Two-Level Mixed-Use
For Sale
Contact for pricing
374 Main Street, Laurel, MD 20707
Ground-floor retail space complements two upstairs residential units with separate entrances.
Property Size3,076 SF
Price / SF$235.70
Days on Market130
Property Features for 374 Main Street
General Information
Standard status
Active
Size
3,076 SF
Total Parking Spaces
19
Property subtype
Retail, Multifamily, Mixed Use
Zoning
C-V
Occupancy
50%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Feldman Ruel
Listed By:
Brandon Cardwell · License #MD SP400001955
Source:
Crexi
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 31 at 8:46AM
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 Feldman Ruel
Investment Insights
Based on property information with market context.
This two-level mixed-use building combines a 3,076-square-foot retail area on the ground floor with two upstairs residential units. Each apartment includes one bedroom and one bathroom, with private entrances providing separate access. The retail component will be vacant at closing, while both residential units are occupied and producing in-place cash flow. One apartment is leased through January 2027, and the other operates on a month-to-month arrangement.
The property is positioned along Laurel’s Historic Main Street, near the center of the district. Its setting provides exposure to both vehicle and pedestrian traffic within an area defined by historic character. The configuration supports a commercial storefront at street level alongside residential occupancy above.
The property is positioned along Laurel’s Historic Main Street, near the center of the district. Its setting provides exposure to both vehicle and pedestrian traffic within an area defined by historic character. The configuration supports a commercial storefront at street level alongside residential occupancy above.
Key Highlights
- 3,076‑square‑foot, two‑level mixed‑use building
- Ground‑floor retail space delivered vacant at closing
- Two upstairs one‑bedroom, one‑bathroom apartments
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
$43,537
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
6.01%
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%
$870,740
$870.7K
Cap Rate 7%
$621,957
$622.0K
Cap Rate 9%
$483,744
$483.7K
Market Conditions
NOI Build-Up for 3,076 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
$66.4K $21.60/SF
− Vacancy
−$4.2K −$1.38/SF
EGI
$62.2K $20.22/SF
− OpEx
−$18.7K −$6.07/SF
NOI
$43.5K $14.15/SF
Area
Anne Arundel 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%
$870,740
Cap Rate 7%
$621,957
Cap Rate 9%
$483,744
Alternative Uses
Best Use
Retail
$622.0K
$544.2K – $725.6K
NOI $43,537 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$593.1K
$518.9K – $691.9K
NOI $41,514 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$899.8K
$787.3K – $1.05M
NOI $62,987 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail space complements two upstairs residential units with separate entrances.
Where is this mixed-use property located?
The property is located at 374 Main Street Laurel, MD.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,076‑square‑foot, two‑level mixed‑use building; Ground‑floor retail space delivered vacant at closing; Two upstairs one‑bedroom, one‑bathroom apartments
