Mount Airy Commercial
For Sale
$265,000
401 CENTER St 1, Mount Airy, MD 21771
Commercial space for sale in Mount Airy, Maryland.
Property Size1,214 SF
Price / SF$218.29
Days on Market153
Property Features for 401 CENTER St 1
General Information
Standard status
Active
Size
1,214 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$1,862
Building Details
Year Built
1987
Units
1
Listing Agency:
Coldwell Banker Realty
(240) 674-3937
Listed By:
Jody Bell · License #MD657917
(240) 674-3937
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:51AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
A commercial space is available for purchase on Center Street in Mount Airy, Maryland. Unit 1 offers 1,214 square feet and includes a 10' x 8' overhead door, a glass door entryway, ceramic tiling, and exposed ceiling venting. The layout features an open space and a modern bathroom. Currently tenant-occupied as office and warehouse space, the unit is suitable for both owner-occupants and investors. The property benefits from its location within the Town of Mount Airy, providing convenient commuter access to Routes 27 and 26, as well as I-70.
Key Highlights
- Convenient location in Mount Airy with easy access to Routes 27 & 26 and I‑70.
- 1,214 sf unit suitable for owner occupants or investors.
- Features a 10' x 8' Overhead Door with Glassdoor Entry Way.
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
$22,241
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
8.39%
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%
$444,820
$444.8K
Cap Rate 7%
$317,729
$317.7K
Cap Rate 9%
$247,122
$247.1K
Market Conditions
NOI Build-Up for 1,214 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
$37.6K $30.96/SF
− Vacancy
−$7.9K −$6.53/SF
EGI
$29.7K $24.43/SF
− OpEx
−$7.4K −$6.11/SF
NOI
$22.2K $18.32/SF
Area
Frederick County, MD
Vacancy
21.10%
Lease Rate
$30.96 /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%
$444,820
Cap Rate 7%
$317,729
Cap Rate 9%
$247,122
Alternative Uses
Best Use
Office B
$317.7K
$278.0K – $370.7K
NOI $22,241 @ 7.0% cap · market cap 8.39%
Second Best
Warehouse
$162.7K
$142.4K – $189.8K
NOI $11,388 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$449.8K
$393.6K – $524.8K
NOI $31,489 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21771, MD
30,697
Population
11,401
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
95%
High-School Grad
89.5 sq mi
ZIP Area
343
Density / Sq Mi
$154,844
Median Household Income
$70,011
Median Earnings
$2,117
Median Rent
$532,200
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?
Flex space - Commercial space for sale in Mount Airy, Maryland.
Where is this flex space located?
The property is located at 401 CENTER St 1 Mount Airy, MD.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Convenient location in Mount Airy with easy access to Routes 27 & 26 and I‑70.; 1,214 sf unit suitable for owner occupants or investors.; Features a 10' x 8' Overhead Door with Glassdoor Entry Way.
