Building Details

Year Built 1950

Listing Agency: Warner Commercial

Listed By: Jonathan M Warner · License #91909 Show Phone

Source: Lgagne

Added: Jul 3 Changed: Oct 10 Last Checked: Oct 7 at 5:22PM

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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 Warner Commercial

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Investment Insights

Based on property information with market context.

This flexible commercial pad site includes approximately 2,500 square feet of commercial space across two buildings that are connected. The property features a paved parking lot and is being sold as-is.

The site is described as having excellent street frontage and easy highway access, supporting straightforward customer access for retail uses. Public walking scores indicate a car-dependent setting.

The offering combines usable retail space in a two-building configuration with paved on-site parking, positioned for a tenant or buyer seeking a connected storefront layout within a larger lot.

Key Highlights

• Approximately 2,500 SF of commercial space in two connected buildings
• Lot size is approximately 37,000 SF
• Paved parking lot included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,893

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$537,860 $537.9K

Cap Rate 7%

$384,186 $384.2K

Cap Rate 9%

$298,811 $298.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,456 SF

Gross rent

$41.9K $17.04/SF

− Vacancy

−$3.4K −$1.40/SF

EGI

$38.4K $15.64/SF

− OpEx

−$11.5K −$4.69/SF

NOI

$26.9K $10.95/SF

Area

Washington County, MD

Vacancy

8.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$537,860

Cap Rate 7%

$384,186

Cap Rate 9%

$298,811

Alternative Uses

Best Use

Retail

$384.2K

$336.2K – $448.2K (±1% cap)

NOI $26,893 @ 7.0% cap · market cap 6.42%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$544.8K

$476.7K – $635.6K (±1% cap)

NOI $38,136 @ 7.0% cap · market cap 9.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Pools Patios & Porches (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Parking Lot & Garage Plumbing Service Garden Center Kitchen & Bath Showroom

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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

24

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 21783, MD

9,306

Population

3,952

Households

2.4

Avg Household Size

42

Median Age

21%

College-Educated

90%

High-School Grad

47.6 sq mi

ZIP Area

196

Density / Sq Mi

$96,055

Median Household Income

$50,817

Median Earnings

$1,060

Median Rent

$330,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Flexible retail site with two connected buildings and a paved parking lot, sold as-is.

Where is this storefront property located?

The property is located at 21018 Jefferson Boulevard Smithsburg, MD.

What is the asking price?

The asking price for this property is $419,000.

What are key features of this property?

This property features: Approximately 2,500 SF of commercial space in two connected buildings; Lot size is approximately 37,000 SF; Paved parking lot included