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6 Back River Neck Rd, Essex, MD 21221
Automotive properties
Property Size9,000 SF
Price / SF$171.33
Days on Market147
Property Features for 6 Back River Neck Rd
General Information
Standard status
Active
Size
9,000 SF
Class
A
Property subtype
Retail
Zoning
BL
Occupancy
72%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$100,285
Building Details
Year Built
1942
Year Renovated
2025
Stories
3
Tenancy
Single
Listing Agency:
KLNB Commercial Real Estate Services
Listed By:
Christopher Burnham · License #MD
Source:
Crexi
Added: Apr 7
Changed: Aug 29
Last Checked: Jul 21 at 3:46PM
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 KLNB Commercial Real Estate Services
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
$127,384
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
8.26%
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%
$2,547,680
$2.5M
Cap Rate 7%
$1,819,771
$1.8M
Cap Rate 9%
$1,415,378
$1.4M
Market Conditions
NOI Build-Up for 9,000 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
$194.4K $21.60/SF
− Vacancy
−$12.4K −$1.38/SF
EGI
$182.0K $20.22/SF
− OpEx
−$54.6K −$6.07/SF
NOI
$127.4K $14.15/SF
Area
Baltimore County, MD
Vacancy
6.39%
Lease Rate
$21.60 /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%
$2,547,680
Cap Rate 7%
$1,819,771
Cap Rate 9%
$1,415,378
Alternative Uses
Best Use
Retail
$1.82M
$1.59M – $2.12M
NOI $127,384 @ 7.0% cap · market cap 8.26%
Second Best
Industrial
$1.02M
$890.9K – $1.19M
NOI $71,275 @ 7.0% cap · market cap 4.62%
Theoretical Best
Multifamily LT 5
$87.32M
$76.40M – $101.87M
NOI $6,112,239 @ 7.0% cap · market cap 396.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21221, MD
43,381
Population
18,364
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
86%
High-School Grad
15.0 sq mi
ZIP Area
2,892
Density / Sq Mi
$67,368
Median Household Income
$44,416
Median Earnings
$1,305
Median Rent
$266,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 151 Back River Neck Rd, Essex, MD 21221
- Enterprise Rent-A-Car — 1601 Eastern Blvd, Essex, MD 21221
Frequently Asked Questions
Where is this automotive property located?
The property is located at 6 Back River Neck Rd Essex, MD.
What is the asking price?
The asking price for this property is $1,542,000.
