Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3505 Rhode Island Ave Mount Rainier, MD 20712

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $495,000

    Income-producing triplex with in-unit laundry, parking, and convenient location.

    Lot size:
    0.14 Acres

    Property Features for 3505 Rhode Island Ave

    General Information

    Property type
    Investment
    Standard status
    Contract
    Lot size
    0.14 Acres

    Building Details

    Year built
    1917

    We can help!

    Listing Contact
    Karla A. Rhodes
    Source: Elliman

    Listing Agency: Samson Properties Listing Agent: Karla A. Rhodes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Spacious Income-Producing Mt. Rainier Triplex

    This income-producing triplex is located in Mt. Rainier. It features one 2-bedroom, 2-bathroom unit and two 2-bedroom, 1-bathroom units. One of the 2-bedroom units includes a wood-burning fireplace. Each unit is fully occupied and includes in-unit laundry. One unit also offers a private deck. The property provides off-street parking and a 2-car garage deep enough for tandem parking, providing a total of 4 covered spaces. There is also a bonus space over the garage. The property is located minutes from the Metro and steps from the bus depot. The property offers long-term versatility and is an excellent turnkey opportunity. The neighboring property is also for sale and can be purchased together for a multi-building opportunity.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Rainier
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.9589561
    Latitude
    38.9369764

    Nearby Similar for Sale

    • $900,000

      Retail Space in Gateway Arts District

      Retail space in vibrant arts district near Washington, D.C.
      3815 34Th St, Mount Rainier, MD 20712
      View Details
    • New
      $450,000
      2,029 SF

      Income-Producing Triplex Near Metro

      Spacious triplex near Metro with flexible rental options.
      3501 Rhode Island Ave, Mount Rainier, MD 20712
      View Details
    • $625,000

      Mount Rainier Commercial Kitchen Opportunity

      2,300 SF commercial space in Mount Rainier, Maryland.
      4009 34Th St, Mount Rainier, MD 20712
      View Details
    • $699,000

      Corner Lot Cape Cod Building

      Cape Cod building on corner lot with many potential uses.
      3623 Eastern Ave, Mount Rainier, MD 20712
      View Details
    • $450,000

      Income-Producing Triplex Near Metro

      Spacious triplex with flexible rental options near transportation.
      3501 Rhode Island Ave, Mount Rainier, MD 20712
      View Details
    • $510,000

      Mount Rainier Specialty Property

      Specialty property available for sale in Mount Rainier.
      3419 Eastern Ave, Mount Rainier, MD 20712
      View Details
    • $3,400,000

      Historic Church with Revival Architecture

      Two-story, 15,000 SF church with sanctuary and banquet hall.
      3501 Bunker Hill Rd, Mount Rainier, MD 20712
      View Details
    • Contact for pricing

      Turnkey Hookah Lounge Operation

      Hookah lounge for sale, centrally located, licensed for 24-hour operation.
      3235 Rhode Island Ave, Mount Rainier, MD 20712
      View Details
    • $649,834

      Freestanding Commercial Property in Mount Rainier

      Classic mixed-use building with expansion potential in a vibrant town center.
      3407 Perry St, Mount Rainier, MD 20712
      View Details
    • $699,000

      Corner Lot Cape Cod Building

      Cape Cod building on corner lot with adaptive reuse potential.
      3623 Eastern Ave, Mount Rainier, MD 20712
      View Details
    • $625,000

      Mount Rainier Commercial Restaurant Opportunity

      Two-level, 2,300 SF restaurant space in historic Mount Rainier.
      4009 34Th St, Mount Rainier, MD 20712
      View Details
    • $3,400,000

      Historic Classical Revival Style Church

      Two-story, 15,000 SF church with sanctuary and banquet hall.
      3501 Bunker Hill Rd, Mount Rainier, MD 20712
      View Details

    FAQs

    What type of property is this?
    Triplex - Income-producing triplex with in-unit laundry, parking, and convenient location.
    Where is this triplex located?
    The property is located at 3505 Rhode Island Ave Mount Rainier, MD.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Income-producing triplex: A turnkey investment opportunity with all units currently occupied.; - Convenient location: Minutes from the Metro and steps from the bus depot, ideal for commuters.; - In-unit laundry: Each unit is equipped with its own laundry facilities.
    (301) 459-5040
    Request Owner's contact information
    3505 Rhode Island Ave Mount Rainier, MD 20712
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3505 Rhode Island Ave
    Mount Rainier, MD 20712
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3505 Rhode Island Ave Mount Rainier, MD 20712
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Karla A. Rhodes
    Real Estate License ID: 576576
    (301) 459-5040 (443) 629-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!