Listing Agency: Gold and Company, LLC.

Listed By: Jim Chivers · License #MD 617251 Show Phone

Source: Crexi

Added: Oct 10, 2024 Changed: Oct 4 Last Checked: Oct 20 at 6:51PM

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Investment Insights

Based on property information with market context.

This industrial property, located in Baltimore, MD, offers 19,000 square feet of space. The property is suitable for industrial use.

Key Highlights

• Industrial Property
• 19,000 SqFt

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,905

Cap Rate

6.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,098,100 $2.1M

Cap Rate 7%

$1,498,643 $1.5M

Cap Rate 9%

$1,165,611 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,000 SF

Gross rent

$159.6K $8.40/SF

− Vacancy

−$9.7K −$0.51/SF

EGI

$149.9K $7.89/SF

− OpEx

−$45.0K −$2.37/SF

NOI

$104.9K $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 Rate 5%

$2,098,100

Cap Rate 7%

$1,498,643

Cap Rate 9%

$1,165,611

Alternative Uses

Best Use

Industrial

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,905 @ 7.0% cap · market cap 6.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.55M

$3.98M – $5.31M (±1% cap)

NOI $318,631 @ 7.0% cap · market cap 21.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Hydratec General Contractor

Suggested Use

Top Pick Restaurant Law Firm Building Supply Hair Salon Pharmacy Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

234

Businesses Nearby

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

6.4% 2019

5.9% 2020

2.6% 2021

3% 2022

3% 2023

7.6% 2024

8.8% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial property featuring 19,000 SqFt of space in Baltimore, MD.

Where is this industrial property located?

The property is located at 1900 Benhill Ave Baltimore, MD.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: Industrial Property; 19,000 SqFt