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Property profile

11204 Racetrack Rd Berlin, MD 21811

OFF-MARKET
Office Spaces
40,000 SF Built 2004
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Property summary

AI-generated overview

The Pavilions, located at 11204 Racetrack Rd in Berlin, MD 21811, offers exceptional office space for lease. This Class C property, built in 2004, comprises three two-story buildings totaling 40,000 square feet. Currently, there are six suites available, ranging from a minimum of 707 square feet to a maximum contiguous space of 6,358 square feet, with a total of 18,575 square feet currently vacant. The property features two electric elevators for convenient access to all floors. Ample parking is available for tenants and their guests. The location provides easy access to major roadways including US 50 and US 113, placing tenants within minutes of Berlin, Ocean City, and Salisbury, as well as Ocean Pines and Atlantic General Hospital. Ground floor space is available at a base rent of $21.95 per square foot, while second-floor space is offered at $17.95 per square foot. Common area maintenance (CAM) charges are an additional $5.45 per square foot. This prime location and flexible space options make The Pavilions an ideal choice for businesses seeking a professional and convenient workspace in Worcester County.

Property profile

Verified
Property type Office Spaces
Year built 2004
Total area 40,000 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Physician
  • Physician
  • Home Health Care Service
  • Dental Office

Location

11204 Racetrack Rd Berlin, MD 21811
Berlin metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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