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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Main St Laurel, MD 20707-4118

    • Retail space
    • 736 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Sep 13, 2023
    $500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-0741101
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • gigi's ice cream shop / Cafe
    • High Five / Cafe / Ice Cream Shop

    Property Details for 502 Main St

    Year built
    1940
    Construction
    BRICK
    Lot size
    0.04 lot acres
    Property size
    736 SF
    Zone code
    LAUR
    Property type
    Retail space
    APN
    10-1103076
    APU
    101103076

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Laurel
    County
    Prince George's
    State
    Maryland
    Longitude
    -76.8506
    Latitude
    39.1068
    CBSA code
    47900
    CBSA name
    WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,340
    $0.00
    $0.00
    $141,900
    -
    $42,300
    $121,800
    $164,100

    Comparable in this City

    • Value Estimation
      $4,860,000
      8,540 SF

      13718 Baltimore Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,540 SF
      13718 Baltimore Ave, Laurel, MD 20707-5069
      View Details
    • Value Estimation
      $665,000
      1,921 SF

      365 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,921 SF
      365 Main St, Laurel, MD 20707-4131
      View Details
    • Value Estimation
      $585,000
      4,400 SF

      349 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      349 Main St, Laurel, MD 20707-4179
      View Details
    • Value Estimation
      $2,965,000
      10,500 SF

      322 Main St

      RETAIL STORES (PERSONAL SERVICES) • 10,500 SF
      322 Main St, Laurel, MD 20707-4114
      View Details
    • Value Estimation
      $615,000
      2,000 SF

      500 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      500 Main St, Laurel, MD 20707-4118
      View Details
    • Value Estimation
      $605,000
      8,400 SF

      389 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,400 SF
      389 Main St, Laurel, MD 20707-4132
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,590 SF

      Retail Space with Established Tenants

      Retail property featuring a hair salon and bakery.
      14123 Baltimore Ave, Laurel, MD 20707
      View Details
    • $1,195,000
      5,616 SF

      Renovated Multifamily Building with Parking

      Renovated 6-unit building with commercial space and parking.
      120 2Nd St, Laurel, MD 20707
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    • Contact for pricing
      2.70 Acres

      Laurel Retail Space - High Visibility

      Spacious Studio, Ample Parking, High-Rise Views
      312 Marshall Ave Unit 600 - Un, Laurel, MD 20707
      View Details
    • $1,200,000
      4,408 SF

      Turnkey Restaurant with Apartment Above

      Restaurant with apartment above on Main Street, Laurel, MD.
      363 Main St, Laurel, MD 20707
      View Details
    • Contact for pricing
      2.70 Acres

      Laurel Retail Space - 2.7 Acres

      Spacious Studio Retail Space, Ample Parking
      312 Marshall Ave Unit, Laurel, MD 20707
      View Details
    • Contact for pricing

      Laurel Office Space: Prime Location

      Affordable Office Suites in Laurel, MD
      14440 Cherry Ln Ct Unit, Laurel, MD 20707
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      33,632 SF

      Retail Space in Established Center

      Move-in ready retail space in a highly visible neighborhood center.
      9105 All Saints Rd, Laurel, MD 20707
      View Details
    • Contact for pricing
      6,626 SF

      Retail Space in Laurel, MD

      Retail space available in community shopping center.
      351-357 Montrose Ave, Laurel, MD 20707
      View Details
    • Contact for pricing
      1,462 SF

      Retail Spaces with High Visibility

      Multiple retail spaces available with high traffic and signage.
      201-221 Gorman Ave, Laurel, MD 20707
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Laurel, MD

      2100 SF retail space available for rent.
      14402 Baltimore Ave, Laurel, MD 20707
      View Details
    • $24 SF/Yr

      Laurel Retail and Office Space

      Retail and office spaces available in Laurel Lakes Corporate Center.
      13990 Baltimore Ave, Laurel, MD 20707
      View Details
    • $32 SF/Yr
      20,136 SF

      Laurel Retail Center on Route 1

      Retail spaces in a high-traffic Laurel commercial corridor.
      14201 Baltimore Ave, Laurel, MD 20707
      View Details
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    502 Main St
    Laurel, MD 20707-4118
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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