5550 Sterrett PlColumbia, MD 21044

Property Details for 5550 Sterrett Pl

Year built

1980

Lot size

0.71 AC

Property size (Sq ft)

20,798 SF

Property type

Commercial real estate

APN

15-138548

APU

15138548

Description

This three-story, 41,388 square foot Class B medical office building, constructed in 1980 and renovated in 2007, offers a unique opportunity in Columbia, MD. Located at 5550 Sterrett Pl, 21044, this mixed-use property boasts an attractive brick and glass exterior and features 1,075 square feet of immediately available space, in addition to other occupied suites. The building provides 200 parking spaces, a significant advantage in this high-demand area. First-floor units are ideal for retail or medical uses, while the second and third floors offer full-service leases at $23.50 per square foot, inclusive of utilities, weekday cleaning, operating expenses, taxes, and maintenance. The 10-foot ceilings provide ample space and light. Enjoy a prime location in the Columbia Town Center, conveniently situated off Little Patuxent Parkway, across from The Mall in Columbia, and adjacent to the new Lakefront Wellness District. Excellent access to major roadways, including Routes 29, 100, 70, I-695, and I-95, ensures easy commuting for both staff and clients. This is a rare opportunity to secure space in a thriving, well-maintained building within a highly desirable location. One available space is 718 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $4,660,580

  6.5%

  $4,302,070

  7%

  $3,994,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,413,050

  Geo Method

  $1,308,400

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $8,356,690

  Retail / Commercial

  $4,307,410

  Mixed-Use / Specialty

  $4,309,500

  Hospitality / Lodging

  $3,184,460

  Office

  $4,302,070

  Institutional / Educational

  $4,486,380

  Residential Income

  $5,249,060

  Multifamily

  $6,198,720

  Automotive / Energy

  $3,845,470

  Parking / Income-Based Land

  $1,309,790

  Restaurant / Food Service

  $2,278,640

  Healthcare / Senior Housing

  $4,401,420

Location Insight

City

Columbia

County

Howard

State

Maryland

Latitude

39.2199

Longitude

-76.8572

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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