Professional Office
For Sale
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2981 Solomons Island Rd, Edgewater, MD 21037
C3-zoned commercial condominium offering an office-oriented setting and immediate occupancy.
Property Size1,824 SF
Price / SF$235.75
Days on Market41
Property Features for 2981 Solomons Island Rd
General Information
Standard status
Active
Size
1,824 SF
Property subtype
Office, Retail
Zoning
C3 (General or Heavy Commercial)
Listing Agency:
Friend Commercial Real Estate
(410) 507-2918
Listed By:
Lisa Poremski · License #5019054
Source:
Crexi
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 30 at 3:20PM
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 Friend Commercial Real Estate
Investment Insights
Based on property information with market context.
This professional office condominium contains 1,824 square feet and is configured for office or retail use. The property carries C3 zoning, identified as General or Heavy Commercial, and offers immediate occupancy.
Located at 2981 Solomons Island Road in Edgewater, Maryland, the property fronts Route 2 in a highly visible commercial setting. The listing identifies medical and service-based businesses among the potential applications for the space.
Located at 2981 Solomons Island Road in Edgewater, Maryland, the property fronts Route 2 in a highly visible commercial setting. The listing identifies medical and service-based businesses among the potential applications for the space.
Key Highlights
- 1,824‑square‑foot office condominium
- C3 zoning: General or Heavy Commercial
- Office or retail condominium format
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
$25,817
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%
$516,340
$516.3K
Cap Rate 7%
$368,814
$368.8K
Cap Rate 9%
$286,856
$286.9K
Market Conditions
NOI Build-Up for 1,824 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
$39.4K $21.60/SF
− Vacancy
−$2.5K −$1.38/SF
EGI
$36.9K $20.22/SF
− OpEx
−$11.1K −$6.07/SF
NOI
$25.8K $14.15/SF
Area
Anne Arundel County, MD
Vacancy
6.39%
Lease Rate
$21.60 /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%
$516,340
Cap Rate 7%
$368,814
Cap Rate 9%
$286,856
Alternative Uses
Best Use
Retail
$368.8K
$322.7K – $430.3K
NOI $25,817 @ 7.0% cap · market cap 6.00%
Second Best
Office B
$182.7K
$159.9K – $213.1K
NOI $12,788 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$533.6K
$466.9K – $622.5K
NOI $37,350 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 21037, MD
21,453
Population
8,652
Households
2.5
Avg Household Size
42
Median Age
46%
College-Educated
95%
High-School Grad
16.8 sq mi
ZIP Area
1,277
Density / Sq Mi
$135,541
Median Household Income
$71,396
Median Earnings
$2,276
Median Rent
$530,900
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 - C3-zoned commercial condominium offering an office-oriented setting and immediate occupancy.
Where is this office units located?
The property is located at 2981 Solomons Island Rd Edgewater, MD.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 1,824‑square‑foot office condominium; C3 zoning: General or Heavy Commercial; Office or retail condominium format
