Renovated Triplex With
For Sale
$599,900
104 Lincoln Avenue Southwest, Glen Burnie, MD 21061
Three residential units were renovated in 2018 and include washers and dryers.
Property Size2,090 SF
Price / SF$287.03
Days on Market237
Property Features for 104 Lincoln Avenue Southwest
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Multi-Family / Fee Simple
Zoning
PUBLIC RECORD
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,255
Amenities
washer and dryer
No
Cooktop, Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Range Hood, Stove, Washer
No Pool
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Mellow International Realty Inc
(240) 643-6708
Listed By:
Nan Wu · License #BR200201040
(240) 643-6708
Source:
Compass
Added: Jan 6
Changed: Aug 30
Last Checked: Aug 30 at 2:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mellow International Realty Inc
Investment Insights
Based on property information with market context.
This 2,090-square-foot triplex was built in 1960 and contains three residential units with a varied bedroom and bath configuration. Unit C occupies the upper level with 2 bedrooms and 1 full bath and is currently vacant. The main-floor residence provides 3 bedrooms and 2 baths, while the basement unit offers 3 bedrooms and 1 full bath. Each unit includes essential kitchen appliances, a washer, and a dryer, and all three residences were renovated in 2018.
Two units are occupied under leases that may be transferred to the buyer. The property is located at 104 Lincoln Avenue Southwest in Glen Burnie, near downtown and major highways. It is outside city limits and falls within Anne Arundel County Public Schools. Zoning is identified as PUBLIC RECORD.
Two units are occupied under leases that may be transferred to the buyer. The property is located at 104 Lincoln Avenue Southwest in Glen Burnie, near downtown and major highways. It is outside city limits and falls within Anne Arundel County Public Schools. Zoning is identified as PUBLIC RECORD.
Key Highlights
- Three‑unit residential property with 2,090 SF of building area
- Unit mix includes 2‑bedroom/1‑bath, 3‑bedroom/2‑bath, and 3‑bedroom/1‑bath residences
- All units were renovated in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,367
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,340
$607.3K
Cap Rate 7%
$433,814
$433.8K
Cap Rate 9%
$337,411
$337.4K
Market Conditions
NOI Build-Up for 2,090 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.4K $22.20/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$43.4K $20.76/SF
− OpEx
−$13.0K −$6.23/SF
NOI
$30.4K $14.53/SF
Area
Anne Arundel County, MD
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,340
Cap Rate 7%
$433,814
Cap Rate 9%
$337,411
Alternative Uses
Best Use
Multifamily LT 5
$433.8K
$379.6K – $506.1K
NOI $30,367 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$403.0K
$352.6K – $470.1K
NOI $28,207 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$611.4K
$535.0K – $713.3K
NOI $42,797 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 21061, MD
57,352
Population
23,196
Households
2.5
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
12.2 sq mi
ZIP Area
4,701
Density / Sq Mi
$86,081
Median Household Income
$48,429
Median Earnings
$1,661
Median Rent
$326,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units were renovated in 2018 and include washers and dryers.
Where is this triplex located?
The property is located at 104 Lincoln Avenue Southwest Glen Burnie, MD.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑unit residential property with 2,090 SF of building area; Unit mix includes 2‑bedroom/1‑bath, 3‑bedroom/2‑bath, and 3‑bedroom/1‑bath residences; All units were renovated in 2018
