Multi-Suite Medical Office
For Sale
$8,500,000
901 Pine Heights Avenue, Baltimore, MD 21229
All 24 suites are leased to medical users at a hospital campus location.
Property Size36,405 SF
Lot Size2.13 Acres
Price / SF$233.48
Days on Market10
Property Features for 901 Pine Heights Avenue
General Information
Standard status
Active
Size
36,405 SF
Lot size
2.13 Acres
Property subtype
Medical
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
24
Building Details
Building Size
36,405 SF
Buildings
1
Tenancy
Multi
Listing Agency:
MacKenzie Commercial Real Estate | Baltimore
Listed By:
Owen Rouse, Jr.
(410) 494-6654
Source:
Mackenziecommercial
Added: Sep 26
Last Checked: Oct 5 at 3:04PM
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 MacKenzie Commercial Real Estate | Baltimore
Investment Insights
Based on property information with market context.
At 901 Pine Heights Avenue in Baltimore, this 36,405-square-foot medical office property contains 24 occupied suites leased to a range of medical users. The building has 100% occupancy and a 4.9-year WALT. Capital improvements were completed during current ownership.
The 2.13-acre property is situated on the Ascension St. Agnes Hospital campus. It has parking and road frontage on Pine Heights Avenue and Wilkens Avenue (US Route 1).
The 2.13-acre property is situated on the Ascension St. Agnes Hospital campus. It has parking and road frontage on Pine Heights Avenue and Wilkens Avenue (US Route 1).
Key Highlights
- 36,405 SF medical office building with 24 occupied suites
- 100% leased to a variety of medical users
- 4.9‑year WALT
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$524,756
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,495,120
$10.5M
Cap Rate 7%
$7,496,514
$7.5M
Cap Rate 9%
$5,830,622
$5.8M
Market Conditions
NOI Build-Up for 36,405 SF
Gross rent
$961.1K $26.40/SF
− Vacancy
−$86.5K −$2.38/SF
EGI
$874.6K $24.02/SF
− OpEx
−$349.8K −$9.61/SF
NOI
$524.8K $14.41/SF
Area
ZIP 21229
Vacancy
9.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,495,120
Cap Rate 7%
$7,496,514
Cap Rate 9%
$5,830,622
Alternative Uses
Best Use
Healthcare Medical
$7.50M
$6.56M – $8.75M
NOI $524,756 @ 7.0% cap · market cap 6.17%
Second Best
Office B
$6.95M
$6.08M – $8.11M
NOI $486,553 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$8.68M
$7.59M – $10.13M
NOI $607,550 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
24
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21229, MD
43,464
Population
20,653
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
7,367
Density / Sq Mi
$55,457
Median Household Income
$40,627
Median Earnings
$1,210
Median Rent
$184,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Baltimore, MD
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - All 24 suites are leased to medical users at a hospital campus location.
Where is this medical office space located?
The property is located at 901 Pine Heights Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 36,405 SF medical office building with 24 occupied suites; 100% leased to a variety of medical users; 4.9‑year WALT
