Medical Office Building with Dual
For Sale
$375,000
464 ALLIANCE STREET, Havre de Grace, MD 21078
Central air, parking, and a double-lot configuration support a practical office setting.
Property Size1,500 SF
Price / SF$250
Days on Market13
Property Features for 464 ALLIANCE STREET
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Office
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,576
Amenities
Central Air
Parking.
Lot.
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Streett Hopkins Real Estate, LLC
(410) 879-7466
Listed By:
Timothy Hopkins · License #06121
(410) 459-4929
Source:
Xome
Added: Aug 21
Changed: Sep 1
Last Checked: Sep 1 at 9:54PM
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 Streett Hopkins Real Estate, LLC
Investment Insights
Based on property information with market context.
This medical office property includes central air, parking, and a double-lot configuration. The building was constructed in 1976 and is currently occupied, with showings available by appointment.
The property fronts both Alliance Street and Union Avenue in Havre de Grace, providing exposure along two streets. Its location and existing office improvements offer a straightforward setting for continued medical office use.
The property fronts both Alliance Street and Union Avenue in Havre de Grace, providing exposure along two streets. Its location and existing office improvements offer a straightforward setting for continued medical office use.
Key Highlights
- Medical office building constructed in 1976
- Double‑lot property with frontage on Alliance Street and Union Avenue
- Central air conditioning
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
$18,705
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
4.99%
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%
$374,100
$374.1K
Cap Rate 7%
$267,214
$267.2K
Cap Rate 9%
$207,833
$207.8K
Market Conditions
NOI Build-Up for 1,500 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
$36.7K $24.48/SF
− Vacancy
−$5.5K −$3.70/SF
EGI
$31.2K $20.78/SF
− OpEx
−$12.5K −$8.31/SF
NOI
$18.7K $12.47/SF
Area
Harford County, MD
Vacancy
15.10%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
40.00%
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%
$374,100
Cap Rate 7%
$267,214
Cap Rate 9%
$207,833
Alternative Uses
Best Use
Healthcare Medical
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 4.99%
Second Best
Office B
$150.2K
$131.5K – $175.3K
NOI $10,517 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$527.8K
$461.8K – $615.8K
NOI $36,945 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21078, MD
20,321
Population
8,760
Households
2.3
Avg Household Size
46
Median Age
41%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
675
Density / Sq Mi
$109,451
Median Household Income
$53,942
Median Earnings
$1,331
Median Rent
$355,500
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?
Medical Office Space - Central air, parking, and a double-lot configuration support a practical office setting.
Where is this medical office space located?
The property is located at 464 ALLIANCE STREET Havre de Grace, MD.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Medical office building constructed in 1976; Double‑lot property with frontage on Alliance Street and Union Avenue; Central air conditioning
