Three-Office Suite Brick
For Sale
$899,000
5410 RITCHIE Highway, Baltimore, MD 21225
Commercial Sale - BALTIMORE, MD
Property Size3,200 SF
Lot Size0.30 Acres
Price / SF$280.94
Days on Market357
Property Features for 5410 RITCHIE Highway
General Information
Property type
Other
Property subtype
Retail
Parking
20
Parking features
Parking Lot
Elementary school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
Middle school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
High school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
Standard status
Active
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
4424
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump, Multi Units
Building Details
Year built
1990
Number of units
1
Building materials
Brick
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(410) 730-6100
Listed By:
Christopher B Cecil · License #584424
(410) 446-3132
Added: Aug 18, 2025
Changed: Jul 31
Last Checked: Aug 9 at 2:06AM
MLS# MDAA2123784
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick office building is configured for up to three office suites, with two currently built out and one suite left as a blank canvas for a future tenant. The property includes parking for up to 20 vehicles and totals 3,200 square feet on a 0.3013-acre lot.
Heating is provided via electric heat and heat pump systems, and cooling includes heat pump and multi-unit cooling. Built in 1990, the property offers a straightforward setup for office users seeking dedicated suite space.
The address is 5410 Ritchie Highway, Baltimore, MD 21225 in Anne Arundel County. Other uses are mentioned as possible options (restaurant and retail), with details to be verified by the buyer through AA County.
Heating is provided via electric heat and heat pump systems, and cooling includes heat pump and multi-unit cooling. Built in 1990, the property offers a straightforward setup for office users seeking dedicated suite space.
The address is 5410 Ritchie Highway, Baltimore, MD 21225 in Anne Arundel County. Other uses are mentioned as possible options (restaurant and retail), with details to be verified by the buyer through AA County.
Key Highlights
- Up to three office suites; two built out and one blank canvas
- 3,200 square feet total with 0.3013‑acre lot
- Parking lot provides space for up to 20 vehicles
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
$44,489
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
4.95%
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%
$889,780
$889.8K
Cap Rate 7%
$635,557
$635.6K
Cap Rate 9%
$494,322
$494.3K
Market Conditions
NOI Build-Up for 3,200 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
$71.0K $22.20/SF
− Vacancy
−$11.7K −$3.66/SF
EGI
$59.3K $18.54/SF
− OpEx
−$14.8K −$4.63/SF
NOI
$44.5K $13.90/SF
Area
Baltimore, MD
Vacancy
16.50%
Lease Rate
$22.20 /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%
$889,780
Cap Rate 7%
$635,557
Cap Rate 9%
$494,322
Alternative Uses
Best Use
Office B
$635.6K
$556.1K – $741.5K
NOI $44,489 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$766.6K
$670.8K – $894.4K
NOI $53,664 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 21225, MD
34,138
Population
14,434
Households
2.4
Avg Household Size
34
Median Age
14%
College-Educated
79%
High-School Grad
6.5 sq mi
ZIP Area
5,252
Density / Sq Mi
$50,069
Median Household Income
$35,991
Median Earnings
$1,118
Median Rent
$214,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Brick office building built in 1990 offering parking in a lot and flexible suite space for up to three tenants.
Where is this office units located?
The property is located at 5410 RITCHIE Highway Baltimore, MD.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Up to three office suites; two built out and one blank canvas; 3,200 square feet total with 0.3013‑acre lot; Parking lot provides space for up to 20 vehicles
