Building Details

Year Built 1992

Tenancy Multi

Listing Agency: Hyatt Commercial

Listed By: Nick G. Stellway · License #MD 5007878 Show Phone

Source: Crexi

Added: Mar 26 Changed: Oct 10 Last Checked: Oct 14 at 9:08PM

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Investment Insights

Based on property information with market context.

This office property comprises 75,952 square feet and was constructed in 1992. The asset is positioned at 43871 and 43865 Airport View Dr and carries I-1 zoning. Northrup Grumman serves as the anchor occupant, with Av3, Inc. and Indian Township Solutions also identified as tenants; both are subsidiaries of Av3 and operate as aerospace and defense contractors.

The property adjoins Southern Maryland Regional Airport and fronts Airport View Drive. It is situated in the St. Marys Industrial Park area of Hollywood, Maryland, among established industrial and office operations. Access is available to MD Rt 235 and Three Notch Road, while Patuxent Naval Air Base is approximately 8+/- miles away.

Key Highlights

• 75,952‑square‑foot office property built in 1992
• Northrup Grumman identified as the anchor occupant
• Av3, Inc. and Indian Township Solutions are aerospace and defense contractor tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,160,288

Cap Rate

6.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$23,205,760 $23.2M

Cap Rate 7%

$16,575,543 $16.6M

Cap Rate 9%

$12,892,089 $12.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 75,952 SF

Gross rent

$1.87M $24.60/SF

− Vacancy

−$321.4K −$4.23/SF

EGI

$1.55M $20.37/SF

− OpEx

−$386.8K −$5.09/SF

NOI

$1.16M $15.28/SF

Area

St. Mary's County, MD

Vacancy

17.20%

Lease Rate

$24.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$23,205,760

Cap Rate 7%

$16,575,543

Cap Rate 9%

$12,892,089

Alternative Uses

Best Use

Office B

$16.58M

$14.50M – $19.34M (±1% cap)

NOI $1,160,288 @ 7.0% cap · market cap 6.48%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$28.17M

$24.65M – $32.86M (±1% cap)

NOI $1,971,687 @ 7.0% cap · market cap 11.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Restaurant Parking Lot & Garage Real Estate Agency Pharmacy Storage Facility Law Firm

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

307

Businesses Nearby

Explore this area Business Placement

Demographics for 20636, MD

10,615

Population

3,906

Households

2.7

Avg Household Size

40

Median Age

37%

College-Educated

90%

High-School Grad

34.4 sq mi

ZIP Area

309

Density / Sq Mi

$159,800

Median Household Income

$75,762

Median Earnings

$1,158

Median Rent

$470,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Frequently Asked Questions

What type of property is this?

Office building - I-1-zoned property occupied by aerospace and defense contractors within an established industrial and office setting.

Where is this office building located?

The property is located at 43871 & 43865 Airport View Dr Hollywood, MD.

What is the asking price?

The asking price for this property is $17,900,000.

What are key features of this property?

This property features: 75,952‑square‑foot office property built in 1992; Northrup Grumman identified as the anchor occupant; Av3, Inc. and Indian Township Solutions are aerospace and defense contractor tenants