Three-Story Flex
New
For Sale
$1,800,000
4216 Howard Ave, Kensington, MD 20895
I-M zoning, loading, and exclusive parking support varied commercial operations.
Property Size8,400 SF
Price / SF$214.29
Days on Market2
Property Features for 4216 Howard Ave
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Industrial - Flex - Industrial
Zoning
I-M
Additional Details
Highway Access
Yes
Building Details
Building Size
8,400 SF
Buildings
1
Stories
3
Listing Agency:
NAI Michael
Listed By:
Steve Catalano · License #639306
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 2 at 2:04PM
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 NAI Michael
Investment Insights
Based on property information with market context.
This three-story flex building at 4216 Howard Avenue contains 8,400 SF and includes loading facilities along with exclusive parking. The third floor is occupied by Bethesda Chimney, providing an existing tenancy within the property. I-M zoning supports the building’s industrial and flex classification.
The property is in Kensington, Maryland, with access to the Capital Beltway, I-495, and I-270. Its location connects the site with suburban Maryland and Washington, DC, while nearby destinations include Kensington Antique Row, the National Museum of Health and Medicine, the National Institutes of Health, Strathmore, Westfield Wheaton, and Pike & Rose.
The property is in Kensington, Maryland, with access to the Capital Beltway, I-495, and I-270. Its location connects the site with suburban Maryland and Washington, DC, while nearby destinations include Kensington Antique Row, the National Museum of Health and Medicine, the National Institutes of Health, Strathmore, Westfield Wheaton, and Pike & Rose.
Key Highlights
- 8,400 SF three‑story flex building
- I‑M zoning for industrial and flex use
- Loading facilities and exclusive parking included
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
$115,909
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
6.44%
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%
$2,318,180
$2.3M
Cap Rate 7%
$1,655,843
$1.7M
Cap Rate 9%
$1,287,878
$1.3M
Market Conditions
NOI Build-Up for 8,400 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
$198.6K $23.64/SF
− Vacancy
−$20.3K −$2.41/SF
EGI
$178.3K $21.23/SF
− OpEx
−$62.4K −$7.43/SF
NOI
$115.9K $13.80/SF
Area
Montgomery County, MD
Vacancy
10.20%
Lease Rate
$23.64 /SF/Yr
Expense Ratio
35.00%
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%
$2,318,180
Cap Rate 7%
$1,655,843
Cap Rate 9%
$1,287,878
Alternative Uses
Best Use
Flex RnD
$1.66M
$1.45M – $1.93M
NOI $115,909 @ 7.0% cap · market cap 6.44%
Second Best
Industrial
$1.17M
$1.03M – $1.37M
NOI $82,026 @ 7.0% cap · market cap 4.56%
Theoretical Best
Specialty Retail
$2.95M
$2.59M – $3.45M
NOI $206,845 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20895, MD
19,753
Population
7,316
Households
2.7
Avg Household Size
42
Median Age
74%
College-Educated
97%
High-School Grad
4.1 sq mi
ZIP Area
4,818
Density / Sq Mi
$169,527
Median Household Income
$88,513
Median Earnings
$2,075
Median Rent
$744,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - I-M zoning, loading, and exclusive parking support varied commercial operations.
Where is this flex space located?
The property is located at 4216 Howard Ave Kensington, MD.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 8,400 SF three‑story flex building; I‑M zoning for industrial and flex use; Loading facilities and exclusive parking included
