Renovated NNN Retail
For Sale
$399,000
1805 JOPPA ROAD, Parkville, MD 21234
Single-tenant renovated retail building with tenant-paid expenses, parking, and added storage with second-floor and basement access.
Property Size1,440 SF
Price / SF$277.08
Days on Market34
Property Features for 1805 JOPPA ROAD
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Retail
Additional Details
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$3,828
Amenities
Central Air
3
Wood
No Parking.
1.00 x
Building Details
Year Built
1949
Listing Agency:
Cogent Properties LLC
(410) 929-5291
Listed By:
Pete Maheridis · License #645475
(410) 929-5291
Source:
Xome
Added: Jul 6
Changed: Aug 7
Last Checked: Aug 7 at 12:59AM
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 Cogent Properties LLC
Investment Insights
Based on property information with market context.
This renovated commercial retail property is offered on a tenant-in-place basis, with the tenant paying all related expenses. The building includes a new concrete pad and a new outdoor shed for additional storage. The second floor provides extra space for offices or storage, and there is also a basement that can be used for storage via a separate entrance.
Located at 1805 E Joppa Road in Parkville, the property sits on busy Joppa Road and offers plenty of parking for customers and staff.
The combination of main-level retail space, expanded second-floor utility, and a separate-entry basement storage area supports flexible day-to-day operations while maintaining a straightforward ownership structure through the NNN offering.
Located at 1805 E Joppa Road in Parkville, the property sits on busy Joppa Road and offers plenty of parking for customers and staff.
The combination of main-level retail space, expanded second-floor utility, and a separate-entry basement storage area supports flexible day-to-day operations while maintaining a straightforward ownership structure through the NNN offering.
Key Highlights
- Renovated single‑tenant commercial building on busy Joppa Road with NNN offering
- Tenant in place pays all related expenses for the property
- Central air cooling and wood flooring
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
$20,382
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
5.11%
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%
$407,640
$407.6K
Cap Rate 7%
$291,171
$291.2K
Cap Rate 9%
$226,467
$226.5K
Market Conditions
NOI Build-Up for 1,440 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
$31.1K $21.60/SF
− Vacancy
−$2.0K −$1.38/SF
EGI
$29.1K $20.22/SF
− OpEx
−$8.7K −$6.07/SF
NOI
$20.4K $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%
$407,640
Cap Rate 7%
$291,171
Cap Rate 9%
$226,467
Alternative Uses
Best Use
Retail
$291.2K
$254.8K – $339.7K
NOI $20,382 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$13.97M
$12.22M – $16.30M
NOI $977,958 @ 7.0% cap · market cap 245.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant renovated retail building with tenant-paid expenses, parking, and added storage with second-floor and basement access.
Where is this nnn property located?
The property is located at 1805 JOPPA ROAD Parkville, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Renovated single‑tenant commercial building on busy Joppa Road with NNN offering; Tenant in place pays all related expenses for the property; Central air cooling and wood flooring
