Building Details

Year Built 1954

Tenancy Multi

Listing Agency: Compass

Listed By: Jennifer Holden · License #639966 Show Phone

Source: Gklegacygroup

Added: Aug 2 Changed: Sep 18 Last Checked: Oct 7 at 1:04PM

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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 Compass

Investment Insights

Based on property information with market context.

This 3,328-square-foot triplex, built in 1954, contains three residential units with a practical mix of layouts. Unit 3 and Unit 3A each provide two bedrooms and one bathroom, while Unit 3B is a studio with one bathroom. Unit 3A includes a one-car garage, and the studio is configured within Unit 3’s garage area. Property improvements include a newer roof, windows, and HVAC systems, along with wood flooring and comfortable interior arrangements.

The property is located at 3 Sheridan Road in Arnold, near shopping, dining, services, Anne Arundel Community College, and the Greater Annapolis Y fitness center. Downtown Annapolis, the Bay Bridge, and Route 50 are minutes away, providing access toward Annapolis, Baltimore, and Washington, DC.

Key Highlights

• Three‑unit triplex totaling 3328 square feet
• Unit 3 and Unit 3A each offer 2BR/1BA layouts
• Unit 3B is a studio with 1 bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,356

Cap Rate

8.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$967,120 $967.1K

Cap Rate 7%

$690,800 $690.8K

Cap Rate 9%

$537,289 $537.3K

Market Conditions

NOI Build-Up for 3,328 SF

Gross rent

$73.9K $22.20/SF

− Vacancy

−$4.8K −$1.44/SF

EGI

$69.1K $20.76/SF

− OpEx

−$20.7K −$6.23/SF

NOI

$48.4K $14.53/SF

Area

Anne Arundel County, MD

Vacancy

6.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$967,120

Cap Rate 7%

$690,800

Cap Rate 9%

$537,289

Alternative Uses

Best Use

Multifamily LT 5

$690.8K

$604.5K – $805.9K (±1% cap)

NOI $48,356 @ 7.0% cap · market cap 8.06%

Second Best

Apartment 5plus

$641.6K

$561.4K – $748.6K (±1% cap)

NOI $44,915 @ 7.0% cap · market cap 7.49%

Theoretical Best

Office A

$973.5K

$851.8K – $1.14M (±1% cap)

NOI $68,147 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Restaurant Hair Salon Auto Repair Shop Nail Salon Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

470

Businesses Nearby

Explore this area Business Placement

Demographics for 21012, MD

22,377

Population

8,509

Households

2.6

Avg Household Size

41

Median Age

60%

College-Educated

98%

High-School Grad

9.8 sq mi

ZIP Area

2,283

Density / Sq Mi

$137,544

Median Household Income

$72,146

Median Earnings

$2,171

Median Rent

$552,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Three residential units offer varied layouts, including a studio and a unit with an attached one-car garage.

Where is this triplex located?

The property is located at 3 Sheridan Rd Arnold, MD.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Three‑unit triplex totaling 3328 square feet; Unit 3 and Unit 3A each offer 2BR/1BA layouts; Unit 3B is a studio with 1 bath