Renovated 6-Unit Multifamily
120 Second Street Laurel, MD 20707
120 Second Street, Laurel, MD, 20707
$1,195,000
For Sale
$1,195,000
Renovated 2020 6-unit building with 5 residential units, 1 commercial unit, and 22 parking spaces.
Property Size5,616 SF
Price / SF$212.78
Days on Market153
Property Features for 120 Second Street
General Information
- Standard status
- Active
- Size
- 5,616 SF
- Property subtype
- MultiFamily Apartments
Building Details
- Year Built
- 1900
Listing agency
ONE Street Commercial Properties
(240) 370-4103
Listed by
Kevin Brandes
(240) 370-4103
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 20 at 6:52PM Checked: Jul 21 at 3:05AM
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 ONE Street Commercial Properties
Investment Insights
Based on property information with market context.
Renovated in 2020, this 5,616 SF multifamily building was constructed in 1900 and now offers a total of 6 units, including 5 residential units and 1 commercial unit. The property includes 22 parking spaces and is currently described as 100% occupied. It also carries special zoning exemption treatment and is zoned CG.
Located on Route 1 in the Laurel area, the building is positioned for strong daily visibility, with the remarks citing approximately 30,000 cars passing by each day. The property is described as being close to the downtown/historic main street area with access to local conveniences and public transportation. Additional nearby references in the remarks include the Patuxent River for outdoor activities and the historic Laurel Park, noted as a few minutes away.
Overall, the offering combines residential income and one commercial unit within a renovated, parking-supported structure on a heavily traveled corridor.
Located on Route 1 in the Laurel area, the building is positioned for strong daily visibility, with the remarks citing approximately 30,000 cars passing by each day. The property is described as being close to the downtown/historic main street area with access to local conveniences and public transportation. Additional nearby references in the remarks include the Patuxent River for outdoor activities and the historic Laurel Park, noted as a few minutes away.
Overall, the offering combines residential income and one commercial unit within a renovated, parking-supported structure on a heavily traveled corridor.
Key Highlights
- Renovated in 2020: 5,616 SF mixed‑use building built in 1900 with 6 units total (5 residential, 1 commercial).
- Zoned CG (commercial general) and described as having a special zoning exemption.
- Includes 22 parking spaces.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.9k | $26.16 |
| − Vacancy | −$9.1k | −$1.62 |
| EGI | $137.8k | $24.54 |
| − OpEx | −$62.0k | −$11.04 |
| NOI | $75.8k | $13.50 |
5,616 SF · lease $26.16/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$947.4K – $1.26M
NOI $75,793 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $114,998 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Providence Auto Rentals
Car Rental Facility
meovalor electric
General Contractor
Construction Law Group
Law Firm
Nichols & Hurtt Lawyers
Law Firm
James Nancy
Law Firm
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FAQs
What type of property is this?
Apartment building - Renovated 2020 6-unit building with 5 residential units, 1 commercial unit, and 22 parking spaces.
Where is this apartment building located?
The property is located at 120 Second Street Laurel, MD.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Renovated in 2020: 5,616 SF mixed‑use building built in 1900 with 6 units total (5 residential, 1 commercial).; Zoned CG (commercial general) and described as having a special zoning exemption.; Includes 22 parking spaces.
