Maryland Commercial Real Estate Loans
Capital for investors who buy, refinance, or build retail, office, industrial, and mixed-use property anywhere in Maryland. We size each loan around the project’s cost, value, and income rather than your tax returns, then move quickly: construction pricing from 9.5%, leverage up to 85% of cost, and closings in as few as 10-20 days.
- Ground-up construction, acquisition, bridge, and refinance financing
- Up to 85% loan-to-cost and up to 75% of completed value
- Retail, medical office, industrial, flex, and mixed-use projects
- Underwriting that accounts for Critical Area and floodplain requirements
- LLCs, developers & foreign nationals welcome · all 23 counties & Baltimore City
- Describe the propertyLocation, property type, land or purchase price, and total budget.
- Receive a same-day term sheetWe size the loan around cost, value, and expected income.
- Close and get to workYour first draw funds quickly, and later draws follow inspections.
Property types
Commercial properties we finance across Maryland
Whether the site is a busy suburban corner or a tight urban infill lot, we evaluate each project on its own economics:
Retail & Shopping Centers
Grocery-anchored strips, neighborhood centers, and pad sites near growing residential communities.Industrial & Flex
Distribution buildings, small-bay flex, and last-mile warehouses close to ports and interstates.Office & Medical Office
Professional suites, outpatient clinics, and specialty medical buildings in established submarkets.Mixed-Use & Multifamily
Ground-floor retail with apartments or offices above, suited to walkable downtown districts.Commercial financing
How a Maryland commercial real estate loan works
A commercial real estate loan is secured by property that earns income or houses a business, and lenders judge it mainly by what the asset can produce. That is different from a home mortgage. We review the purchase price or build budget, the likely rents, the location, and the plan, and then we structure funding to match the job. A buyer closing on an occupied center needs a different loan than a developer clearing a vacant lot, so we offer several paths instead of one rigid product.
For new construction, funds are released in stages as inspected work is completed, and you pay interest only on the balance already drawn. We lend up to 85 percent of total project cost, which includes land, hard costs, and soft costs, and up to 75 percent of the building’s projected value on completion. When the building is finished, you can sell it, refinance it into a long-term loan, or use a one-time-close structure that converts automatically. Because Maryland adds its own environmental and stormwater considerations, we also review Chesapeake Bay Critical Area, floodplain, and stormwater documentation early so your schedule is not derailed at appraisal.
| Collateral | The land and the commercial property being purchased, refinanced, or built |
| Loan amount | $100,000 to $100,000,000 |
| Construction leverage | Up to 85% of total cost · up to 75% of completed value |
| Construction structure | Interest-only · pricing from 9.5% · 12-24 month term · draws against inspected work |
| Maryland factors | Critical Area, floodplain, stormwater, and forest-conservation requirements reviewed where applicable; permitting varies by county |
| Borrower | Individual, LLC, or development entity · foreign nationals eligible |
| Coverage | All 23 counties and Baltimore City, from the Bay to the mountains |
Loan programs
Maryland commercial loan programs
Pick the structure that fits where your property is in its life cycle:
Ground-Up Construction
Interest-only funding for new retail, office, industrial, and mixed-use buildings, released as work is inspected.
Land Plus Construction
Buy the parcel and fund the building together, so you are not arranging separate loans for lot and structure.
Acquisition & Bridge
Short-term capital to secure a property that needs lease-up, repositioning, or renovation before permanent financing.
Refinance & Exit
Take out a construction or bridge loan once the building is complete and leased, including one-time-close options.
Why build commercial in Maryland
Why investors choose to construct, not just buy
- A large, high-income customer baseMaryland counted about 6.27 million residents in July 2025, with suburban incomes that reach near $191,000 in places like Bethesda, and every household needs shopping, medical care, jobs, and storage.
- Building can beat buyingNew construction lets you design for modern tenants and lock in a cost basis that may deliver a better yield than purchasing a finished, fully priced asset.
- Many distinct marketsA major port, federal and defense employers, biotech corridors, a state capital, and historic downtowns each create a different commercial niche.
- A lender that knows the stateBay-area environmental rules, flood zones, and county permitting realities are priced into our process from the first conversation.
Free tool
Commercial construction budget & yield calculator
Estimate total project cost, loan amount, required equity, and interest carry, then compare your expected net operating income to the all-in cost. The interest estimate assumes the outstanding balance averages about half the loan over the build. Illustrative only.
Your project
Illustrative only; not a commitment to lend. Excludes permits, impact fees, insurance, reserves, and closing costs. Interest rate and NOI are example inputs, not a quote or a forecast.
How we compare
CambridgeHomeLoan vs. typical Maryland banks
Community banks and credit unions can offer good terms to existing customers, but approvals often hinge on a long relationship and a slow committee process. Here is how our approach usually differs, with our advantages highlighted.
| Feature | CambridgeHomeLoan | Typical Maryland Bank |
|---|---|---|
| Qualifies on | Project cost, value & plan | Relationship plus the project |
| Documentation | Streamlined | Full financials, often deposits |
| Time to close | As fast as 10-20 days | Often 45-90+ days |
| Draw turnaround | Typically 3-5 days | Often 1-2 weeks or longer |
| Waterfront & Critical Area sites | Underwritten routinely | Often restricted |
| Exit options | In-house one-time-close | Usually a separate loan |
Bank column is a generic composite of commonly seen terms as of 2026 and does not describe any specific lender.
Top construction markets
12 Maryland cities where commercial construction makes sense
Maryland is a compact state with very different markets, from the Baltimore port to the Washington suburbs and the Eastern Shore. Below is a snapshot of twelve of its most active areas for commercial construction loans, with population figures from the U.S. Census Bureau and the Maryland Department of Planning, income data from the American Community Survey, home-value data from Zillow, and the employers and shopping centers that shape demand.
Baltimore
Baltimore is Maryland’s largest city, with about 569,997 residents in the Census Bureau’s 2025 estimate, and it anchors a region of roughly 2.8 million people. T. Rowe Price, Under Armour, and Constellation Energy are headquartered here, Johns Hopkins is a huge employer, and the Port of Baltimore and the Tradepoint Atlantic industrial campus at Sparrows Point drive logistics demand. Zillow puts the typical city home value near $186,741 as of August 2026, with average asking rent around $1,802, so basis is low and rental demand is steady. Harbor East and the waterfront show what new commercial space can earn.
Columbia
Columbia is a planned city of about 105,871 residents with a median household income near $129,173, according to the 2023 American Community Survey, and it sits in Howard County, projected by the state at about 345,700 people in 2025. COPT Defense Properties and Merkle are based here, The Mall in Columbia and Downtown Columbia anchor retail and mixed-use, and Columbia Gateway draws technology and defense-related tenants. Midway between Baltimore and Washington, it supports medical office, flex, and neighborhood retail for an affluent, well-educated customer base.
Bethesda
Bethesda reported a median household income near $191,348, the highest among Maryland cities above 50,000 people, based on the 2023 American Community Survey, with about 67,403 residents. Marriott International, Lockheed Martin, and Host Hotels are headquartered here, and the National Institutes of Health and Walter Reed National Military Medical Center sit nearby. Westfield Montgomery and Bethesda Row anchor retail. High incomes and tight land supply favor boutique office, medical, and mixed-use construction, though entitlement and costs are demanding.
Rockville
Rockville counted about 67,563 residents in 2025 and serves as the Montgomery County seat. The Nuclear Regulatory Commission is headquartered here, Adventist HealthCare is based locally, and the Shady Grove life-sciences corridor along I-270 attracts lab, office, and research tenants. Rockville Town Square and the Pike & Rose district add walkable retail and apartments. Biotech growth and federal employment support steady demand for medical office, lab-ready flex space, and service retail, making it a favorite for investors seeking stable, credit-quality tenants.
Silver Spring
Silver Spring is home to about 82,129 people, according to the 2023 American Community Survey, and its median household income is near $98,880. The FDA’s White Oak campus and NOAA’s headquarters are major federal employers, and Downtown Silver Spring offers dense retail, dining, and apartment life on the Metro Red Line. Its position just north of Washington gives builders access to federal workers, hospital staff, and students, supporting mixed-use projects, medical office, and neighborhood commercial space.
Gaithersburg – Germantown
Gaithersburg counts about 71,113 residents (2025) and neighboring Germantown about 90,521 (2023 American Community Survey), together forming a big piece of the I-270 technology corridor. AstraZeneca operates a large campus in Gaithersburg, Sodexo’s U.S. headquarters is located there, and the National Institute of Standards and Technology is nearby, while Hughes Network Systems is based in Germantown. Kentlands and Rio Washingtonian Center anchor retail. Life-science, flex, and service-oriented projects suit this corridor well.
Frederick
Frederick has grown from 78,171 residents in 2020 to about 92,059 in 2025, roughly 17.8 percent, making it Maryland’s second-largest city. Fort Detrick and Frederick Health employ thousands, Downtown Frederick draws visitors and diners, and Francis Scott Key Mall serves the regional shopper. The state projects Frederick County to add about 24,000 residents between 2025 and 2030, the largest gain among the Washington suburbs outside Montgomery County. That growth needs grocery-anchored retail, medical office, and flex space close to I-70 and I-270.
Annapolis
Annapolis has about 40,634 residents, but Anne Arundel County around it is projected at roughly 609,690 people in 2025. The city is the state capital and home to the U.S. Naval Academy, Annapolis Mall serves a wide trade area, and nearby BWI Marshall Airport, Fort Meade, and Arundel Mills add employment and visitors. Boating, tourism, and government jobs support hospitality-adjacent retail, professional office, and waterfront mixed-use, although Critical Area and historic-district rules require careful planning and realistic schedules.
Towson
Towson is the Baltimore County seat, with about 57,683 residents in the 2023 American Community Survey. Zillow’s typical Baltimore County home value was about $365,669 in July 2026, up roughly 0.8 percent over the prior year, and homes were going to pending in around ten days, a sign of strong local demand. Towson Town Center, Towson University, and GBMC anchor the area, and McCormick is headquartered nearby in Hunt Valley. Medical office, student-oriented services, and suburban retail are natural fits.
Bowie
Bowie counted about 58,383 residents in 2025 and reported a median household income near $141,831 in the 2023 American Community Survey. Bowie State University and Bowie Town Center are local anchors, and its position between Washington, Annapolis, and Baltimore gives retailers and service tenants access to several large trade areas. Comfortable suburban incomes favor medical office, neighborhood retail, and self-storage, while nearby Prince George’s County employment centers keep commercial leasing active.
Hagerstown
Hagerstown had about 44,228 residents in 2025 and sits where I-70 meets I-81, giving it direct truck access up and down the East Coast. Lower land costs than the Baltimore-Washington core make ground-up warehouse and distribution projects more feasible, while Meritus Health and Valley Mall anchor services and retail. Investors who build logistics and flex space here can reach trucking routes and several large metros within a few hours, at a basis well below central Maryland.
Salisbury
Salisbury counted about 33,845 residents in 2025 and is the commercial hub of Maryland’s Eastern Shore. Perdue Farms is headquartered here, TidalHealth Peninsula Regional and Salisbury University are large employers, and the Centre at Salisbury serves a wide retail trade area. The city is also a gateway to Ocean City and the beaches, so seasonal demand supports restaurants, hospitality-adjacent retail, and services. Medical office and agribusiness-related industrial space are other natural projects.
Population figures are the latest Census Bureau or Maryland Department of Planning estimates (2025) unless marked ACS 2023, which are American Community Survey estimates. Zillow values are the Zillow Home Value Index for mid-2026 and change monthly. Employers and centers are named for market context only and do not imply any relationship with them.
We fund projects all over Maryland. If your city is not listed, call us or submit your application and we will confirm.
How it works
Get your Maryland commercial loan in three steps
Send the project details
Share the location, property type, plans, total budget, and whether you plan to sell, lease, or hold.
Receive a same-day term sheet
We review cost, expected value, and your experience, then return clear terms with minimal paperwork.
Close and start drawing
We close, fund your first draw, and release later draws promptly as each stage passes inspection.
Requirements
Maryland commercial loan requirements
| Equity | As little as 15-20% of total project cost, depending on experience and the project |
| Credit | 640+ FICO typical; deal-first, with exceptions considered |
| Income documents | Streamlined and asset-based; personal income is not the main driver |
| Plans & permits | Approved plans and county permits (or in process), building-code compliance, and stormwater, floodplain, and Critical Area documentation where applicable |
| Vesting | Individual, LLC, or development entity · foreign nationals eligible |
| Exit | Sale on completion, or refinance into a long-term loan |
Answers
Maryland commercial real estate loan FAQ
What is a Maryland commercial real estate loan?
A Maryland commercial real estate loan finances income-producing or business-use property such as retail centers, office and medical buildings, industrial and flex space, and mixed-use projects. Instead of leaning on personal income, we look at the property, its cost or value, its projected or actual rents, and your plan for it. Funding can cover a purchase, a refinance, bridge capital, or a ground-up build, and we lend in all 23 Maryland counties and Baltimore City.
How much can I borrow for ground-up commercial construction?
Construction loans run from $100,000 to $100,000,000. Leverage reaches up to 85 percent of total project cost and up to 75 percent of the completed value, and we size the loan to whichever measure is more conservative. Pricing starts at 9.5 percent on an interest-only term of 12 to 24 months.
Do you lend on waterfront and Chesapeake Bay Critical Area sites?
Yes. Waterfront, floodplain, and Critical Area sites are a normal part of Maryland lending, and we underwrite them with that in mind. We review flood designation, elevation certificates, stormwater management plans, and any Critical Area buffer and lot-coverage limits, along with county permits. Your design team will usually already be building to these rules; we simply need the documentation in your file.
How do construction draws work?
You receive an initial draw at closing to start work, then request additional draws as each phase, such as site work, foundation, structure, and interior build-out, is finished. We inspect the completed work before releasing funds and typically turn draws around in about three to five days. Because interest accrues only on money already drawn, carrying costs stay lower early in the project.
Can I buy land and build in a single loan?
Yes. Our land-plus-construction structure can fund the lot purchase and the vertical build together in one transaction. If you already own the land, its value generally counts toward your required equity in the project.
What happens when the building is finished?
After the certificate of occupancy, you can sell the property and repay the loan from proceeds, refinance into a long-term commercial loan, or convert automatically if you chose a one-time-close structure. Many investors lease up the building first so the long-term lender underwrites a stabilized income stream.
Do you finance projects in cities that are not listed on this page?
Yes. The cities above are a sample of Maryland’s most active commercial markets, not a limit. If your project is somewhere else in the state, call us or submit an application and we will confirm the details.
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© 2026 CambridgeHomeLoan.com · NMLS #1826020 · 4830 W Kennedy Blvd, Tampa, FL 33609 · (800) 826-5077 · Equal Housing Lender. Commercial real estate and construction loans are business-purpose loans and are not available for primary residences. Rates, points, loan-to-cost, loan-to-value, terms, draw schedules, and closing timelines are illustrative, subject to change without notice, and subject to borrower, property, and project qualification and underwriting approval. “Rates from 9.5%,” “up to 85% loan-to-cost,” and other maximums reflect the strongest profiles and are not a quote or commitment to lend. Completed values are estimates confirmed by appraisal. Calculator results are illustrative and exclude permits, impact fees, insurance, reserves, and closing costs. Population and housing figures come from the U.S. Census Bureau, the Maryland Department of Planning, and Zillow, are approximate, and may have changed. Employer and shopping-center names are used only to describe local markets and do not imply endorsement or affiliation. City descriptions are general observations, not property-specific or investment advice. Comparison figures are generic composites and do not describe any specific lender. Illustrations are artwork and do not depict specific properties. Borrowers must confirm applicable building code, floodplain, Critical Area, stormwater, zoning, and permitting requirements with licensed professionals. This page is informational and is not financial, legal, tax, or investment advice.