R3 Multifamily Development
301 Northeast Road Aberdeen, MD 21001
301 Northeast Road, Aberdeen, MD, 21001
$219,333
For Sale
$219,333
Zoned R3 for condos, apartments, or townhouses, with proposed sketches showing space for up to eight townhouses.
Property Size801 SF
Price / SF$273.82
Days on Market900
Property Features for 301 Northeast Road
General Information
- Standard status
- Active
- Size
- 801 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1949
Listing agency
Weichert, Realtors - Diana Realty
(410) 808-1010
Listed by
Steve R Kuzma · License #29833
(410) 808-1010
Source
Compass
Added: Feb 2, 2024 Updated: Jul 21 at 1:06AM Checked: Jul 21 at 5:58AM
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 Weichert, Realtors - Diana Realty
Investment Insights
Based on property information with market context.
This for-sale property at 301 Northeast Road in Aberdeen, Maryland is under high-density zoning and includes a current building that is rented; please do not disturb tenants. The zoning information provided indicates R3 allows condos, apartments, or townhouses, and the listing notes that up to eight townhouses may be possible based on proposed sketches in the Bright Docs.
The site is located in city limits and is in Harford County, served by Harford County Public Schools.
For confirmed configuration and feasibility, review the proposed sketches referenced with the listing and contact the lister for details and showings.
The site is located in city limits and is in Harford County, served by Harford County Public Schools.
For confirmed configuration and feasibility, review the proposed sketches referenced with the listing and contact the lister for details and showings.
Key Highlights
- Zoned R3 allowing condos, apartments, or townhouses
- 1.6‑acre site in city limits
- Proposed sketches indicate space for up to 8 townhouses
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 | $20.9k | $26.04 |
| − Vacancy | −$1.4k | −$1.69 |
| EGI | $19.5k | $24.35 |
| − OpEx | −$8.8k | −$10.96 |
| NOI | $10.7k | $13.39 |
801 SF · lease $26.04/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$153.2K
$134.1K – $178.8K
NOI $10,726 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.8K
$246.6K – $328.8K
NOI $19,729 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Zoned R3 for condos, apartments, or townhouses, with proposed sketches showing space for up to eight townhouses.
Where is this apartment building located?
The property is located at 301 Northeast Road Aberdeen, MD.
What is the asking price?
The asking price for this property is $219,333.
What are key features of this property?
This property features: Zoned R3 allowing condos, apartments, or townhouses; 1.6‑acre site in city limits; Proposed sketches indicate space for up to 8 townhouses
