12 Newport DrForest Hill, MD 21050

Property Details for 12 Newport Dr

Year built

2007

Lot size

0.76 AC

Property size (Sq ft)

9,118 SF

Zone code

CI

Property type

Medical offices

Property subtype

Medical centers

APN

03-254992

APU

3254992

Description

This exceptional 9,118 square foot commercial property, located at 12B Newport Drive in Forest Hill, Maryland, presents a unique investment opportunity. The single-story, 2007-built building, renovated in 2019, is classified as Class B and features a total of three suites within a single building on a 0.76-acre lot. Currently, there is no vacant space. The property is zoned CI and boasts ample parking with 25+ spaces available, supplemented by convenient street parking. Suite B, a 3,000 square foot space, is immediately available and features 10-foot drop ceilings, two private bathrooms, and a utility area. This space is ideally suited for a variety of uses, previously occupied by a fitness center, and benefits from high visibility due to its central location between Agape Physical Therapy and Bayada. The property enjoys a prime location with significant traffic counts (19,400 cars per day on Rock Spring Rd) and a large population base (74,000 people within a 5-mile radius). The minimum divisible space is 3,000 square feet, with a maximum contiguous space also at 3,000 square feet. This property offers a blend of traditional office and medical office suitability, making it a versatile option for various businesses. An introductory lease rate is available. The property's features include signage opportunities and excellent access for clients and employees.

• CAP approach

  CAP return

  Valuation

  6%

  $1,966,051

  6.5%

  $1,814,817

  7%

  $1,685,187

• Comparable approach

  Method

  Valuation

  Relative Method

  $573,613

  Geo Method

  $573,613

• Alternative Use

  Use

  Valuation

  Residential

  $2,250,373

  Hospitality

  $2,061,329

  Educational

  $1,715,002

  Medical

  $1,773,983

  Retail

  $2,667,780

Location Insight

City

Forest Hill

County

Harford

State

Maryland

Latitude

39.5783

Longitude

-76.3815

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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