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    Capitol Heights Industrial Condo Portfolio Title is generated by Realmo AI

    1793 Olive St, Capitol Heights, MD 20743

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    Claim this Listing
    For Sale
    $799,000

    Three adjacent industrial condo units near DC border, ideal for investors.

    Added:
    May 4, 2025
    Days on Market:
    393
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1793 Olive St

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1951

    We can help!

    Listing Contact
    JOSE L GUZMAN

    Listing agent JOSE L GUZMAN License #02252375596

    Listing office UNITED REAL ESTATE

    Listing date May 4, 2025

    Source Corcoran

    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 UNITED REAL ESTATE

    HighLights

    • Portfolio of three adjacent industrial condo units totaling 12,178± SF.
    • Rare I‑2 zoning for heavy industrial uses.
    • Convenient location near the DC border in Capitol Heights, Maryland.
    • Three loading docks with covered loading area (one per unit).
    • Abundant surface parking with gated security.
    • NNN lease in place for unit 1793 until 2028.

    Overview

    This is a unique opportunity to purchase a portfolio of three adjacent small bay covered dock industrial condo units for sale in Capitol Heights, Maryland, near the DC border. The industrial condos are suitable for investors looking to capitalize on rising industrial lease rates and shrinking industrial inventory, or for a contractor or owner/user needing space conveniently located in Maryland and Washington, DC. The property features I-2 zoning for heavy industrial uses with abundant surface parking. There are 3 loading docks, one per unit, a covered loading area, and a 23-foot ceiling height. The parking lot has gated security. The total area of the three units is 12,178 square feet. Unit 1789 has 4,307 square feet, Unit 1791 has 4,249 square feet, and Unit 1793 has 3,622 square feet. The units are adjacent but currently demised. There is sale lease-back potential for units 1789 and 1791. Unit 1793 has a NNN lease in place until 2028.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

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

    Similar Places Nearby

    • Public Storage — 5556 Tuxedo Rd, Hyattsville, MD 20781
    • Self Storage Plus — 1325 Kenilworth Avenue Northeast, Washington, DC 20019
    • Cube Smart Self Storage — washington, dc 20019
    • Self Storage Plus — 2529 Kenilworth Ave, Hyattsville, MD 20781
    • Extra Space Storage — 1423 Eastern Ave NE, Capitol Heights, MD 20743

    Location Insight

    • Map
    • Local Demand
    City
    Capitol Heights
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.9296
    Latitude
    38.913

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    FAQs

    What type of property is this?
    Warehouse - Three adjacent industrial condo units near DC border, ideal for investors.
    Where is this warehouse located?
    The property is located at 1793 Olive St Capitol Heights, MD.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Portfolio of three adjacent industrial condo units totaling 12,178± SF.; Rare I‑2 zoning for heavy industrial uses.; Convenient location near the DC border in Capitol Heights, Maryland.
    (972) 372-0590
    We can help!
    Listing Contact
    JOSE L GUZMAN
    Real Estate License ID: 02252375596
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    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.

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    1793 Olive St, CAPITOL HEIGHTS, MD 20743
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