Modern Retail Building in
For Sale
$6,300,000
5200 & 5230 Moravia Rd, Baltimore, MD 21206
Fully leased, income-generating retail property in a prime Baltimore location.
Property Size16,000 SF
Price / SF$393.75
Days on Market338
Property Features for 5200 & 5230 Moravia Rd
General Information
Standard status
Active
Size
16,000 SF
Property subtype
Retail
Building Details
Building Size
16,000 SF
Year Built
2015
Listing Agency:
Lee & Associates | Columbia
(443) 286-9063
Listed By:
Mark Mueller
Source:
Lee-associates
Added: Sep 10, 2025
Changed: Aug 11
Last Checked: Aug 12 at 5:11AM
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 Lee & Associates | Columbia
Investment Insights
Based on property information with market context.
Moravia Plaza presents an investment opportunity for retail and strip center investors. Constructed in 2015, this modern 16,000 square foot building features two fully leased units, resulting in 100% occupancy. The property is zoned B-2-1 and is located in Baltimore, Maryland, offering a location for retail businesses. With its rental performance and contemporary construction, Moravia Plaza is a prospect for investors seeking a stable, income-generating asset in the Baltimore market. The property is situated in a retail hub in Baltimore, Maryland, characterized by a consumer base and high traffic flow, making it suitable for retail and strip center investment. The surrounding area includes a mix of national and local retailers, providing a shopping experience for visitors. Residents and shoppers have access to amenities and established businesses, enhancing the area's appeal. With its positioning and surroundings, Moravia Plaza presents an opportunity for investors looking to capitalize on the Baltimore market.
Key Highlights
- 100% Occupancy: Provides immediate and stable income.
- Modern Construction (Built 2015): Reduces potential maintenance costs.
- Strong Rental Performance: Indicates a history of profitability.
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
$180,432
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
2.86%
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%
$3,608,640
$3.6M
Cap Rate 7%
$2,577,600
$2.6M
Cap Rate 9%
$2,004,800
$2.0M
Market Conditions
NOI Build-Up for 16,000 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
$288.0K $18.00/SF
− Vacancy
−$30.2K −$1.89/SF
EGI
$257.8K $16.11/SF
− OpEx
−$77.3K −$4.83/SF
NOI
$180.4K $11.28/SF
Area
ZIP 21206
Vacancy
10.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,608,640
Cap Rate 7%
$2,577,600
Cap Rate 9%
$2,004,800
Alternative Uses
Best Use
Retail
$2.58M
$2.26M – $3.01M
NOI $180,432 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.37M
$2.95M – $3.93M
NOI $235,711 @ 7.0% cap · market cap 3.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Explore this area
Business Placement
Demographics for 21206, MD
49,470
Population
21,939
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
6,777
Density / Sq Mi
$62,965
Median Household Income
$46,426
Median Earnings
$1,215
Median Rent
$213,700
Median Home Value
Market
Vacancy Rate% for Retail in Baltimore, MD
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased, income-generating retail property in a prime Baltimore location.
Where is this strip mall located?
The property is located at 5200 & 5230 Moravia Rd Baltimore, MD.
What is the asking price?
The asking price for this property is $6,300,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate and stable income.; Modern Construction (Built 2015): Reduces potential maintenance costs.; Strong Rental Performance: Indicates a history of profitability.
