 7.25% cap rate; 24,741 SF building
