Flex Condo Warehouse
For Sale
$1,165,000
8017 DORSEY RUN ROAD 1-2, Jessup, MD 20794
Two flex condo units with two bays, offices, bathrooms, kitchenette, and open warehouse space available together or separately.
Property Size6,500 SF
Price / SF$179.23
Days on Market90
Property Features for 8017 DORSEY RUN ROAD 1-2
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$6,997
Building Details
Building Size
6,500 SF
Year Built
2005
Listing Agency:
Fathom Realty MD, LLC
(443) 324-3280
Listed By:
Gennady Fayer · License #588934
(443) 324-3280
Source:
Kerishull
Added: May 27
Changed: Aug 23
Last Checked: Aug 14 at 8:04AM
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 Fathom Realty MD, LLC
Investment Insights
Based on property information with market context.
This for-sale flex condo property features two units with two bays, totaling approximately 6,500 square feet. The spaces are designed for flexible use and include multiple offices, bathrooms, a kitchenette, and open warehouse area, with the ability to separate the units if desired.
The property is located in the Jessup area of Howard County, Maryland. Public remarks indicate a possibility for the current tenant to remain for up to two more years.
As configured, the combination of office improvements and open warehouse space supports owner-user occupancy or investment use, depending on how the units are handled at closing.
The property is located in the Jessup area of Howard County, Maryland. Public remarks indicate a possibility for the current tenant to remain for up to two more years.
As configured, the combination of office improvements and open warehouse space supports owner-user occupancy or investment use, depending on how the units are handled at closing.
Key Highlights
- Two flex condo units with two bays total, approximately 6,500 SF, available together or separately
- Each unit includes offices, bathrooms, a kitchenette, and open warehouse space
- Central air and central heating
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
$97,547
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
8.37%
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%
$1,950,940
$2.0M
Cap Rate 7%
$1,393,529
$1.4M
Cap Rate 9%
$1,083,856
$1.1M
Market Conditions
NOI Build-Up for 6,500 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
$156.0K $24.00/SF
− Vacancy
−$5.9K −$0.91/SF
EGI
$150.1K $23.09/SF
− OpEx
−$52.5K −$8.08/SF
NOI
$97.5K $15.01/SF
Area
Howard County, MD
Vacancy
3.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,950,940
Cap Rate 7%
$1,393,529
Cap Rate 9%
$1,083,856
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.22M – $1.63M
NOI $97,547 @ 7.0% cap · market cap 8.37%
Second Best
Industrial
$1.06M
$926.5K – $1.24M
NOI $74,120 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,738 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20794, MD
16,658
Population
4,230
Households
3.9
Avg Household Size
37
Median Age
29%
College-Educated
82%
High-School Grad
9.6 sq mi
ZIP Area
1,735
Density / Sq Mi
$105,441
Median Household Income
$55,191
Median Earnings
$1,940
Median Rent
$393,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two flex condo units with two bays, offices, bathrooms, kitchenette, and open warehouse space available together or separately.
Where is this flex space located?
The property is located at 8017 DORSEY RUN ROAD 1-2 Jessup, MD.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Two flex condo units with two bays total, approximately 6,500 SF, available together or separately; Each unit includes offices, bathrooms, a kitchenette, and open warehouse space; Central air and central heating
