Mixed-Use Building with
New
For Sale
$499,000
2 Washington Rd, Westminster, MD 21157
Corner property combining food service, flexible retail space, and a vacant storefront for convenience-oriented use.
Property Size1,538 SF
Price / SF$324.45
Days on Market7
Property Features for 2 Washington Rd
General Information
Standard status
Active
Size
1,538 SF
Total Parking Spaces
7
Property subtype
Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Amenities
security camera system
alarm system
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Taylor Properties
Listed By:
NASIR ABBASI
Source:
Viewmarylandhomesforsale
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 21 at 7:20AM
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 Taylor Properties
Investment Insights
Based on property information with market context.
This mixed-use commercial building contains three distinct components: a restaurant area with a working kitchen hood, commercial equipment, furniture, and inventory; a separate retail area; and an additional vacant storefront. The restaurant equipment, inventory, and furnishings are included, along with an active security camera system and entry/exit alarm system. The property was operating until last month and includes dedicated parking for up to 7 vehicles.
Built in 1930, the property occupies a corner position in downtown Westminster, directly across from Carroll Fuel and near Carroll Community College. Access to I-95 adds connectivity to the surrounding commuter network. The retail areas can accommodate uses such as an antique shop, boutique, general retailer, convenience store, grab-and-go market, or specialty shop, subject to applicable approvals.
Built in 1930, the property occupies a corner position in downtown Westminster, directly across from Carroll Fuel and near Carroll Community College. Access to I-95 adds connectivity to the surrounding commuter network. The retail areas can accommodate uses such as an antique shop, boutique, general retailer, convenience store, grab-and-go market, or specialty shop, subject to applicable approvals.
Key Highlights
- Three‑part layout with restaurant, retail, and vacant storefront areas
- Restaurant equipment, inventory, furniture, and working kitchen hood included
- Equipment and furnishings are less than one year old
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
$21,769
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
4.36%
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%
$435,380
$435.4K
Cap Rate 7%
$310,986
$311.0K
Cap Rate 9%
$241,878
$241.9K
Market Conditions
NOI Build-Up for 1,538 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
$33.2K $21.60/SF
− Vacancy
−$2.1K −$1.38/SF
EGI
$31.1K $20.22/SF
− OpEx
−$9.3K −$6.07/SF
NOI
$21.8K $14.15/SF
Area
Carroll County, MD
Vacancy
6.39%
Lease Rate
$21.60 /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%
$435,380
Cap Rate 7%
$310,986
Cap Rate 9%
$241,878
Alternative Uses
Best Use
Retail
$311.0K
$272.1K – $362.8K
NOI $21,769 @ 7.0% cap · market cap 4.36%
Second Best
Specialty Retail
$256.4K
$224.4K – $299.2K
NOI $17,950 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$570.4K
$499.1K – $665.4K
NOI $39,926 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combining food service, flexible retail space, and a vacant storefront for convenience-oriented use.
Where is this mixed-use property located?
The property is located at 2 Washington Rd Westminster, MD.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑part layout with restaurant, retail, and vacant storefront areas; Restaurant equipment, inventory, furniture, and working kitchen hood included; Equipment and furnishings are less than one year old
