Renovated 6-Unit Mixed-Use
For Sale
$1,059,000
120 2ND Street, Laurel, MD 20707
Multi-Family, LAUREL, MD
Property Size5,616 SF
Lot Size0.21 Acres
Price / SF$188.57
Days on Market49
Property Features for 120 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room
Parking features
Parking Lot, Fenced, Special Needs
Interior features
Combination Kitchen/Dining, Attic, Bathroom - Tub Shower, Store/Office
Appliances
Dryer, Microwave, Oven/Range - Gas, Refrigerator, Washer
Elementary school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
High school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
5,616 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
8660
Utilities
Heating system
Forced Air, Other (Heating)
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1900
Number of units
4
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Samson Properties
(301) 760-2136
Listed By:
Joseph Obeid · License #0673810
(301) 741-7411
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 25 at 8:06AM
MLS# MDPG2210260
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated 6-unit building offers a mixed-use configuration with five residential units and one commercial unit. The property totals 5,616 square feet and sits on a 0.2057-acre lot, with 20+ commercial parking spaces available for tenants and visitors.
The building is located at 120 2nd Street in Laurel, Maryland, and is described as being situated on Route 1, where 30,000 cars pass by each day. The property is listed as zoned CG.
The unit mix and on-site parking support tenants seeking a combined residential and commercial setup under one ownership. The listing indicates the property is 100% occupied, and it is being offered for sale with a stated recent $100,000 price reduction. For investors and operators evaluating a low-rise, garden-style multifamily asset with an included commercial component, this property presents a straightforward option centered on its existing occupancy and established parking.
The building is located at 120 2nd Street in Laurel, Maryland, and is described as being situated on Route 1, where 30,000 cars pass by each day. The property is listed as zoned CG.
The unit mix and on-site parking support tenants seeking a combined residential and commercial setup under one ownership. The listing indicates the property is 100% occupied, and it is being offered for sale with a stated recent $100,000 price reduction. For investors and operators evaluating a low-rise, garden-style multifamily asset with an included commercial component, this property presents a straightforward option centered on its existing occupancy and established parking.
Key Highlights
- Renovated 6‑unit multifamily building with 5,616 total SF
- Unit mix includes 5 residential units and 1 commercial unit
- Zoned CG and located at 120 Second Street in Laurel, MD
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
$75,793
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
7.16%
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%
$1,515,860
$1.5M
Cap Rate 7%
$1,082,757
$1.1M
Cap Rate 9%
$842,144
$842.1K
Market Conditions
NOI Build-Up for 5,616 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
$146.9K $26.16/SF
− Vacancy
−$9.1K −$1.62/SF
EGI
$137.8K $24.54/SF
− OpEx
−$62.0K −$11.04/SF
NOI
$75.8K $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%
$1,515,860
Cap Rate 7%
$1,082,757
Cap Rate 9%
$842,144
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$947.4K – $1.26M
NOI $75,793 @ 7.0% cap · market cap 7.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $114,998 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
30,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 20707, MD
37,702
Population
15,146
Households
2.5
Avg Household Size
37
Median Age
45%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
2,992
Density / Sq Mi
$104,093
Median Household Income
$58,633
Median Earnings
$1,880
Median Rent
$411,200
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 - Renovated 6-unit property with five residential units, one commercial unit, and 20+ parking spaces in CG zoning.
Where is this apartment building located?
The property is located at 120 2ND Street Laurel, MD.
What is the asking price?
The asking price for this property is $1,059,000.
What are key features of this property?
This property features: Renovated 6‑unit multifamily building with 5,616 total SF; Unit mix includes 5 residential units and 1 commercial unit; Zoned CG and located at 120 Second Street in Laurel, MD
