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    8340 Langmaid Rd Newark, MD 21841

    For Sale
    $785,000

    Four-unit renovated apartment building near the beach.

    Property size:
    4,736 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 4,736 square foot multi-family property, situated on a 0.74-acre lot at 8340 Langmaid Road in Newark, Maryland, presents a unique investment opportunity. The building has undergone a complete renovation, transforming it into a highly desirable rental property with significant upside potential. Each of the four units boasts two bedrooms and one bathroom, complemented by a private garage. The extensive renovation included the installation of brand new granite countertops and stainless steel appliances in every kitchen. Modern upgrades extend throughout, encompassing all new flooring, electrical systems, heating and air conditioning, roofing, siding, and garage doors. The property's proximity to the beach offers tenants a desirable coastal lifestyle, while its slightly removed location ensures a peaceful, serene environment. The flexible design allows for continued operation as a four-unit apartment building, or the property could be easily converted into individual condominiums, catering to a diverse range of buyers and renters. The high-quality renovations and prime location make this a strong investment prospect with excellent potential for long-term rental income or condominium sales. The property is priced at $785,000 and offers a compelling return on investment. This is a rare opportunity to acquire a turnkey, fully renovated multi-family property in a highly sought-after location.

    Property Features for 8340 Langmaid Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,736 SF
    Lot Size
    32,234 SF

    Building Details

    Year Built
    1986
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Auto Repair Shop Auto Parts Store Convenience Store Smoke and Vape Shop Barber Shop Parking Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Worcester
    State
    Maryland
    Longitude
    -75.28822
    Latitude
    38.24902

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    Nearby Similar for Sale

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      Renovated Home on Gated Acres

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      Remodeled Four-Unit Apartment Building

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      8340 Langmaid Rd, Newark, MD 21841
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    FAQs

    What type of property is this?
    Commercial real estate - Four-unit renovated apartment building near the beach.
    Where is this commercial real estate located?
    The property is located at 8340 Langmaid Rd Newark, MD.
    What is the asking price?
    The asking price for this property is $785,000.
    (410) 677-0909
    Request Owner's contact information
    8340 Langmaid Rd Newark, MD 21841
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    Newark, MD 21841
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8340 Langmaid Rd Newark, MD 21841
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