First-Floor Medical Office
For Sale
$259,999
3450 Ellicott Center Drive Unit 5D1 / 10, Ellicott City, MD 21043
Direct entry, central air, and on-site lot parking support a practical professional office layout.
Property Size988 SF
Price / SF$263.16
Days on Market172
Property Features for 3450 Ellicott Center Drive Unit 5D1 / 10
General Information
Standard status
Active
Size
988 SF
Property subtype
Office
Additional Details
Floor
First Floor
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,748
Amenities
Central Air
3
Laminate
Shingle
B2
Parking.
Unassigned, Lot.
Business Park.
Building Details
Year Built
1988
Listing Agency:
HP Realty Group Inc
(443) 794-0700
Listed By:
Sang Pak · License #506890
(443) 794-0700
Source:
Xome
Added: Mar 14
Changed: Aug 31
Last Checked: Aug 31 at 3:56PM
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 HP Realty Group Inc
Investment Insights
Based on property information with market context.
This 988-square-foot medical office condominium is positioned on the first floor with a direct entrance and no steps. Central air and laminate flooring are in place, and the space has supported both dental and chiropractic office operations. The building dates to 1988 and is part of a business park office setting.
The property includes parking in an unassigned lot and offers access to I-95, Rt29, Rt40, and Rt70. Its Ellicott City location provides a professional office environment for continued medical or related office use.
The property includes parking in an unassigned lot and offers access to I-95, Rt29, Rt40, and Rt70. Its Ellicott City location provides a professional office environment for continued medical or related office use.
Key Highlights
- 988‑square‑foot first‑floor medical office condominium
- Direct entrance with no steps
- Previously used as a dental office and currently configured for chiropractic use
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
$11,958
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
4.60%
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%
$239,160
$239.2K
Cap Rate 7%
$170,829
$170.8K
Cap Rate 9%
$132,867
$132.9K
Market Conditions
NOI Build-Up for 988 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
$24.3K $24.60/SF
− Vacancy
−$4.4K −$4.43/SF
EGI
$19.9K $20.17/SF
− OpEx
−$8.0K −$8.07/SF
NOI
$12.0K $12.10/SF
Area
Howard County, MD
Vacancy
18.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
40.00%
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%
$239,160
Cap Rate 7%
$170,829
Cap Rate 9%
$132,867
Alternative Uses
Best Use
Healthcare Medical
$170.8K
$149.5K – $199.3K
NOI $11,958 @ 7.0% cap · market cap 4.60%
Second Best
Office B
$99.0K
$86.6K – $115.5K
NOI $6,927 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$366.4K
$320.6K – $427.5K
NOI $25,648 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 21043, MD
48,775
Population
17,978
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
17.1 sq mi
ZIP Area
2,852
Density / Sq Mi
$141,846
Median Household Income
$77,574
Median Earnings
$1,964
Median Rent
$607,300
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.
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- HomeVets Patapsco Valley — 8525 Baltimore National Pike Suite E, Ellicott City, MD 21043
- Denise A. Huson — 8525 Baltimore National Pike # 5, Ellicott City, MD 21043
Frequently Asked Questions
What type of property is this?
Medical Office Space - Direct entry, central air, and on-site lot parking support a practical professional office layout.
Where is this medical office space located?
The property is located at 3450 Ellicott Center Drive Unit 5D1 / 10 Ellicott City, MD.
What is the asking price?
The asking price for this property is $259,999.
What are key features of this property?
This property features: 988‑square‑foot first‑floor medical office condominium; Direct entrance with no steps; Previously used as a dental office and currently configured for chiropractic use
