Building Details

Building Size 2,648 SF

Listing Agency: SVN | Miller Commercial Real Estate

Listed By: Ryan Finnegan · License #3487634 Show Phone

Source: Svn

Added: Mar 6 Changed: Sep 6 Last Checked: Oct 5 at 5:36PM

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Investment Insights

Based on property information with market context.

A 2,650 square foot medical condominium unit is available for sale within the Berlin Professional Center. The property is located just off Route 113 and Route 50, providing accessibility from multiple directions. Suite 402 features a large reception and waiting area, multiple private exam rooms and offices, and open work spaces. As a corner suite, it benefits from visibility and parking within a well-known medical and professional park. This property presents an opportunity for either a user or an investor seeking to expand or initiate their portfolio in Berlin, Maryland. The Berlin Professional Center is located on Franklin Avenue, with access from nearby Routes 113 and 50, as well as downtown Berlin.

Key Highlights

• 2650sf medical condo unit in Berlin Professional Center.
• Convenient location off Rt 113 and Rt 50.
• Corner suite with ample visibility and parking.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,063

Cap Rate

6.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$741,260 $741.3K

Cap Rate 7%

$529,471 $529.5K

Cap Rate 9%

$411,811 $411.8K

Market Conditions

NOI Build-Up for 2,650 SF

Gross rent

$58.8K $22.20/SF

− Vacancy

−$9.4K −$3.55/SF

EGI

$49.4K $18.65/SF

− OpEx

−$12.4K −$4.66/SF

NOI

$37.1K $13.99/SF

Area

Worcester County, MD

Vacancy

16.00%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$741,260

Cap Rate 7%

$529,471

Cap Rate 9%

$411,811

Alternative Uses

Best Use

Office B

$529.5K

$463.3K – $617.7K (±1% cap)

NOI $37,063 @ 7.0% cap · market cap 6.86%

Second Best

Healthcare Medical

$441.4K

$386.3K – $515.0K (±1% cap)

NOI $30,901 @ 7.0% cap · market cap 5.72%

Theoretical Best

Office A

$636.8K

$557.2K – $743.0K (±1% cap)

NOI $44,577 @ 7.0% cap · market cap 8.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Berlin Oral Surgery Dental Office Peninsula Regional Oncology ... Medical Clinic Grasso Joseph A MD Physician Chandrasekhara Kota L ... Physician Mark T. Edney, ... Physician

Suggested Use

Top Pick Building Supply Real Estate Agency Parking Lot & Garage Law Firm Furniture & Home Goods Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

801

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 21811, MD

23,907

Population

15,439

Households

1.5

Avg Household Size

52

Median Age

36%

College-Educated

94%

High-School Grad

101.5 sq mi

ZIP Area

236

Density / Sq Mi

$91,293

Median Household Income

$49,929

Median Earnings

$1,398

Median Rent

$362,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical condo unit for sale in established Berlin Professional Center.

Where is this medical office space located?

The property is located at 314 Franklin Avenue Berlin, MD.

What is the asking price?

The asking price for this property is $540,000.

What are key features of this property?

This property features: 2650sf medical condo unit in Berlin Professional Center.; Convenient location off Rt 113 and Rt 50.; Corner suite with ample visibility and parking.**