Assisted Living
New
For Sale
$2,300,000
9619 PULASKI HIGHWAY, Baltimore, MD 21220
Property offering flexible potential for assisted living, lodging, office, and other commercial applications.
Property Size6,719 SF
Price / SF$342.31
Days on Market4
Property Features for 9619 PULASKI HIGHWAY
General Information
Standard status
Active
Size
6,719 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
Eagle Commercial Realty
(410) 426-2700
Listed By:
Joseph Zorzit · License #5020659
(410) 663-9444
Source:
Cummingsrealtors
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 2:34PM
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 Eagle Commercial Realty
Investment Insights
Based on property information with market context.
This 6,719-square-foot property was built in 1955 and is identified as an assisted living facility. The asset is also presented for potential hotel, motel, office, and other commercial uses.
The property is located at 9619 Pulaski Highway in Baltimore, Maryland 21220. Its existing scale and stated use flexibility support consideration across assisted living, hospitality, and office categories.
The property is located at 9619 Pulaski Highway in Baltimore, Maryland 21220. Its existing scale and stated use flexibility support consideration across assisted living, hospitality, and office categories.
Key Highlights
- 6,719‑square‑foot property
- Built in 1955
- Presented for assisted living use
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
$93,413
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
4.06%
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%
$1,868,260
$1.9M
Cap Rate 7%
$1,334,471
$1.3M
Cap Rate 9%
$1,037,922
$1.0M
Market Conditions
NOI Build-Up for 6,719 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
$149.2K $22.20/SF
− Vacancy
−$24.6K −$3.66/SF
EGI
$124.6K $18.54/SF
− OpEx
−$31.1K −$4.63/SF
NOI
$93.4K $13.90/SF
Area
Baltimore, MD
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,868,260
Cap Rate 7%
$1,334,471
Cap Rate 9%
$1,037,922
Alternative Uses
Best Use
Office B
$1.33M
$1.17M – $1.56M
NOI $93,413 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,538 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,678 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21220, MD
44,568
Population
17,960
Households
2.5
Avg Household Size
38
Median Age
26%
College-Educated
89%
High-School Grad
21.2 sq mi
ZIP Area
2,102
Density / Sq Mi
$79,676
Median Household Income
$50,215
Median Earnings
$1,621
Median Rent
$279,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Baltimore, MD
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Property offering flexible potential for assisted living, lodging, office, and other commercial applications.
Where is this assisted living facility located?
The property is located at 9619 PULASKI HIGHWAY Baltimore, MD.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6,719‑square‑foot property; Built in 1955; Presented for assisted living use
