Flex Industrial Facility with
For Sale
$1,650,000
7968 LIBERTYTOWN ROAD, Berlin, MD 21811
Industrial-zoned facility combines substantial warehouse capacity, adaptable office space, and specialized heavy-duty operating infrastructure.
Property Size16,680 SF
Lot Size4.80 Acres
Price / SF$98.92
Days on Market53
Property Features for 7968 LIBERTYTOWN ROAD
General Information
Standard status
Active
Size
16,680 SF
Lot size
4.80 Acres
Property subtype
Commercial
Zoning
I-1
Warehouse & Industrial
Warehouse Space
15,000 SF
Office Build-Out
1,700 SF
Drive-In Doors
4
Three-Phase Power
Yes
Building Details
Year Built
1977
Construction
steel frame
Listing Agency:
Keller Williams Realty Delmarva
(410) 524-6400
Listed By:
Lauren W. Bunting · License #581537
(410) 422-9899
Source:
Cummingsrealtors
Added: Aug 6
Changed: Sep 26
Last Checked: Sep 26 at 10:00AM
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 Realty Delmarva
Investment Insights
Based on property information with market context.
This flex industrial facility occupies 4.795 acres of I-1-zoned land and includes approximately 15,000 square feet of warehouse area. The building dates to 1977 and uses heavy steel framing. Four roll-up doors support equipment and vehicle access, while the front section contains approximately 1,700 square feet of office space, two bathrooms, a kitchenette/break room, and a supply room with built-in shelving. A second-floor mezzanine adds storage within the warehouse.
Operational infrastructure includes an 8½-ton overhead traveling crane serving two bays, three-phase electrical service, six workstations with compressed air, acetylene gas, and electrical panel access, three additional pre-piped compressed air ports, and a 10-horsepower FS-Curtis air compressor. Seventeen LED engine bay lights, two oil-fired furnaces, and a 1,000-gallon above-ground oil tank are also in place.
The site includes 1.629 acres approved and operated as a dredge spoil disposal area. FEMA mapping identifies most of the property within Flood Zone X. The property is located on Libertytown Road in Berlin, Maryland.
Operational infrastructure includes an 8½-ton overhead traveling crane serving two bays, three-phase electrical service, six workstations with compressed air, acetylene gas, and electrical panel access, three additional pre-piped compressed air ports, and a 10-horsepower FS-Curtis air compressor. Seventeen LED engine bay lights, two oil-fired furnaces, and a 1,000-gallon above-ground oil tank are also in place.
The site includes 1.629 acres approved and operated as a dredge spoil disposal area. FEMA mapping identifies most of the property within Flood Zone X. The property is located on Libertytown Road in Berlin, Maryland.
Key Highlights
- 4.795 acres of I‑1‑zoned industrial land with approximately 15,000 square feet of warehouse space
- Two 10' x 16' and two 14' x 18' roll‑up doors
- 8½‑ton overhead traveling crane spanning approximately 30' x 120' across two bays
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
$151,727
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
9.20%
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%
$3,034,540
$3.0M
Cap Rate 7%
$2,167,529
$2.2M
Cap Rate 9%
$1,685,856
$1.7M
Market Conditions
NOI Build-Up for 16,680 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
$196.2K $11.76/SF
− Vacancy
−$17.7K −$1.06/SF
EGI
$178.5K $10.70/SF
− OpEx
−$26.8K −$1.61/SF
NOI
$151.7K $9.10/SF
Area
Worcester County, MD
Vacancy
9.00%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
15.00%
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%
$3,034,540
Cap Rate 7%
$2,167,529
Cap Rate 9%
$1,685,856
Alternative Uses
Best Use
Flex RnD
$2.51M
$2.20M – $2.93M
NOI $175,640 @ 7.0% cap · market cap 10.64%
Second Best
Warehouse
$2.17M
$1.90M – $2.53M
NOI $151,727 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,584 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21811, MD
23,907
Population
15,439
Households
1.5
Avg Household Size
52
Median Age
36%
College-Educated
94%
High-School Grad
101.5 sq mi
ZIP Area
236
Density / Sq Mi
$91,293
Median Household Income
$49,929
Median Earnings
$1,398
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned facility combines substantial warehouse capacity, adaptable office space, and specialized heavy-duty operating infrastructure.
Where is this flex space located?
The property is located at 7968 LIBERTYTOWN ROAD Berlin, MD.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4.795 acres of I‑1‑zoned industrial land with approximately 15,000 square feet of warehouse space; Two 10' x 16' and two 14' x 18' roll‑up doors; 8½‑ton overhead traveling crane spanning approximately 30' x 120' across two bays
