Triplex on RO Residential Office
For Sale
$975,000
707 N HICKORY Avenue, Bel Air, MD 21014
MULTI_FAMILY - BEL AIR, MD
Property Size3,687 SF
Lot Size1.18 Acres
Price / SF$264.44
Days on Market47
Property Features for 707 N HICKORY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot
Appliances
Dryer, Washer, Stainless Steel Appliances, Oven/Range - Gas, Refrigerator
Elementary school district
HARFORD COUNTY PUBLIC SCHOOLS
Middle school district
HARFORD COUNTY PUBLIC SCHOOLS
High school district
HARFORD COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
3,687 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Annual Amount
9577
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1920
Number of units
4
Building materials
Concrete, Shingle Siding
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 814-2400
Listed By:
Andrew Undem · License #646143
(410) 322-3670
Added: Jun 16
Last Checked: Aug 1 at 8:06AM
MLS# MDHR2056480
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.
Investment Insights
Based on property information with market context.
This property at 707 N Hickory Avenue in Bel Air, Maryland is a standalone commercial/multi-family building configured as three residential units. Each apartment is a 2-bedroom, 1.5-bath layout. Two of the apartments have been completely renovated, and the asset is currently producing more than $65,000 annually. The site is set on a 1.18-acre lot and includes an expansive, paved parking area with 15 clearly lined spaces plus dedicated handicap-accessible parking and building access.
The property is positioned at a highly visible stoplight intersection at N. Hickory Avenue and Moores Mill Road, supporting strong drive-by exposure. The RO (Residential Office) zoning provides a flexible framework for professional and related uses alongside the existing residential income component. The building is also described as being within walking distance of downtown Bel Air shops, dining, and amenities.
For buyers, this is a turnkey option that combines residential income with a zoning designation that may appeal to owner-users seeking operational flexibility. For leasing prospects, the RO zoning supports professional, medical, dental, or retail uses while retaining the benefit of on-site, paved parking and accessible entry for clients and tenants. For developers, the over-an-acre site size supports future redevelopment planning subject to applicable approvals.
The property is positioned at a highly visible stoplight intersection at N. Hickory Avenue and Moores Mill Road, supporting strong drive-by exposure. The RO (Residential Office) zoning provides a flexible framework for professional and related uses alongside the existing residential income component. The building is also described as being within walking distance of downtown Bel Air shops, dining, and amenities.
For buyers, this is a turnkey option that combines residential income with a zoning designation that may appeal to owner-users seeking operational flexibility. For leasing prospects, the RO zoning supports professional, medical, dental, or retail uses while retaining the benefit of on-site, paved parking and accessible entry for clients and tenants. For developers, the over-an-acre site size supports future redevelopment planning subject to applicable approvals.
Key Highlights
- Standalone commercial/multi‑family building on a 1.18‑acre lot, producing over $65,000 annually
- Three apartments: each unit has 2 bedrooms and 1.5 bathrooms; two units have been completely renovated
- Zoned RO (residential office) with flexible use for professional, medical, dental, or retail users
Financial Insights For Multifamily LT 5
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 | $81.9k | $22.20 |
| − Vacancy | −$6.1k | −$1.67 |
| EGI | $75.7k | $20.54 |
| − OpEx | −$22.7k | −$6.16 |
| NOI | $53.0k | $14.37 |
3,687 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$757.1K
$662.5K – $883.3K
NOI $52,999 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$705.3K
$617.2K – $822.9K
NOI $49,373 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,811 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
Explore this area
Business Placement
Demographics for 21014, MD
38,395
Population
14,975
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$113,825
Median Household Income
$59,656
Median Earnings
$1,571
Median Rent
$407,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Standalone triplex with RO zoning and on-site parking for 15 vehicles, including accessible spaces.
Where is this triplex located?
The property is located at 707 N HICKORY Avenue Bel Air, MD.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Standalone commercial/multi‑family building on a 1.18‑acre lot, producing over $65,000 annually; Three apartments: each unit has 2 bedrooms and 1.5 bathrooms; two units have been completely renovated; Zoned RO (residential office) with flexible use for professional, medical, dental, or retail users
