Ritchie Highway Commercial
For Sale
$899,000
5410 RITCHIE Hwy, Baltimore, MD 21225
3200 SF commercial space with parking on Ritchie Highway.
Property Size3,200 SF
Lot Size0.30 Acres
Price / SF$280.94
Days on Market164
Property Features for 5410 RITCHIE Hwy
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,424
Building Details
Year Built
1990
Units
1
Listing Agency:
RE/MAX 100
(410) 446-3132
Listed By:
Christopher B Cecil · License #584424
(410) 446-3132
Source:
Elliman
Added: Mar 11
Changed: Aug 9
Last Checked: Aug 21 at 12:01PM
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 RE/MAX 100
Investment Insights
Based on property information with market context.
This property on Ritchie Highway presents a commercial opportunity with 3200 square feet of space and parking for up to 20 vehicles. It is suitable for office, retail, or restaurant use, subject to verification by the buyer through Anne Arundel County. The property can accommodate up to three office suites. Two suites have been built out, while one remains unfinished, offering a customizable space for a potential tenant.
Key Highlights
- High‑rent potential with up to 3 office suites.
- Two office suites are already built out.
- 3200 square feet of total space.
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
Location Intelligence
Trade Area within ½ mile
490
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 - 3200 SF commercial space with parking on Ritchie Highway.
Where is this office units located?
The property is located at 5410 RITCHIE Hwy 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: High‑rent potential with up to 3 office suites.; Two office suites are already built out.; 3200 square feet of total space.
