Calculate cap rates and net operating income for commercial properties in Maryland. Compare your results against Maryland's primary market benchmarks sourced from CBRE H2 2025.
Maryland is part of the Washington DC gateway metro, with suburban MD submarkets (Bethesda, Silver Spring, Rockville, Bowie) benefiting from federal government employment and defense contractor presence. Baltimore has a distinct market driven by Johns Hopkins, the Port of Baltimore, and a growing life sciences cluster. The DC metro's influence compresses cap rates in Montgomery and Prince George's counties.
| Property Type | Typical Low % | Typical High % |
|---|---|---|
| Multifamily | 4.5% | 6.0% |
| Industrial | 5.0% | 6.5% |
| Retail | 5.5% | 7.5% |
| Office | 6.5% | 9.0% |
Benchmarks sourced from CBRE H2 2025 Cap Rate Survey, JP Morgan, Matthews, and Cushman & Wakefield market data. Ranges represent typical stabilized assets — actual rates vary by asset quality, location, and market conditions.
Maryland cap rates range from 4.5–6.0% for multifamily, 5.0–6.5% for industrial, 5.5–7.5% for retail, and 6.5–9.0% for office. DC-adjacent counties (Montgomery, Prince George's) trend toward the lower end, while Baltimore and rural Maryland markets are higher.
Montgomery and Prince George's counties effectively function as DC suburbs, attracting federal employees, defense contractors (Lockheed Martin, Northrop Grumman), and life sciences firms (due to NIH and FDA proximity). This federal employment base provides income stability that compresses cap rates in those submarkets toward gateway levels.
Baltimore's CRE is driven by Johns Hopkins University and Health System (one of the nation's largest employers), the Port of Baltimore, healthcare and life sciences (growing biotech cluster in the I-270/270 corridor), and an emerging cybersecurity sector anchored by federal agencies. The city offers value-add opportunities at higher yields than DC suburbs.
This tool is for informational and educational reference only and does not constitute real estate investment advice. Cap rate benchmarks are estimates based on published industry surveys and may not reflect current conditions in your specific market, submarket, or asset class. Actual cap rates vary significantly based on property condition, location, tenant quality, lease terms, and local market dynamics. Always consult a licensed commercial real estate broker, appraiser, or investment advisor before making real estate investment decisions.