Historic Monkton Town Hall
For Sale
$849,000
Pending
1901 Monkton Rd, Monkton, MD 21111
Historic mixed-use building with modern amenities and ample parking.
Property Size3,497 SF
Lot Size0.18 Acres
Days on Market639
Property Features for 1901 Monkton Rd
General Information
Standard status
Pending
Size
3,497 SF
Lot size
0.18 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,795
Building Details
Year Built
1861
Listing Agency:
KRAUSS REAL PROPERTY BROKERAGE
(410) 329-9898
Listed By:
HEIDI S KRAUSS · License #525124
Source:
Corcoran
Added: Nov 8, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:07PM
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 KRAUSS REAL PROPERTY BROKERAGE
Investment Insights
Based on property information with market context.
The Monkton Town Hall, dating back to circa 1861, offers a premium commercial location in the heart of Monkton, situated on the trail and a short walk to the Gunpowder. Purchased by Samuel Miller from the Meredith family in 1849, the building was presumed to be built as a store-house by Miller in connection with the Monkton Hotel. The property features 3,497 square feet across three levels. Substantial renovations were completed in 2017. The property offers the potential to live where you work, with the NCR Trail located right outside. It presents a magnificent opportunity for exposure and cultivating a new lifestyle in 2025. Steeped in local Monkton history, the building exudes old soul while incorporating modern amenities and systems. Ample parking is available. Zoning is BL-CR. New Norwood historically correct windows in the color sailcloth were installed in 2016, along with new gutters and downspouts, and a new well water filtration system. A new A/C unit was installed in 2021.
Key Highlights
- Premium location in the heart of Monkton on the NCR Trail, offering high exposure and lifestyle opportunities.
- 3,497 sq.ft. commercial space on three levels, suitable for living and working.
- Substantial renovations completed in 2017, blending historic charm with modern amenities.
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
$49,496
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
5.83%
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%
$989,920
$989.9K
Cap Rate 7%
$707,086
$707.1K
Cap Rate 9%
$549,956
$550.0K
Market Conditions
NOI Build-Up for 3,497 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
$75.5K $21.60/SF
− Vacancy
−$4.8K −$1.38/SF
EGI
$70.7K $20.22/SF
− OpEx
−$21.2K −$6.07/SF
NOI
$49.5K $14.15/SF
Area
Baltimore County, MD
Vacancy
6.39%
Lease Rate
$21.60 /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%
$989,920
Cap Rate 7%
$707,086
Cap Rate 9%
$549,956
Alternative Uses
Best Use
Retail
$707.1K
$618.7K – $824.9K
NOI $49,496 @ 7.0% cap · market cap 5.83%
Second Best
Mixed Use
$702.7K
$614.9K – $819.8K
NOI $49,188 @ 7.0% cap · market cap 5.79%
Theoretical Best
Multifamily LT 5
$33.93M
$29.69M – $39.58M
NOI $2,374,945 @ 7.0% cap · market cap 279.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 21111, MD
5,062
Population
1,902
Households
2.7
Avg Household Size
48
Median Age
64%
College-Educated
99%
High-School Grad
35.3 sq mi
ZIP Area
143
Density / Sq Mi
$135,781
Median Household Income
$63,322
Median Earnings
$1,458
Median Rent
$585,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use building with modern amenities and ample parking.
Where is this mixed-use property located?
The property is located at 1901 Monkton Rd Monkton, MD.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Premium location in the heart of Monkton on the NCR Trail, offering high exposure and lifestyle opportunities.; 3,497 sq.ft. commercial space on three levels, suitable for living and working.; Substantial renovations completed in 2017, blending historic charm with modern amenities.
