Mixed-Use Building in Downtown
For Sale
$1,100,000
349 MAIN STREET, Laurel, MD 20707
Two-story mixed-use building with prime corner visibility and flexible zoning.
Property Size5,648 SF
Lot Size0.17 Acres
Price / SF$194.76
Days on Market224
Property Features for 349 MAIN STREET
General Information
Standard status
Active
Size
5,648 SF
Lot size
0.17 Acres
Property subtype
MixedUse
Taxes and HOA fees
Annual Taxes
$11,218
Building Details
Building Size
5,648 SF
Year Built
1915
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Coni L Otto · License #608255
(240) 483-7556
Source:
Kerishull
Added: Feb 15
Changed: Sep 26
Last Checked: Sep 26 at 12:56PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located in the heart of Historic Downtown Laurel, this two-story mixed-use building at 349 Main Street offers approximately 4,400 square feet of space. The property benefits from prime corner visibility and a strong Main Street presence. Its flexible C-V zoning supports a wide range of retail, office, and service uses. The layout allows for owner occupancy of one level while leasing additional space for supplemental income. Situated on a 0.17-acre lot, the property includes rear on-site parking. It is surrounded by established restaurants, shops, and neighborhood businesses, contributing to steady foot traffic and a strong local presence. The location is ideal for professional offices, boutique retail, salon/spa concepts, café operators, or service-based businesses seeking to establish a long-term presence. The property offers convenient access to major commuter routes between Washington, DC, and Baltimore. The location has a walk score of 89, indicating it is very walkable, a bike score of 51, indicating it is bikeable, and a transit score of 44, indicating some transit options are available.
Key Highlights
- Prime corner location in Historic Downtown Laurel with strong Main Street presence.
- Flexible C‑V zoning supports a wide range of retail, office, and service uses.
- Approximately 4,400 square foot two‑story mixed‑use building.
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
$71,207
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
6.47%
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%
$1,424,140
$1.4M
Cap Rate 7%
$1,017,243
$1.0M
Cap Rate 9%
$791,189
$791.2K
Market Conditions
NOI Build-Up for 5,648 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
$138.9K $24.60/SF
− Vacancy
−$25.0K −$4.43/SF
EGI
$113.9K $20.17/SF
− OpEx
−$42.7K −$7.56/SF
NOI
$71.2K $12.61/SF
Area
Prince George's County, MD
Vacancy
18.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,424,140
Cap Rate 7%
$1,017,243
Cap Rate 9%
$791,189
Alternative Uses
Best Use
Mixed Use
$1.02M
$890.1K – $1.19M
NOI $71,207 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,541 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 20707, MD
37,702
Population
15,146
Households
2.5
Avg Household Size
37
Median Age
45%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
2,992
Density / Sq Mi
$104,093
Median Household Income
$58,633
Median Earnings
$1,880
Median Rent
$411,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story mixed-use building with prime corner visibility and flexible zoning.
Where is this mixed-use property located?
The property is located at 349 MAIN STREET Laurel, 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: Prime corner location in Historic Downtown Laurel with strong Main Street presence.; Flexible C‑V zoning supports a wide range of retail, office, and service uses.; Approximately 4,400 square foot two‑story mixed‑use building.
