Medical Office
251 Lewis Lane Unit 102, Havre de Grace, MD 21078
For Sale
Contact for pricing
The first-floor unit is divided into two suites, with one configured for medical practice use.
Property Size27,000 SF
Price / SF$155.60
Days on Market12
Property Features for 251 Lewis Lane Unit 102
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Office Units
Tenant in Place
Property Use
Medical Specialty
Building Details
Buildings
Building Size
Listing Agency:
Trout Daniel & Associates
Listed By:
Timothy Hearn · License MD #70274
(410) 458-3494
Source:
Crexi
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 5:31PM
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 Trout Daniel & Associates
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Investment Insights
Based on property information with market context.
This 4,338-square-foot condominium occupies the first floor of a 27,000-square-foot medical center and is arranged as two suites. One suite is occupied by a long-term tenant. The other includes multiple examination rooms, a waiting area, administrative space, a break room, and two restrooms.
The vacant suite was previously used by an orthopedic practice and is available for lease. The property is at 251 Lewis Lane in Havre de Grace, Maryland.
The vacant suite was previously used by an orthopedic practice and is available for lease. The property is at 251 Lewis Lane in Havre de Grace, Maryland.
Key Highlights
- 4,338‑square‑foot first‑floor condominium within a 27,000‑square‑foot medical center
- Two suites, including one occupied by a long‑term tenant
- Second suite has multiple exam rooms, a waiting room, admin area, break room, and two restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,124
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,242,480
$1.2M
Cap Rate 7%
$887,486
$887.5K
Cap Rate 9%
$690,267
$690.3K
Market Conditions
NOI Build-Up for 4,338 SF
Gross rent
$106.2K $24.48/SF
− Vacancy
−$23.4K −$5.39/SF
EGI
$82.8K $19.09/SF
− OpEx
−$20.7K −$4.77/SF
NOI
$62.1K $14.32/SF
Area
Harford County, MD
Vacancy
22.00%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,242,480
Cap Rate 7%
$887,486
Cap Rate 9%
$690,267
Alternative Uses
Best Use
Office B
$887.5K
$776.6K – $1.04M
NOI $62,124 @ 7.0% cap · market cap 9.20%
Second Best
Healthcare Medical
$772.8K
$676.2K – $901.6K
NOI $54,095 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,846 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 21078, MD
20,321
Population
8,760
Households
2.3
Avg Household Size
46
Median Age
41%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
675
Density / Sq Mi
$109,451
Median Household Income
$53,942
Median Earnings
$1,331
Median Rent
$355,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The first-floor unit is divided into two suites, with one configured for medical practice use.
Where is this medical office space located?
The property is located at 251 Lewis Lane Unit 102 Havre de Grace, MD.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4,338‑square‑foot first‑floor condominium within a 27,000‑square‑foot medical center; Two suites, including one occupied by a long‑term tenant; Second suite has multiple exam rooms, a waiting room, admin area, break room, and two restrooms
