Building Details

Year Built 1939

Listing Agency: KELLER WILLIAMS GATEWAY LLC Show Phone

Listed By: JASON S LUSBY · License #597833 Show Phone

Source: Corcoran

Added: Feb 16 Changed: Oct 19 Last Checked: Oct 20 at 8:18PM

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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 KELLER WILLIAMS GATEWAY LLC

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Investment Insights

Based on property information with market context.

This industrial flex property, zoned C-1 (Commercial Industrial), includes two buildings and a large yard. The sale encompasses two tax parcels, 1301100947 (703 Philadelphia Rd.) and 1301103504 (705-A Philadelphia Rd.), totaling approximately 2.61 acres. The property features two buildings with a combined area of approximately 3,214 square feet. The contiguous industrial land offers potential for additional parking, outdoor storage, or future building expansion. This property is suitable for investors, owner-users, or speculative development, with most of the site already cleared. It provides access to Mountain Road, Pulaski Highway (US-40), I-95, and Joppa Road, making it suitable for various industrial or flex uses. Building conditions range from average to below average. The site is served by one active septic/holding system (705-A), with a second system (703) likely requiring overhaul, replacement, or alternative technology, depending on intended use. The property is sold AS-IS.

Key Highlights

• 2.61 acres of contiguous industrial land with development potential.
• C‑1 (Commercial Industrial) zoning allows for a variety of uses.
• Excellent opportunity for investors, owner‑users, or speculative development.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,419

Cap Rate

8.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$868,380 $868.4K

Cap Rate 7%

$620,271 $620.3K

Cap Rate 9%

$482,433 $482.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,214 SF

Gross rent

$78.7K $24.48/SF

− Vacancy

−$11.9K −$3.70/SF

EGI

$66.8K $20.78/SF

− OpEx

−$23.4K −$7.27/SF

NOI

$43.4K $13.51/SF

Area

Harford County, MD

Vacancy

15.10%

Lease Rate

$24.48 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$868,380

Cap Rate 7%

$620,271

Cap Rate 9%

$482,433

Alternative Uses

Best Use

Flex RnD

$620.3K

$542.7K – $723.7K (±1% cap)

NOI $43,419 @ 7.0% cap · market cap 8.77%

Second Best

Industrial

$279.1K

$244.3K – $325.7K (±1% cap)

NOI $19,540 @ 7.0% cap · market cap 3.95%

Theoretical Best

Office A

$1.13M

$989.5K – $1.32M (±1% cap)

NOI $79,161 @ 7.0% cap · market cap 15.99%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Hair Salon Spa & Massage Center Nail Salon

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

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 21085, MD

17,142

Population

7,073

Households

2.4

Avg Household Size

43

Median Age

31%

College-Educated

93%

High-School Grad

19.0 sq mi

ZIP Area

902

Density / Sq Mi

$107,975

Median Household Income

$63,132

Median Earnings

$1,593

Median Rent

$327,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Two buildings on 2.61 acres with expansion potential.

Where is this flex space located?

The property is located at 703-705A 703-705a Philadelphia Rd Joppa, MD.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 2.61 acres of contiguous industrial land with development potential.; C‑1 (Commercial Industrial) zoning allows for a variety of uses.; Excellent opportunity for investors, owner‑users, or speculative development.