11-Unit Apartment Building with
For Sale
$1,100,000
26 WARREN STREET, Aberdeen, MD 21001
Income-producing residential property with varied unit sizes, monthly lease terms, on-site parking, and public utilities.
Property Size7,224 SF
Price / SF$152.27
Days on Market21
Property Features for 26 WARREN STREET
General Information
Standard status
Active
Size
7,224 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$5,713
Amenities
A/C - Other
3
Parking.
Lot.
Building Details
Year Built
1935
Listing Agency:
Garceau Realty
(443) 299-7937
Listed By:
David Feazell · License #674137
(443) 299-7937
Source:
Xome
Added: Aug 4
Changed: Aug 23
Last Checked: Aug 23 at 7:17AM
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 Garceau Realty
Investment Insights
Based on property information with market context.
This 7,224 SF apartment property contains 11 residential units arranged as six 1-bedroom apartments, four 2-bedroom apartments, and one 3-bedroom apartment. The improvements also include a 2-car garage, on-site parking, public water and sewer, and natural gas service. Built in 1935, the building has an architectural roof that was replaced 3 years ago, up-to-date lead certificates, and monthly lease terms for all tenants.
The property occupies a .42-acre parcel at 26 Warren St in Aberdeen, Maryland. It offers direct access to Rt 40, with connections to I-95 and Rt 7. The surrounding area includes commercial and residential development, and the site is near APG. Current occupancy is near full, with long-term tenants in place.
The property occupies a .42-acre parcel at 26 Warren St in Aberdeen, Maryland. It offers direct access to Rt 40, with connections to I-95 and Rt 7. The surrounding area includes commercial and residential development, and the site is near APG. Current occupancy is near full, with long-term tenants in place.
Key Highlights
- 11 apartments: six 1‑bedroom, four 2‑bedroom, and one 3‑bedroom unit
- 2‑car garage plus on‑site parking
- 7,224 SF building on a .42‑acre parcel
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
$96,737
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
8.79%
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%
$1,934,740
$1.9M
Cap Rate 7%
$1,381,957
$1.4M
Cap Rate 9%
$1,074,856
$1.1M
Market Conditions
NOI Build-Up for 7,224 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
$188.1K $26.04/SF
− Vacancy
−$12.2K −$1.69/SF
EGI
$175.9K $24.35/SF
− OpEx
−$79.1K −$10.96/SF
NOI
$96.7K $13.39/SF
Area
Harford County, MD
Vacancy
6.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,934,740
Cap Rate 7%
$1,381,957
Cap Rate 9%
$1,074,856
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,737 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,928 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Explore this area
Business Placement
Demographics for 21001, MD
25,714
Population
11,010
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
30.0 sq mi
ZIP Area
857
Density / Sq Mi
$81,778
Median Household Income
$49,765
Median Earnings
$1,391
Median Rent
$267,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing residential property with varied unit sizes, monthly lease terms, on-site parking, and public utilities.
Where is this apartment building located?
The property is located at 26 WARREN STREET Aberdeen, MD.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 11 apartments: six 1‑bedroom, four 2‑bedroom, and one 3‑bedroom unit; 2‑car garage plus on‑site parking; 7,224 SF building on a .42‑acre parcel
