- Photos
- 1 of 53
Medical Condo For Sale • 967 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 4th Floor - Unit 408 | Medical | 967 SF | $174,060 USD | |
DescriptionFully improved medical office condominium. The floor plan features 3 rooms with sinks, nurse station with sink, restroom, storage, front office area and reception. The suite entry door is right off the elevator lobby. The sale price includes one covered reserved parking space and a rental storage unit on the lower level. Plenty of free and unreserved parking for staff and patients. The main lobby has been recently remodeled with new paint and digital directory board. The property is located on the campus of The University of Maryland St Joseph Medical Center. Sale NotesLocal lenders are offering competitive owner occupancy financing as well as 100% financing for qualified medical uses. Assume an 80/20 LTV with 20% down payment and financing $139,248 @ 6% interest and a 25 year amortization = $897.18 monthly ($11.13 sf) plus $680 monthly condo fees and annual real estate taxes of $2,402 annual/$200.17 monthly. Current tenant rent is $1961.33 monthly. Lease expires 8/31/26. The tenant will vacate at lease expiration (no lease renewal option in the lease) or sign a 2-3 year lease renewal with an investor. Current revenue $23,536 less annual condo fees and real estate taxes of $10,562 = $12,974 net operating income or 7% cap rate. |
||||
Fully improved medical office condominium. The floor plan features 3 rooms with sinks, nurse station with sink, restroom, storage, front office area and reception. The suite entry door is right off the elevator lobby. The sale price includes one covered reserved parking space and a rental storage unit on the lower level. Plenty of free and unreserved parking for staff and patients. The main lobby has been recently remodeled with new paint and digital directory board. The property is located on the campus of The University of Maryland St Joseph Medical Center. The unit is currently leased to an OB/GYN Physician and the lease expires 8/31/26. Tenant can vacate at the lease expiration to allow for owner occupancy or will sign a 2-3 year lease renewal for an investment property. The LL pays the condo fees, real estate taxes and HVAC maintenance. The tenant pays the BGE bill and clean their own suite. Current monthly rent is $1961.33. ($24.34 sf)
| Fully improved medical office |
| Three rooms with hand sinks |
| Corner unit with windows in all rooms and front office |
| One reserved garage parking space for the Dr. |
| Located on the hospital campus with free parking for patients & staff |
| Why lease when you can own for less? |
| Cap Rate: | 7.45 % |
| Total Expenses: | $11 USD |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Advanced Dental Care of Towson | ||
| Dr. Meera Ajit Rawtani, M.D. | ||
| Dr. Richard O'Malley, M.D. | ||
| Dr. Robert Clayton, M.D. | ||
| nardine assaad md llc | ||
| Optimal Healthcare Services, LLC | ||
| P. Guildener, LCSW-C, MEd | ||
| Susie N. Chung, M.D., P.A. FACOG | ||
| Thomas Llewellyn D.D.S. and Associates, P.A. | ||
| Towson Pediatrics |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Penn Station (Penn Line - Maryland Area Regional Commuter Trains (The MARC)) | 17 min | - | 6.1 mi |
| 23 min | - | 8.0 mi | |
| Airport | Drive | Walk | Distance |
| Baltimore/Washington International Thurgood Marshall | 38 min | - | 17.6 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 80 |
| Type: | Surface |
| Included in Rent: | Yes |
Christopher Smith
TriAlliance Commercial Real Estate Services
Christopher Smith
TriAlliance Commercial Real Estate Services