Westminster Multifamily Asset For
39 N Court St, Westminster, MD 21157
Fully occupied, renovated multifamily property in historic Westminster, Maryland.
Type:Multifamily
Property size:
6,276 SFPrice / SF:
$133/SF- Added:
- Feb 5, 2026
- Days on Market:
- 151
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 39 N Court St
General Information
- Standard status
- Active
- Size
- 6,276 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1880
Listing office Harbor Stone Advisors
Listing date Feb 5, 2026
Source Crexi
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 Harbor Stone Advisors
HighLights
- Fully occupied multifamily asset in the heart of Westminster, MD.
- Located in the National Historic District of Downtown Westminster, offering walkable access to shops and restaurants.
- Comprehensive renovation completed by prior ownership, featuring stainless steel appliances and in‑unit washer/dryers.
- Attractive mix of unit types: Studio, 1‑Bedroom, and 2‑Bedroom apartments.
- Opportunity to increase rents organically.
- Potential to monetize parking by renting out the on‑site garage.
Overview
North Court Apartments is a fully occupied multifamily asset located in Westminster, Maryland. Situated in the National Historic District of Downtown Westminster, the property offers a living experience near preserved historic architecture, boutique stores, and dining options. Downtown Westminster features an active community calendar with annual events and festivals. The property consists of 6 units, including one studio, three 1-bedroom units, and two 2-bedroom units. Prior ownership completed a comprehensive renovation of the property, including unit renovations. Typical unit features include stainless steel appliances, wood cabinets, formica countertops, hardwood/tile flooring, and in-unit washer dryers. The current owner refreshed two units, units 1 and 5, by adding granite countertops and modern hardware/fixtures. There is an opportunity for a new owner to organically increase rents. There is also an ability to monetize parking at the property. Currently, there is a garage on-site that is being used as storage for the property. A new owner can rent out the garage as a parking area for 1-2 cars. The property size is 6276 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.6k | $21.60 |
| − Vacancy | −$7.5k | −$1.19 |
| EGI | $128.1k | $20.41 |
| − OpEx | −$57.6k | −$9.19 |
| NOI | $70.5k | $11.23 |
6,276 SF · lease $21.60/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$880.7K – $1.17M
NOI $70,458 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $162,923 @ 7.0% cap · market cap 19.51%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Walfred Miller Kelly
Law Firm
Miller Edward M
Law Firm
Miller And Miller Law
Law Firm
Carroll County Mediation ...
Alternative Medicine Practice
Location Insight
- Map
- Local Demand
- City
- Westminster
- County
- Carroll
- State
- Maryland
- Longitude
- -76.9887429
- Latitude
- 39.5705484
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied, renovated multifamily property in historic Westminster, Maryland.
Where is this apartment building located?
The property is located at 39 N Court St Westminster, MD.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Fully occupied multifamily asset in the heart of Westminster, MD.; Located in the National Historic District of Downtown Westminster, offering walkable access to shops and restaurants.; Comprehensive renovation completed by prior ownership, featuring stainless steel appliances and in‑unit washer/dryers.
