Capitol Heights Warehouse For
For Sale
$895,000
232 Westhampton Avenue, Capitol Heights, MD 20743
4,200 SF warehouse/industrial property in Capitol Heights, Maryland.
Property Size4,200 SF
Price / SF$213.10
Days on Market273
Property Features for 232 Westhampton Avenue
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Industrial
Listing Agency:
KLNB - Columbia
(443) 574-1404
Listed By:
Alan Coppola
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Aug 20 at 5:48AM
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 KLNB - Columbia
Investment Insights
Based on property information with market context.
This property is a 4,200 square foot warehouse/industrial property. It is located in Capitol Heights, Maryland.
Key Highlights
- Sale Price: $895,000
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
$80,869
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
9.04%
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%
$1,617,380
$1.6M
Cap Rate 7%
$1,155,271
$1.2M
Cap Rate 9%
$898,544
$898.5K
Market Conditions
NOI Build-Up for 4,200 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
$108.4K $25.80/SF
− Vacancy
−$13.2K −$3.15/SF
EGI
$95.1K $22.65/SF
− OpEx
−$14.3K −$3.40/SF
NOI
$80.9K $19.25/SF
Area
Prince George's County, MD
Vacancy
12.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,617,380
Cap Rate 7%
$1,155,271
Cap Rate 9%
$898,544
Alternative Uses
Best Use
Warehouse
$1.16M
$1.01M – $1.35M
NOI $80,869 @ 7.0% cap · market cap 9.04%
Second Best
Industrial
$951.4K
$832.5K – $1.11M
NOI $66,598 @ 7.0% cap · market cap 7.44%
Theoretical Best
Specialty Retail
$1.35M
$1.19M – $1.58M
NOI $94,843 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20743, MD
40,709
Population
16,521
Households
2.5
Avg Household Size
38
Median Age
23%
College-Educated
86%
High-School Grad
9.6 sq mi
ZIP Area
4,241
Density / Sq Mi
$76,332
Median Household Income
$47,762
Median Earnings
$1,614
Median Rent
$317,100
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?
Warehouse - 4,200 SF warehouse/industrial property in Capitol Heights, Maryland.
Where is this warehouse located?
The property is located at 232 Westhampton Avenue Capitol Heights, MD.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Sale Price: $895,000
