Two-Level Office
New
For Sale
$200,000
2411 CROFTON LANE #27, Crofton, MD 21114
Office condominium with private rooms, reception areas, storage, bathrooms, and interior stairs connecting both floors.
Property Size1,712 SF
Price / SF$116.82
Days on Market6
Property Features for 2411 CROFTON LANE #27
General Information
Standard status
Active
Size
1,712 SF
Property subtype
Commercial
Building Details
Year Built
1980
Listing Agency:
ExecuHome Realty
(888) 801-1123
Listed By:
Martin Tippet · License #637002
(888) 801-1123
Source:
Cummingsrealtors
Added: Aug 16
Changed: Aug 21
Last Checked: Aug 21 at 8:46AM
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 ExecuHome Realty
Investment Insights
Based on property information with market context.
This two-level office condominium is located within the Chelsea House complex and was built in 1980. The interior includes multiple private offices, waiting and reception areas, two bathrooms, storage rooms, separate electrical rooms on each floor, and an internal stairway. The configuration can support one or two office units under a single ownership structure, subject to applicable requirements.
The property carries C2 commercial office zoning and has shared surface parking. It is positioned in Crofton with access to Route 3 and Route 50, connecting the property with Annapolis, Bowie, Fort Meade, Baltimore, and Washington-area employment centers. Interior water damage has occurred, and the condominium requires restoration. The sale is strictly as-is; permitted uses, condominium requirements, utilities, financing eligibility, and renovation scope should be independently verified.
The property carries C2 commercial office zoning and has shared surface parking. It is positioned in Crofton with access to Route 3 and Route 50, connecting the property with Annapolis, Bowie, Fort Meade, Baltimore, and Washington-area employment centers. Interior water damage has occurred, and the condominium requires restoration. The sale is strictly as-is; permitted uses, condominium requirements, utilities, financing eligibility, and renovation scope should be independently verified.
Key Highlights
- Two‑level office condominium in the Chelsea House complex
- C2 commercial office zoning
- Multiple private offices with waiting and reception areas
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
$12,003
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
6.00%
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%
$240,060
$240.1K
Cap Rate 7%
$171,471
$171.5K
Cap Rate 9%
$133,367
$133.4K
Market Conditions
NOI Build-Up for 1,712 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
$19.5K $11.40/SF
− Vacancy
−$3.5K −$2.05/SF
EGI
$16.0K $9.35/SF
− OpEx
−$4.0K −$2.34/SF
NOI
$12.0K $7.01/SF
Area
Anne Arundel County, MD
Vacancy
18.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
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%
$240,060
Cap Rate 7%
$171,471
Cap Rate 9%
$133,367
Alternative Uses
Best Use
Office B
$171.5K
$150.0K – $200.1K
NOI $12,003 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.8K
$438.2K – $584.3K
NOI $35,056 @ 7.0% cap · market cap 17.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 21114, MD
26,404
Population
9,675
Households
2.7
Avg Household Size
37
Median Age
60%
College-Educated
97%
High-School Grad
5.8 sq mi
ZIP Area
4,552
Density / Sq Mi
$136,250
Median Household Income
$75,568
Median Earnings
$2,128
Median Rent
$479,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condominium with private rooms, reception areas, storage, bathrooms, and interior stairs connecting both floors.
Where is this office units located?
The property is located at 2411 CROFTON LANE #27 Crofton, MD.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑level office condominium in the Chelsea House complex; C2 commercial office zoning; Multiple private offices with waiting and reception areas
