Listing Agency: MacKenzie Commercial Real Estate | Baltimore

Listed By: Bryan Herr Show Phone

Source: Mackenziecommercial

Added: Jun 22 Changed: Sep 9 Last Checked: Oct 4 at 6:12AM

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Investment Insights

Based on property information with market context.

3941 Penn Belt Place is an industrial condo for sale offering approximately 6,044 SF of functional warehouse space. The facility includes an oversized drive-in door and 18-foot clear height, supported by 480V power. A functional office/reception area is included, along with parking and IOS.

The property is located in Forestville, Maryland and is immediately adjacent to Joint Base Andrews. Access is described as convenient to Route 4, I-495, and the broader Washington, DC metro region.

With its combination of warehouse clearance, drive-in functionality, and on-site office/reception space, the property is well suited for industrial users seeking a practical, well-configured facility in an IE (Industrial Employment) zoned setting. The included parking and established industrial improvements make it a straightforward fit for an owner-user looking for a facility that supports both operations and customer-facing needs.

Key Highlights

• 6,044 SF industrial space for sale in Forestville, MD
• Oversized drive‑in door with 18' clear height
• 480V power

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$116,374

Cap Rate

7.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,327,480 $2.3M

Cap Rate 7%

$1,662,486 $1.7M

Cap Rate 9%

$1,293,044 $1.3M

Market Conditions

NOI Build-Up for 6,044 SF

Gross rent

$155.9K $25.80/SF

− Vacancy

−$19.0K −$3.15/SF

EGI

$136.9K $22.65/SF

− OpEx

−$20.5K −$3.40/SF

NOI

$116.4K $19.25/SF

Area

Prince George's County, MD

Vacancy

12.20%

Lease Rate

$25.80 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,327,480

Cap Rate 7%

$1,662,486

Cap Rate 9%

$1,293,044

Alternative Uses

Best Use

Warehouse

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,374 @ 7.0% cap · market cap 7.76%

Second Best

Industrial

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,838 @ 7.0% cap · market cap 6.39%

Theoretical Best

Specialty Retail

$1.95M

$1.71M – $2.27M (±1% cap)

NOI $136,484 @ 7.0% cap · market cap 9.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

All The Right Men Life Coach

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Pharmacy Dental Office Garden Center

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

Lease Details

18 ft

Clear height

1

Drive-in doors

Yes

Heavy power

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

495

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 20747, MD

40,696

Population

17,271

Households

2.4

Avg Household Size

38

Median Age

25%

College-Educated

90%

High-School Grad

7.9 sq mi

ZIP Area

5,151

Density / Sq Mi

$72,931

Median Household Income

$48,311

Median Earnings

$1,635

Median Rent

$325,400

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex 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?

Flex space - Industrial condo offering drive-in access, 18-foot clear height, and functional office/reception space for an owner-operator.

Where is this flex space located?

The property is located at 3941 Penn Belt Place Forestville, MD.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 6,044 SF industrial space for sale in Forestville, MD; Oversized drive‑in door with 18' clear height; 480V power