Retail Storefront with Laundromat
New
For Sale
$575,000
204 CARROLL ISLAND ROAD, Middle River, MD 21220
Former convenience-store space supports neighborhood-oriented commercial concepts, subject to zoning, licensing, permits, and governmental approvals.
Property Size2,640 SF
Price / SF$217.80
Days on Market7
Property Features for 204 CARROLL ISLAND ROAD
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Commercial
Building Details
Year Built
1999
Listing Agency:
Advance Realty, Inc.
(443) 271-4100
Listed By:
Martin A Saunders
(443) 271-4100
Source:
Cummingsrealtors
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 5:27PM
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 Advance Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,640-square-foot retail storefront was built in 1999 and formerly operated as a 7-Eleven convenience store. Convenience-store use is not permitted for this opportunity. The seller has information and a proposed layout for a laundromat, providing a documented reuse concept for the existing commercial space.
The property is located at 204 Carroll Island Road in Middle River, Maryland, within an area that includes established residential communities and apartments. Other concepts identified for the space include wash-and-fold laundry, child care, personal services, medical or professional office, specialty retail, restaurant or carry-out, fitness, and other neighborhood-oriented businesses. Any proposed use requires verification of current Baltimore County zoning and compliance with applicable regulations, permits, licenses, and approvals.
The property is located at 204 Carroll Island Road in Middle River, Maryland, within an area that includes established residential communities and apartments. Other concepts identified for the space include wash-and-fold laundry, child care, personal services, medical or professional office, specialty retail, restaurant or carry-out, fitness, and other neighborhood-oriented businesses. Any proposed use requires verification of current Baltimore County zoning and compliance with applicable regulations, permits, licenses, and approvals.
Key Highlights
- 2,640‑square‑foot retail storefront built in 1999
- Seller has information and a proposed layout for a laundromat
- Former 7‑Eleven location; convenience‑store use is not permitted
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
$37,366
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
6.50%
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%
$747,320
$747.3K
Cap Rate 7%
$533,800
$533.8K
Cap Rate 9%
$415,178
$415.2K
Market Conditions
NOI Build-Up for 2,640 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
$57.0K $21.60/SF
− Vacancy
−$3.6K −$1.38/SF
EGI
$53.4K $20.22/SF
− OpEx
−$16.0K −$6.07/SF
NOI
$37.4K $14.15/SF
Area
Baltimore 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%
$747,320
Cap Rate 7%
$533,800
Cap Rate 9%
$415,178
Alternative Uses
Best Use
Retail
$533.8K
$467.1K – $622.8K
NOI $37,366 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$25.61M
$22.41M – $29.88M
NOI $1,792,924 @ 7.0% cap · market cap 311.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21220, MD
44,568
Population
17,960
Households
2.5
Avg Household Size
38
Median Age
26%
College-Educated
89%
High-School Grad
21.2 sq mi
ZIP Area
2,102
Density / Sq Mi
$79,676
Median Household Income
$50,215
Median Earnings
$1,621
Median Rent
$279,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Former convenience-store space supports neighborhood-oriented commercial concepts, subject to zoning, licensing, permits, and governmental approvals.
Where is this storefront property located?
The property is located at 204 CARROLL ISLAND ROAD Middle River, MD.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,640‑square‑foot retail storefront built in 1999; Seller has information and a proposed layout for a laundromat; Former 7‑Eleven location; convenience‑store use is not permitted
