Occupied Office
For Sale
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2213 McElderry Street, Baltimore, MD 21205
Baltimore office property leased to Johns Hopkins University through 2031, with proximity to a major hospital campus.
Property Size31,752 SF
Price / SF$305.71
Days on Market56
Property Features for 2213 McElderry Street
General Information
Standard status
Active
Size
31,752 SF
Class
B
Property subtype
Office
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$679,512
Site & Location
Neighborhood
Care
Building Details
Year Built
2006
Tenancy
Single
Listing Agency:
CBRE - Healthcare Capital Markets
Listed By:
Jaime Jones Vantsa · License #100103493
Source:
Crexi
Added: Aug 31
Changed: Oct 13
Last Checked: Oct 24 at 5:15PM
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 CBRE - Healthcare Capital Markets
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Investment Insights
Based on property information with market context.
The 31,752-square-foot office building at 2213 McElderry Street in Baltimore was completed in 2006 and is fully occupied by Johns Hopkins University’s Bloomberg School of Public Health. A newly executed lease extension continues occupancy through 2031, providing a defined term for the property’s existing tenancy.
The building is within walking distance of one of the area’s leading hospital campuses. The property information also identifies significant capital investment and potential economic and tax incentives associated with the asset.
The building is within walking distance of one of the area’s leading hospital campuses. The property information also identifies significant capital investment and potential economic and tax incentives associated with the asset.
Key Highlights
- 31,752‑square‑foot office building
- 100% occupied by Johns Hopkins University’s Bloomberg School of Public Health
- Newly executed 5‑year lease extension through 2031
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$441,440
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,828,800
$8.8M
Cap Rate 7%
$6,306,286
$6.3M
Cap Rate 9%
$4,904,889
$4.9M
Market Conditions
NOI Build-Up for 31,752 SF
Gross rent
$704.9K $22.20/SF
− Vacancy
−$116.3K −$3.66/SF
EGI
$588.6K $18.54/SF
− OpEx
−$147.1K −$4.63/SF
NOI
$441.4K $13.90/SF
Area
Baltimore, MD
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,828,800
Cap Rate 7%
$6,306,286
Cap Rate 9%
$4,904,889
Alternative Uses
Best Use
Office B
$6.31M
$5.52M – $7.36M
NOI $441,440 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.61M
$6.66M – $8.87M
NOI $532,483 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,531
Businesses Nearby
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Business Placement
Demographics for 21205, MD
14,691
Population
6,502
Households
2.3
Avg Household Size
34
Median Age
16%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
6,996
Density / Sq Mi
$38,723
Median Household Income
$36,735
Median Earnings
$1,052
Median Rent
$94,900
Median Home Value
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Market
Vacancy Rate% for Office in Baltimore, MD
Frequently Asked Questions
What type of property is this?
Office building - Baltimore office property leased to Johns Hopkins University through 2031, with proximity to a major hospital campus.
Where is this office building located?
The property is located at 2213 McElderry Street Baltimore, MD.
What is the asking price?
The asking price for this property is $9,707,000.
What are key features of this property?
This property features: 31,752‑square‑foot office building; 100% occupied by Johns Hopkins University’s Bloomberg School of Public Health; Newly executed 5‑year lease extension through 2031
