Commercial Property on 2.5
For Sale
$1,000,000
Pending
16665 Old Emmitsburg Rd, Emmitsburg, MD 21727
2.5 acres with commercial buildings, high visibility, easy access.
Property Size10,000 SF
Lot Size2.50 Acres
Days on Market1593
Property Features for 16665 Old Emmitsburg Rd
General Information
Standard status
Pending
Size
10,000 SF
Lot size
2.50 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,051
Building Details
Year Built
1920
Listing Agency:
HUTZELL AND SHEETS REALTY ASSOCIATES
(301) 662-6111
Listed By:
ROBERT T SHEETS JR.
Source:
Corcoran
Added: Mar 31, 2022
Changed: Aug 8
Last Checked: Aug 8 at 6:07AM
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 HUTZELL AND SHEETS REALTY ASSOCIATES
Investment Insights
Based on property information with market context.
This commercial property features 2.5 acres at the full access intersection of S. Seton Ave and US Rt 15 in Emmitsburg, MD. The property includes two parcels with two houses and a total of 10,000 square feet of commercial buildings. Zoned General Commercial, the location allows a broad range of uses, enhanced by high visibility and easy, full access to both North and South lanes of US Rt. 15. The average daily traffic count exceeds 30,000 cars. It is an excellent location for gas, convenience, or retail centers. (Tax Nos. 05-177367 05-177359).
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
$77,249
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
7.72%
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%
$1,544,980
$1.5M
Cap Rate 7%
$1,103,557
$1.1M
Cap Rate 9%
$858,322
$858.3K
Market Conditions
NOI Build-Up for 10,000 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
$117.4K $11.74/SF
− Vacancy
−$7.0K −$0.70/SF
EGI
$110.4K $11.04/SF
− OpEx
−$33.1K −$3.31/SF
NOI
$77.2K $7.72/SF
Area
Frederick County, MD
Vacancy
6.00%
Lease Rate
$11.74 /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%
$1,544,980
Cap Rate 7%
$1,103,557
Cap Rate 9%
$858,322
Alternative Uses
Best Use
Specialty Retail
$3.71M
$3.24M – $4.32M
NOI $259,384 @ 7.0% cap · market cap 25.94%
Second Best
Retail
$1.56M
$1.36M – $1.82M
NOI $108,927 @ 7.0% cap · market cap 10.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Valero Energy
Shops & Services
2,746 visits/mo
0.1 miles
Demographics for 21727, MD
6,593
Population
1,838
Households
3.6
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
31.3 sq mi
ZIP Area
211
Density / Sq Mi
$92,697
Median Household Income
$21,536
Median Earnings
$824
Median Rent
$304,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 2.5 acres with commercial buildings, high visibility, easy access.
Where is this commercial land located?
The property is located at 16665 Old Emmitsburg Rd Emmitsburg, MD.
What is the asking price?
The asking price for this property is $1,000,000.
