1928 Office Building with Historic
New
For Sale
$525,000
702 ROCK SPRING Rd, Bel Air, MD 21014
Private offices, a conference room, and an accessible ramp support a professional workplace configuration.
Property Size3,082 SF
Lot Size0.58 Acres
Price / SF$170.34
Days on Market2
Property Features for 702 ROCK SPRING Rd
General Information
Standard status
Active
Size
3,082 SF
Lot size
0.58 Acres
Property subtype
Commercial
Zoning
R2
Taxes and HOA fees
Annual Taxes
$5,253
Amenities
hardwood floors
stone fireplace
handicap ramp
large attic
dry basement
Building Details
Year Built
1928
Buildings
1
Tenancy
Single
Listing Agency:
Garceau Realty
Listed By:
David R Feazell · License #674137
(443) 299-7937
Source:
Elliman
Added: Oct 4
Last Checked: Oct 5 at 4:49PM
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 Garceau Realty
Investment Insights
Based on property information with market context.
Built in 1928, this office property contains approximately 3,082 SF on a 0.58-acre parcel. The 1,541 SF main floor includes a reception foyer, three private offices, a conference room, a large kitchen, and two bathrooms. Hardwood flooring, cedar shake siding, a slate roof, stone foundation, fireplace, walkway, and porch contribute to the building’s traditional architectural character. A handicap ramp provides accessible entry.
A dry basement and a spacious attic provide additional storage and utility areas. Heating is provided by an oil-fired boiler with radiators, and the building has a new electric water heater. A detached one-car garage adds parking and storage; the parking area can be expanded. The property is zoned R2 within the TOD District, where professional services are permitted. Other professional offices, retailers, and commercial uses are in the surrounding area, in the heart of Bel Air.
A dry basement and a spacious attic provide additional storage and utility areas. Heating is provided by an oil-fired boiler with radiators, and the building has a new electric water heater. A detached one-car garage adds parking and storage; the parking area can be expanded. The property is zoned R2 within the TOD District, where professional services are permitted. Other professional offices, retailers, and commercial uses are in the surrounding area, in the heart of Bel Air.
Key Highlights
- Approximately 3,082 SF building on 0.58 acres
- 1,541 SF main level with three private offices, conference room, kitchen, and two bathrooms
- Zoned R2 within the TOD District; professional services are permitted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,608
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,160
$432.2K
Cap Rate 7%
$308,686
$308.7K
Cap Rate 9%
$240,089
$240.1K
Market Conditions
NOI Build-Up for 3,082 SF
Gross rent
$35.1K $11.40/SF
− Vacancy
−$6.3K −$2.05/SF
EGI
$28.8K $9.35/SF
− OpEx
−$7.2K −$2.34/SF
NOI
$21.6K $7.01/SF
Area
Harford County, MD
Vacancy
18.00%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,160
Cap Rate 7%
$308,686
Cap Rate 9%
$240,089
Alternative Uses
Best Use
Office B
$308.7K
$270.1K – $360.1K
NOI $21,608 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$948.9K – $1.27M
NOI $75,910 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Explore this area
Business Placement
Demographics for 21014, MD
38,395
Population
14,975
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$113,825
Median Household Income
$59,656
Median Earnings
$1,571
Median Rent
$407,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Private offices, a conference room, and an accessible ramp support a professional workplace configuration.
Where is this office building located?
The property is located at 702 ROCK SPRING Rd Bel Air, MD.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 3,082 SF building on 0.58 acres; 1,541 SF main level with three private offices, conference room, kitchen, and two bathrooms; Zoned R2 within the TOD District; professional services are permitted
