5-Unit Apartment
5122 MAIN Street, Grasonville, MD 21638
For Sale
New
$349,000
Multi-Family, GRASONVILLE, MD
Property Size2,655 SF
Lot Size0.64 Acres
Price / SF$131.45
Days on Market2
Property Features for 5122 MAIN Street
General Information
Property type
Property subtype
Parking features
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Buildings
Listing Agency:
ExecuHome Realty
(443) 632-3000
Listed By:
Keiry Martinez · License MD #665028
(443) 226-9097
Added: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# MDQA2019288
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This detached, five-unit apartment property contains 2,655 square feet in a frame building constructed in 1954. Apartment 1 has two bedrooms and one bathroom; Apartments 2 through 5 each have one bedroom and one bathroom. Apartments 1, 2, and 5 are vacant, while Apartments 3 and 4 are occupied by long-term tenants. Current monthly rent totals $1,500, with voucher assistance in place for Apartment 3.
The property occupies a 0.64-acre lot on Main Street in Grasonville, Maryland. Building features include heat-pump heating, wall-unit cooling, and a parking lot.
The property occupies a 0.64-acre lot on Main Street in Grasonville, Maryland. Building features include heat-pump heating, wall-unit cooling, and a parking lot.
Key Highlights
- Five apartments with a 2,655‑square‑foot building area on 0.64 acres
- Apartment 1 has two bedrooms and one bathroom; the remaining four apartments each have one bedroom and one bathroom
- Apartments 1, 2, and 5 are vacant; Apartments 3 and 4 have long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,547
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,940
$630.9K
Cap Rate 7%
$450,671
$450.7K
Cap Rate 9%
$350,522
$350.5K
Market Conditions
NOI Build-Up for 2,655 SF
Gross rent
$61.8K $23.28/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$57.4K $21.60/SF
− OpEx
−$25.8K −$9.72/SF
NOI
$31.5K $11.88/SF
Area
Queen Anne's County, MD
Vacancy
7.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,940
Cap Rate 7%
$450,671
Cap Rate 9%
$350,522
Alternative Uses
Best Use
Apartment 5plus
$450.7K
$394.3K – $525.8K
NOI $31,547 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$721.9K
$631.6K – $842.2K
NOI $50,530 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 21638, MD
5,058
Population
2,219
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
93%
High-School Grad
9.9 sq mi
ZIP Area
511
Density / Sq Mi
$130,804
Median Household Income
$60,981
Median Earnings
$1,630
Median Rent
$491,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Detached frame construction includes three vacant apartments and two units occupied by long-term tenants.
Where is this apartment building located?
The property is located at 5122 MAIN Street Grasonville, MD.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Five apartments with a 2,655‑square‑foot building area on 0.64 acres; Apartment 1 has two bedrooms and one bathroom; the remaining four apartments each have one bedroom and one bathroom; Apartments 1, 2, and 5 are vacant; Apartments 3 and 4 have long‑term tenants
