5610 Harford Rd: 15,000 sq. ft. office building, 11.22% cap rate

5610 Harford Rd: 15,000 sq. ft. office building, 11.22% cap rate

5610 Harford Rd: 15,000 sq. ft. office building, 11.22% cap rate

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

SOLD COMP

$990,000

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Property ID :

 RH-11439-property

Sq Ft.
15000 sq ft
Year Built
1937

Description

Can you find a better deal? 5610 Harford Rd. is a 15,000 sq. ft. office building comprised of 3 floors, with a 11.22% cap rate and 18.0% 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.

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

More Than Friends, and adult day care center, occupies another 1/3 of the building (ground floor).

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. This vacant space was previously leased at $5,700/month!

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:
$995,000
$66 per square foot
6.1 Times current actual rent (GRM)
4.3 Times Projected Annual Rent (GRM)
11.22%  Cap Rate
18.0%  Projected cash-on-cash return on investment

Features

Property on Map