Laurel Townhome Portfolio
For Sale
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11555 Laurelwalk Dr, Laurel, MD 20708
Portfolio of 9 townhomes near major employers in Laurel, MD.
Property Size8,225 SF
Price / SF$200.61
Days on Market494
Property Features for 11555 Laurelwalk Dr
General Information
Standard status
Active
Size
8,225 SF
Property subtype
Multifamily
Zoning
RMF-20
Occupancy
100%
Building Details
Year Built
1972
Year Renovated
2014
Buildings
9
Stories
2
Units
9
Listing Agency:
Harbor Stone Advisors
Listed By:
Kevin Landolphi · License #5019982
Source:
Crexi
Added: Apr 15, 2025
Changed: Aug 8
Last Checked: Aug 20 at 4:46PM
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 Harbor Stone Advisors
Investment Insights
Based on property information with market context.
Laurelwalk Townhomes is a portfolio of 9 townhomes located within the same community in Laurel, MD. The property is near Route 295 and within 12 miles of Fort Meade, NASA Goddard Space Flight Center, and the University of Maryland, College Park. The property consists of 7 units with 2 bedrooms and 2 bathrooms, and 2 units with 3 bedrooms and 2 bathrooms. Typical unit features include black and stainless steel appliances, wood cabinets, formica countertops, in-unit washer and dryers, and carpet and tile flooring. All of the units were previously renovated in 2014 and the plumbing was updated. The property also has a Housing Assistance Payment (HAP) contract in place through August 2027 and scored a 91 on the 2025 NSPIRE inspection, qualifying the property for reduced inspection frequency (once every 3 years). The property presents an opportunity for a new owner to extend the HAP contract and increase rents based on the current cost of living adjustment. The current owner has not increased the rents in over 10 years. A new owner can also evaluate not renewing the HAP contract and lightly renovating all of the units. Comparable properties with granite countertops and LVT flooring are currently achieving rents at least 15% higher. Additionally, a new owner can explore selling the townhomes individually at contract end. Other two- and three-bedroom townhomes in the community selling for an average of $250,000.
Key Highlights
- Housing Assistance Payment (HAP) contract in place through August 2027.
- Opportunity to increase rents based on current cost of living adjustment.
- High NSPIRE inspection score (91 in 2025) qualifying for reduced inspection frequency.
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
$111,004
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
6.73%
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%
$2,220,080
$2.2M
Cap Rate 7%
$1,585,771
$1.6M
Cap Rate 9%
$1,233,378
$1.2M
Market Conditions
NOI Build-Up for 8,225 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
$215.2K $26.16/SF
− Vacancy
−$13.3K −$1.62/SF
EGI
$201.8K $24.54/SF
− OpEx
−$90.8K −$11.04/SF
NOI
$111.0K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
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%
$2,220,080
Cap Rate 7%
$1,585,771
Cap Rate 9%
$1,233,378
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,004 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,422 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 20708, MD
27,832
Population
11,023
Households
2.5
Avg Household Size
35
Median Age
41%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
2,281
Density / Sq Mi
$83,457
Median Household Income
$50,309
Median Earnings
$1,796
Median Rent
$431,500
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?
Apartment building - Portfolio of 9 townhomes near major employers in Laurel, MD.
Where is this apartment building located?
The property is located at 11555 Laurelwalk Dr Laurel, MD.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Housing Assistance Payment (HAP) contract in place through August 2027.; Opportunity to increase rents based on current cost of living adjustment.; High NSPIRE inspection score (91 in 2025) qualifying for reduced inspection frequency.
