Freestanding Building on Philadelphia
For Sale
$950,000
2203 Philadelphia Road, Edgewood, MD 21040
4,420 SF freestanding building in Edgewood, Maryland for sale.
Property Size4,420 SF
Lot Size0.30 Acres
Price / SF$214.93
Days on Market156
Property Features for 2203 Philadelphia Road
General Information
Standard status
Active
Size
4,420 SF
Lot size
0.30 Acres
Property subtype
Flex, Industrial
Zoning
B1
Building Details
Building Size
4,420 SF
Listed By:
Tom Mottley
(443) 573-3217
Source:
Mackenziecommercial
Added: Apr 3
Changed: Aug 14
Last Checked: Sep 5 at 3:36AM
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 Tom Mottley
Investment Insights
Based on property information with market context.
Located in Edgewood, Maryland, 2203 Philadelphia Road is a 4,420 square foot freestanding building available for sale. The property is zoned B1 and situated on a 0.30 acre lot. It offers visibility and direct access along Philadelphia Road, which experiences over 12,000 vehicles per day. This property presents a versatile owner-user opportunity suitable for various uses such as office, contractor, medical, or church. On-site parking is available, and there is potential for a drive-in door to be installed. The site offers flexibility for a range of commercial users in a well-traveled corridor.
Key Highlights
- 4,420 square foot ± freestanding building
- Strong visibility and direct access on Philadelphia Road (12,000+ vehicles per day)
- Zoned B1, suitable for office, contractor, medical, or church use
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
$59,711
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
6.29%
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%
$1,194,220
$1.2M
Cap Rate 7%
$853,014
$853.0K
Cap Rate 9%
$663,456
$663.5K
Market Conditions
NOI Build-Up for 4,420 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
$108.2K $24.48/SF
− Vacancy
−$16.3K −$3.70/SF
EGI
$91.9K $20.78/SF
− OpEx
−$32.2K −$7.27/SF
NOI
$59.7K $13.51/SF
Area
Harford County, MD
Vacancy
15.10%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,194,220
Cap Rate 7%
$853,014
Cap Rate 9%
$663,456
Alternative Uses
Best Use
Flex RnD
$853.0K
$746.4K – $995.2K
NOI $59,711 @ 7.0% cap · market cap 6.29%
Second Best
Industrial
$383.9K
$335.9K – $447.9K
NOI $26,871 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$1.56M
$1.36M – $1.81M
NOI $108,865 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21040, MD
25,138
Population
10,211
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
94%
High-School Grad
9.8 sq mi
ZIP Area
2,565
Density / Sq Mi
$86,925
Median Household Income
$48,528
Median Earnings
$1,420
Median Rent
$231,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 4,420 SF freestanding building in Edgewood, Maryland for sale.
Where is this flex space located?
The property is located at 2203 Philadelphia Road Edgewood, MD.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,420 square foot ± freestanding building; Strong visibility and direct access on Philadelphia Road (12,000+ vehicles per day); Zoned B1, suitable for office, contractor, medical, or church use
