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120 Sister Pierre Dr - The Professional Centre 967 SF Medical Condo Unit Offered at $242,239 CAD in Towson, MD 21204
Investment Highlights
- Fully improved medical office
- Corner unit with windows in all rooms and front office
- Located on the hospital campus with free parking for patients & staff
- Three rooms with hand sinks
- One reserved garage parking space for the Dr.
- Why lease when you can own for less?
Executive Summary
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)
Property Facts
| Total Building Size | 46,319 SF | Typical Floor Size | 9,263 SF |
| Property Type | Office (Condo) | Year Built | 1986 |
| Property Subtype | Medical | Lot Size | 2.00 AC |
| Building Class | B | Parking Ratio | 4.19/1,000 SF |
| Floors | 5 | ||
| Zoning | OR-1, County - Office/Medical/Dental/Mental Health uses permitted | ||
| Total Building Size | 46,319 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 9,263 SF |
| Year Built | 1986 |
| Lot Size | 2.00 AC |
| Parking Ratio | 4.19/1,000 SF |
| Zoning | OR-1, County - Office/Medical/Dental/Mental Health uses permitted |
Amenities
- Bus Line
1 Unit Available
Unit 408
| Unit Size | 967 SF | Sale Type | Investment or Owner User |
| Price | $242,239 CAD | Cap Rate | 7.45% |
| Price Per SF | $250.51 CAD | NOI | $18,055.92 CAD |
| Condo Use | Medical | No. Parking Spaces | 1 |
| Unit Size | 967 SF |
| Price | $242,239 CAD |
| Price Per SF | $250.51 CAD |
| Condo Use | Medical |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.45% |
| NOI | $18,055.92 CAD |
| No. Parking Spaces | 1 |
Description
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.
Sale Notes
Local 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.
Screenshot 2026-04-03 085623
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120 Sister Pierre Dr - The Professional Centre
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