Renovated Convenience
For Sale
$329,900
4526 Washington Boulevard, Halethorpe, MD 21227
Updated refrigeration supports grocery and convenience retail near office and residential areas.
Property Size1,200 SF
Price / SF$274.92
Days on Market35
Property Features for 4526 Washington Boulevard
General Information
Standard status
Active
Size
1,200 SF
Amenities
upgraded refrigeration
Building Details
Year Built
1955
Listing Agency:
Leeds Realty, Inc.
Listed By:
Ola O Famuyiwa
(301) 680-3100
Source:
Elkaimpropertygroup
Added: Aug 2
Changed: Sep 5
Last Checked: Sep 1 at 4:43PM
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 Leeds Realty, Inc.
Investment Insights
Based on property information with market context.
This grocery and convenience store property at 4526 Washington Boulevard includes newly renovated interiors and upgraded refrigeration equipment. The improvements support ongoing retail operations within an established building constructed in 1955.
The property is positioned near both office and residential areas, with visibility from a major highway. Its setting provides exposure to surrounding commercial and residential activity while maintaining a retail-oriented use profile.
The property is positioned near both office and residential areas, with visibility from a major highway. Its setting provides exposure to surrounding commercial and residential activity while maintaining a retail-oriented use profile.
Key Highlights
- Newly renovated grocery and convenience store property
- Upgraded refrigeration equipment
- Located near office park and residential areas
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
$17,296
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
5.24%
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%
$345,920
$345.9K
Cap Rate 7%
$247,086
$247.1K
Cap Rate 9%
$192,178
$192.2K
Market Conditions
NOI Build-Up for 1,200 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
$24.9K $20.76/SF
− Vacancy
−$1.9K −$1.54/SF
EGI
$23.1K $19.22/SF
− OpEx
−$5.8K −$4.80/SF
NOI
$17.3K $14.41/SF
Area
Baltimore County, MD
Vacancy
7.43%
Lease Rate
$20.76 /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%
$345,920
Cap Rate 7%
$247,086
Cap Rate 9%
$192,178
Alternative Uses
Best Use
Specialty Retail
$247.1K
$216.2K – $288.3K
NOI $17,296 @ 7.0% cap · market cap 5.24%
Second Best
Retail
$242.6K
$212.3K – $283.1K
NOI $16,985 @ 7.0% cap · market cap 5.15%
Theoretical Best
Multifamily LT 5
$11.64M
$10.19M – $13.58M
NOI $814,965 @ 7.0% cap · market cap 247.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
1k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Econo Lodge
Hotels & Casinos
1,124 visits/mo
0.5 miles
Demographics for 21227, MD
35,837
Population
14,260
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
85%
High-School Grad
11.3 sq mi
ZIP Area
3,171
Density / Sq Mi
$83,620
Median Household Income
$52,643
Median Earnings
$1,347
Median Rent
$272,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Updated refrigeration supports grocery and convenience retail near office and residential areas.
Where is this grocery and convenience store located?
The property is located at 4526 Washington Boulevard Halethorpe, MD.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Newly renovated grocery and convenience store property; Upgraded refrigeration equipment; Located near office park and residential areas
