Building Details

Building Size 4,420 SF

Listed By: Tom Mottley Show Phone

Source: Mackenziecommercial

Added: Apr 3 Changed: Oct 16 Last Checked: Oct 20 at 5:06PM

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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

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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 / Yr

$59,711

Cap Rate

6.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,194,220 $1.2M

Cap Rate 7%

$853,014 $853.0K

Cap Rate 9%

$663,456 $663.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,420 SF

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 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 (±1% cap)

NOI $59,711 @ 7.0% cap · market cap 6.29%

Second Best

Industrial

$383.9K

$335.9K – $447.9K (±1% cap)

NOI $26,871 @ 7.0% cap · market cap 2.83%

Theoretical Best

Office A

$1.56M

$1.36M – $1.81M (±1% cap)

NOI $108,865 @ 7.0% cap · market cap 11.46%

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

Property Analytics

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Current Use

Global Healthcare Systems Medical Clinic Temitayo Olaniyi Physician

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Bakery Garden Center (Bike/Boat/Book/etc) 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

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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