5610 Harford Rd: 15,000 sq. ft. office building, 10.17% cap rate

5610 Harford Rd: 15,000 sq. ft. office building, 10.17% cap rate

5610 Harford Rd: 15,000 sq. ft. office building, 10.17% cap rate

5610, Harford Road, Westfield, Towson, Maryland, 21214, USA

For Sale

$1,100,000

Property ID :

 RH-11439-property

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Sq Ft.
15000 sq ft

Description

Can you find a better deal? 5610 Harford Rd. is a 15,000 sq. ft. office building comprised of 3 floors, with a 10.17% cap rate and 14.5% projected cash-on-cash return on investment.

Elevator service makes all floors ADA-accessible. Fire sprinkler systems on ground floor and second floor. C-2 zoning allows many business uses, including office, day care, and restaurant. Building is currently built-out as and has historically been used as office space. Currently 73% occupied.

Baltimore City Health Department WIC program, a long-term tenant tenant since 2004, occupies 1/3 of the building (ground floor).

Middle floor is fully occupied by an adult day care center and a contracting company.

Top floor is partly occupied by owner, who can sign a long-term lease and stay or vacate depending on purchaser’s preference. 4,000 +/- sq. ft. is currently vacant, making this building perfect for either an owner/user or an investor.

Hamilton was named #4 in Redfin’s top “10 hottest affordable neighborhoods in the U.S.” Jump on this chance to own a cash-producing asset in an up-and-coming neighborhood!

OFFERING SUMMARY:
$1,100,000
$74  per square foot
6.7 Times current actual rent (GRM)
4.47 Times Projected Annual Rent (GRM)
10.17%  Cap Rate
14.5%  Projected cash-on-cash return on investment

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