Retail Redevelopment Site with Road
For Sale
$1,490,000
2101 Bel Air Road, Fallston, MD 21047
Tenant-occupied retail building on a level lot with 173 feet of road frontage, plus additional vacant units.
Property Size5,934 SF
Lot Size0.93 Acres
Price / SF$251.10
Days on Market1256
Property Features for 2101 Bel Air Road
General Information
Standard status
Active
Size
5,934 SF
Lot size
0.93 Acres
Property subtype
Commercial
Zoning
CI
Lease Term
[]
Site & Location
Traffic Count
30,000 vehicles/day
Road Access
Yes
Building Details
Year Built
1978
Listing Agency:
MJL Realty LLC
Listed By:
James P Leyh · License #530717
(410) 804-7520
Source:
Deepcreeklake
Added: Mar 30, 2023
Changed: Sep 4
Last Checked: Sep 4 at 10:15AM
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 MJL Realty LLC
Investment Insights
Based on property information with market context.
The property is an existing retail building set on a level lot, offering a redevelopment option for buyers looking to utilize the current structure or raise it for new development. The current building contains 5,934 square feet and is tenant occupied in short-term leases, with approximately $3,100 per month in income. In addition to the occupied space, there are three other vacant units that could be leased at the purchaser’s discretion, depending on approvals.
Located on highly traveled Bel Air Rd in a highly developed area in the Heart of Fallston, the site has 173 feet of road frontage and extends 235 feet deep. The property is described as being within CI Zoning.
The combination of tenant-occupied income, vacant units, and substantial road frontage supports multiple redevelopment and leasing approaches, subject to permitting and the purchaser’s plans.
Located on highly traveled Bel Air Rd in a highly developed area in the Heart of Fallston, the site has 173 feet of road frontage and extends 235 feet deep. The property is described as being within CI Zoning.
The combination of tenant-occupied income, vacant units, and substantial road frontage supports multiple redevelopment and leasing approaches, subject to permitting and the purchaser’s plans.
Key Highlights
- 0.93‑acre level lot on highly traveled Bel Air Rd with 173 ft road frontage and 235 ft depth
- CI‑zoned redevelopment site in a developed area in the Heart of Fallston
- Existing tenant‑occupied retail building with 5,934 SF (built in 1978)
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
$83,989
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
5.64%
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%
$1,679,780
$1.7M
Cap Rate 7%
$1,199,843
$1.2M
Cap Rate 9%
$933,211
$933.2K
Market Conditions
NOI Build-Up for 5,934 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
$128.2K $21.60/SF
− Vacancy
−$8.2K −$1.38/SF
EGI
$120.0K $20.22/SF
− OpEx
−$36.0K −$6.07/SF
NOI
$84.0K $14.15/SF
Area
Harford 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%
$1,679,780
Cap Rate 7%
$1,199,843
Cap Rate 9%
$933,211
Alternative Uses
Best Use
Retail
$1.20M
$1.05M – $1.40M
NOI $83,989 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,155 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
311k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Superstores 36%
Home Improvements & Furnishings 15%
Shops & Services 10%
Walmart
Superstores
111,989 visits/mo
0.3 miles
Texas Roadhouse
Dining
27,280 visits/mo
0.5 miles
McDonald's
Dining
26,036 visits/mo
0.5 miles
Harvest Fare Ace
Home Improvements & Furnishings
25,332 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
22,628 visits/mo
0.5 miles
Demographics for 21047, MD
12,876
Population
4,925
Households
2.6
Avg Household Size
47
Median Age
53%
College-Educated
98%
High-School Grad
22.5 sq mi
ZIP Area
572
Density / Sq Mi
$154,524
Median Household Income
$72,609
Median Earnings
$2,482
Median Rent
$516,700
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?
Strip mall - Tenant-occupied retail building on a level lot with 173 feet of road frontage, plus additional vacant units.
Where is this strip mall located?
The property is located at 2101 Bel Air Road Fallston, MD.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 0.93‑acre level lot on highly traveled Bel Air Rd with 173 ft road frontage and 235 ft depth; CI‑zoned redevelopment site in a developed area in the Heart of Fallston; Existing tenant‑occupied retail building with 5,934 SF (built in 1978)
