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Building Details

Year built 2004

Building materials Brick

Listing Agency: Keller Williams Realty m***@kw.com Show Phone

Listed By: JENNIFER HUGHES Show Phone

Added: Oct 15 Last Checked: Oct 15 at 6:06PM

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MLS# MDCR2037664

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.

Suite 209 at 602 Center Street in Mount Airy contains 1,794 square feet, with a reception area, four exam rooms, three private offices, a file room, staff lounge, and two restrooms. The suite is ADA compliant and has street-level access. The 2004 building has brick construction, forced-air heating, and central air conditioning.

A parking lot serves the professional complex. The property is near I-70 and regional routes.

Key Highlights

• 1,794‑square‑foot medical suite with four exam rooms and three private offices
• Reception area, file room, staff lounge, and two restrooms
• ADA‑compliant suite with street‑level access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,870

Cap Rate

9.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$677,400 $677.4K

Cap Rate 7%

$483,857 $483.9K

Cap Rate 9%

$376,333 $376.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,794 SF

Gross rent

$62.9K $35.04/SF

− Vacancy

−$6.4K −$3.57/SF

EGI

$56.4K $31.47/SF

− OpEx

−$22.6K −$12.59/SF

NOI

$33.9K $18.88/SF

Area

Frederick County, MD

Vacancy

10.20%

Lease Rate

$35.04 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$677,400

Cap Rate 7%

$483,857

Cap Rate 9%

$376,333

Alternative Uses

Best Use

Healthcare Medical

$483.9K

$423.4K – $564.5K (±1% cap)

NOI $33,870 @ 7.0% cap · market cap 9.03%

Second Best

Office B

$469.5K

$410.8K – $547.8K (±1% cap)

NOI $32,867 @ 7.0% cap · market cap 8.76%

Theoretical Best

Specialty Retail

$664.8K

$581.7K – $775.6K (±1% cap)

NOI $46,533 @ 7.0% cap · market cap 12.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Grocery & Convenience Store Garden Center Computer & Electronic Repair Furniture & Home Goods Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

526

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 21771, MD

30,697

Population

11,401

Households

2.7

Avg Household Size

43

Median Age

46%

College-Educated

95%

High-School Grad

89.5 sq mi

ZIP Area

343

Density / Sq Mi

$154,844

Median Household Income

$70,011

Median Earnings

$2,117

Median Rent

$532,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Similar Off Market Nearby

• Animal Health Center — 806 Park Ave, Mt Airy, MD 21771
• Cohen Deborah M DVM — Mt Airy, MD 21771
• Bray C Locher DVM — Mt Airy, MD 21771, United States
• Graves William I DVM — Mt Airy, MD 21771

Frequently Asked Questions

What type of property is this?

Medical Office Space - ADA-compliant space includes street-level entry and on-site parking.

Where is this medical office space located?

The property is located at 602 CENTER Street Mount Airy, 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: 1,794‑square‑foot medical suite with four exam rooms and three private offices; Reception area, file room, staff lounge, and two restrooms; ADA‑compliant suite with street‑level access