620 Boulton StBel Air, MD 21014

Property Details for 620 Boulton St

Year built

1986

Construction

BRICK

Lot size

1.22 AC

Property size (Sq ft)

21,008 SF

Zone code

M1

Property type

Office properties

Property subtype

Office buildings

APN

03-010937

APU

3010937

Description

This exceptional 20,000-square-foot medical office building in Bel Air, MD, presents a rare investment opportunity. The property, constructed in 1986 and renovated in 2012, features two suites totaling 20,000 square feet, currently fully vacant. The minimum divisible space is 10,000 square feet, with a maximum contiguous space of 20,000 square feet. The building boasts a Class B rating, two stories, and an elevator. Situated on 1.22 acres of land, it includes ample parking with 70 spaces on-site and an additional 30 spaces in a rear lot. The building's zoning is B3. Its prime location in Bel Air offers high visibility, with 13,000 cars passing daily on Boulton Street and 42,000 cars daily on nearby Route 24. The property benefits from its proximity to national retailers, Harford Mall, new developments, and the University of Maryland Upper Chesapeake Medical Center. The building's design includes 15,000 square feet of clinic space and a 5,000-square-foot ambulatory surgical center. Numerous improvements have been made since 2015. This turnkey property offers a proven track record of medical success and is ideal for an end-user seeking to establish or expand their presence in the thriving Bel Air market. The property is available for sale or lease.

• CAP approach

  CAP return

  Valuation

  6%

  $4,529,810

  6.5%

  $4,181,363

  7%

  $3,882,694

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,321,613

  Geo Method

  $1,321,613

• Alternative Use

  Use

  Valuation

  Residential

  $5,184,890

  Hospitality

  $4,749,332

  Educational

  $3,951,388

  Medical

  $4,087,282

  Retail

  $6,146,604

Location Insight

City

Bel Air

County

Harford

State

Maryland

Latitude

39.5266

Longitude

-76.3604

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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