Leased Office Unit For
For Sale
$115,000
3219 CORPORATE COURT Unit 10B, Ellicott City, MD 21042
Leased office unit with recent renovations and ample parking.
Property Size1,308 SF
Days on Market140
Property Features for 3219 CORPORATE COURT Unit 10B
General Information
Standard status
Active
Size
1,308 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$1,513
Building Details
Building Size
1,308 SF
Year Built
1987
Listing Agency:
Samson Properties
(202) 369-1355
Listed By:
John M Burgess · License #506800
(202) 369-1355
Source:
Thehulsmangroup
Added: Apr 6
Changed: Aug 23
Last Checked: Aug 23 at 5:10AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This is an investment opportunity to acquire a leased office unit. The suite, located on the third floor, features an open bullpen area and two small private offices. The unit was renovated in early 2022. Access is available via elevator or multiple staircases. The property offers ample parking. The bike score is 9, indicating it is somewhat bikeable. The walk score is 3, indicating car dependence, and the transit score is 0, indicating no nearby transit.
Key Highlights
- Leased Unit: Immediate income generation.
- Renovated in 2022: Enjoy modernized space.
- Open Bull Pen Area: Flexible workspace.
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
$9,170
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
7.97%
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%
$183,400
$183.4K
Cap Rate 7%
$131,000
$131.0K
Cap Rate 9%
$101,889
$101.9K
Market Conditions
NOI Build-Up for 1,308 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
$14.9K $11.40/SF
− Vacancy
−$2.7K −$2.05/SF
EGI
$12.2K $9.35/SF
− OpEx
−$3.1K −$2.34/SF
NOI
$9.2K $7.01/SF
Area
Howard 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%
$183,400
Cap Rate 7%
$131,000
Cap Rate 9%
$101,889
Alternative Uses
Best Use
Office B
$131.0K
$114.6K – $152.8K
NOI $9,170 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$485.1K
$424.4K – $565.9K
NOI $33,955 @ 7.0% cap · market cap 29.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Explore this area
Business Placement
Demographics for 21042, MD
43,147
Population
15,269
Households
2.8
Avg Household Size
43
Median Age
75%
College-Educated
98%
High-School Grad
37.0 sq mi
ZIP Area
1,166
Density / Sq Mi
$190,504
Median Household Income
$94,089
Median Earnings
$2,253
Median Rent
$674,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Leased office unit with recent renovations and ample parking.
Where is this office units located?
The property is located at 3219 CORPORATE COURT Unit 10B Ellicott City, MD.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Leased Unit: Immediate income generation.; Renovated in 2022: Enjoy modernized space.; Open Bull Pen Area: Flexible workspace.
