Historic Estate with Guest
For Sale
$625,000
22109 AQUASCO ROAD, Aquasco, MD 20608
Restored historic home with eight fireplaces, renovated kitchen, and an attached guest suite with its own private entrance.
Property Size4,818 SF
Lot Size5.00 Acres
Price / SF$129.72
Days on Market33
Property Features for 22109 AQUASCO ROAD
General Information
Standard status
Active
Size
4,818 SF
Lot size
5.00 Acres
Property subtype
Commercial
Additional Details
Clear Height
11 ft
Building Details
Year Built
1892
Listing Agency:
EXP Realty, LLC
(703) 688-2635
Listed By:
Christopher Craddock · License #0225207192
(703) 688-2635
Source:
Cummingsrealtors
Added: Jul 23
Changed: Aug 23
Last Checked: Aug 24 at 5:39AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
The Thomas House is a historic estate that is approximately 80% through its restoration and set on nearly five acres in Southern Maryland. The residence features 11-foot ceilings, original wide-plank hardwood floors, slate flooring, grand staircases, oversized windows, period millwork, original brass hardware, and eight fireplaces. A renovated kitchen and marble bathrooms bring modern upgrades to the historic character. Building improvements include a new 50-year standing seam metal roof with custom powder-coated chimney toppers, Cat6 wiring to every bedroom from a central network switch, built-in main-level speakers, and a SimpliSafe security system (first year permit included). An inline tankless water heater supports hot water needs.
The attached guest suite includes a private entrance. All eight fireplaces have chimney liners and have been professionally converted to propane under permit, with gas and electric connections ready for inserts; two fireplaces feature installed gas inserts. Outside, the property includes farm-related elements such as a chicken coop, heirloom fruit trees, native raspberry patches, and garden beds.
Additional on-site details include the presence of seasonal plantings such as thousands of daffodils, peonies, irises, and heirloom roses. The listing notes that potential county historic preservation grants and tax credits may be available for qualifying renovation work, subject to buyer verification.
The attached guest suite includes a private entrance. All eight fireplaces have chimney liners and have been professionally converted to propane under permit, with gas and electric connections ready for inserts; two fireplaces feature installed gas inserts. Outside, the property includes farm-related elements such as a chicken coop, heirloom fruit trees, native raspberry patches, and garden beds.
Additional on-site details include the presence of seasonal plantings such as thousands of daffodils, peonies, irises, and heirloom roses. The listing notes that potential county historic preservation grants and tax credits may be available for qualifying renovation work, subject to buyer verification.
Key Highlights
- Historic home built in 1892 featuring 11‑foot ceilings, original wide‑plank hardwood floors, and period millwork throughout.
- Eight fireplaces with chimney liners, professionally converted to propane under permit; gas and electric connections are ready for inserts.
- Renovated kitchen and marble bathrooms plus an inline tankless water heater for hot water.
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
$46,165
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
7.39%
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%
$923,300
$923.3K
Cap Rate 7%
$659,500
$659.5K
Cap Rate 9%
$512,944
$512.9K
Market Conditions
NOI Build-Up for 4,818 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
$118.5K $24.60/SF
− Vacancy
−$21.3K −$4.43/SF
EGI
$97.2K $20.17/SF
− OpEx
−$51.0K −$10.59/SF
NOI
$46.2K $9.58/SF
Area
Prince George's County, MD
Vacancy
18.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
52.50%
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%
$923,300
Cap Rate 7%
$659,500
Cap Rate 9%
$512,944
Alternative Uses
Best Use
Hotel Hospitality
$659.5K
$577.1K – $769.4K
NOI $46,165 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,799 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 20608, MD
878
Population
281
Households
3.1
Avg Household Size
52
Median Age
22%
College-Educated
94%
High-School Grad
17.7 sq mi
ZIP Area
50
Density / Sq Mi
$79,635
Median Household Income
$53,818
Median Earnings
$880
Median Rent
$356,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Restored historic home with eight fireplaces, renovated kitchen, and an attached guest suite with its own private entrance.
Where is this bed & breakfast located?
The property is located at 22109 AQUASCO ROAD Aquasco, MD.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Historic home built in 1892 featuring 11‑foot ceilings, original wide‑plank hardwood floors, and period millwork throughout.; Eight fireplaces with chimney liners, professionally converted to propane under permit; gas and electric connections are ready for inserts.; Renovated kitchen and marble bathrooms plus an inline tankless water heater for hot water.
