Fully Occupied Investment
For Sale
$3,500,000
2904 Back Acre Cir, Mount Airy, MD 21771
15,866 SF building with 100% occupancy in Twin Arch.
Property Size15,866 SF
Price / SF$220.60
Days on Market194
Property Features for 2904 Back Acre Cir
General Information
Standard status
Active
Size
15,866 SF
Total Parking Spaces
27
Zoning
INDUSTRIAL
Taxes and HOA fees
Annual Taxes
$23,599
Amenities
Electric
Building Details
Building Size
15,866 SF
Year Built
2003
Stories
2
Listing Agency:
Coldwell Banker Realty
(240) 674-3937
Listed By:
Jody Bell · License #MD657917
(240) 674-3937
Source:
Evrealestate
Added: Feb 11
Changed: Aug 23
Last Checked: Aug 24 at 3:50AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located in Twin Arch Business Park, 2904 Back Acre Circle is a 15,866 square foot building constructed in 2003. The property contains eight units and is currently 100% occupied. Suited for industrial and office showroom use, the property is located in a prime industrial zone. This turnkey investment offers stability and rental income.
Key Highlights
- 100% Occupancy: Provides immediate and stable rental income.
- Turnkey Investment: Ready for immediate ownership.
- Prime Industrial Zone Location: Situated in a desirable and thriving business park.
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
$122,564
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
3.50%
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%
$2,451,280
$2.5M
Cap Rate 7%
$1,750,914
$1.8M
Cap Rate 9%
$1,361,822
$1.4M
Market Conditions
NOI Build-Up for 15,866 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
$186.3K $11.74/SF
− Vacancy
−$11.2K −$0.70/SF
EGI
$175.1K $11.04/SF
− OpEx
−$52.5K −$3.31/SF
NOI
$122.6K $7.72/SF
Area
Frederick County, MD
Vacancy
6.00%
Lease Rate
$11.74 /SF/Yr
Expense Ratio
30.00%
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%
$2,451,280
Cap Rate 7%
$1,750,914
Cap Rate 9%
$1,361,822
Alternative Uses
Best Use
Industrial
$1.75M
$1.53M – $2.04M
NOI $122,564 @ 7.0% cap · market cap 3.50%
Second Best
Flex RnD
$1.51M
$1.32M – $1.76M
NOI $105,860 @ 7.0% cap · market cap 3.02%
Theoretical Best
Specialty Retail
$5.88M
$5.14M – $6.86M
NOI $411,538 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21771, MD
30,697
Population
11,401
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
95%
High-School Grad
89.5 sq mi
ZIP Area
343
Density / Sq Mi
$154,844
Median Household Income
$70,011
Median Earnings
$2,117
Median Rent
$532,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - 15,866 SF building with 100% occupancy in Twin Arch.
Where is this flex space located?
The property is located at 2904 Back Acre Cir Mount Airy, MD.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate and stable rental income.; Turnkey Investment: Ready for immediate ownership.; Prime Industrial Zone Location: Situated in a desirable and thriving business park.
