Industrial Property in Baltimore For
For Sale
$2,150,000
1900 Benhill Ave, Baltimore, MD 21226
Free-standing, Industrial property for sale in Baltimore, MD
Property Size18,798 SF
Lot Size0.70 Acres
Price / SF$114.37
Days on Market245
Property Features for 1900 Benhill Ave
General Information
Standard status
Active
Property type
Flex space, Industrial properties
Size
18,798 SF
Class
C
Lot size
0.70 Acres
Listing Agency:
Gold and Company, LLC.
(443) 928-7522
Listed By:
Jim · License #617251
(443) 928-7522
Added: Dec 19, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This industrial property, located in South Baltimore City, offers decent access to major highways. The property includes a free-standing building with a total area of approximately 18,798 square feet, situated on a 0.69-acre lot. The zoning is MI—Maritime Industrial—Baltimore City. There is a drive-in maintenance building of approximately 2,400 square feet. The property features drive-in doors and dock platform loading. Office space of approximately 1,500 square feet is available, including a locker area. The building is equipped with heavy power and interior cranes. Solar panels are installed on the main 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
$103,790
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
4.83%
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%
$2,075,800
$2.1M
Cap Rate 7%
$1,482,714
$1.5M
Cap Rate 9%
$1,153,222
$1.2M
Market Conditions
NOI Build-Up for 18,798 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
$157.9K $8.40/SF
− Vacancy
−$9.6K −$0.51/SF
EGI
$148.3K $7.89/SF
− OpEx
−$44.5K −$2.37/SF
NOI
$103.8K $5.52/SF
Area
Baltimore, MD
Vacancy
6.10%
Lease Rate
$8.40 /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%
$2,075,800
Cap Rate 7%
$1,482,714
Cap Rate 9%
$1,153,222
Alternative Uses
Best Use
Flex RnD
$2.91M
$2.54M – $3.39M
NOI $203,441 @ 7.0% cap · market cap 9.46%
Second Best
Industrial
$1.48M
$1.30M – $1.73M
NOI $103,790 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $315,243 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21226, MD
7,368
Population
3,093
Households
2.4
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
9.8 sq mi
ZIP Area
752
Density / Sq Mi
$79,712
Median Household Income
$52,750
Median Earnings
$1,338
Median Rent
$318,500
Median Home Value
Market
Vacancy Rate% for Industrial in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Free-standing, Industrial property for sale in Baltimore, MD
Where is this flex space located?
The property is located at 1900 Benhill Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $2,150,000.
