Airport-Adjacent Office
For Sale
Contact for pricing
43871 & 43865 Airport View Dr, Hollywood, MD 20636
I-1-zoned property occupied by aerospace and defense contractors within an established industrial and office setting.
Property Size75,952 SF
Price / SF$235.68
Days on Market160
Property Features for 43871 & 43865 Airport View Dr
General Information
Standard status
Active
Size
75,952 SF
Class
B
Property subtype
Office
Zoning
I-1
Additional Details
Road Access
Yes
Building Details
Year Built
1992
Tenancy
Multi
Listing Agency:
Hyatt Commercial
(443) 584-4494
Listed By:
Nick G. Stellway · License #MD 5007878
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 10:50PM
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 Hyatt Commercial
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.
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 = 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
$1,160,288
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
6.48%
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%
$23,205,760
$23.2M
Cap Rate 7%
$16,575,543
$16.6M
Cap Rate 9%
$12,892,089
$12.9M
Market Conditions
NOI Build-Up for 75,952 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
$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 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%
$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
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
NOI $1,971,687 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Questions? Ask Rey
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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
