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    10829 Falls Rd Lutherville Timonium, MD

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    For Sale
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    Boutique office/retail building in Greenspring Valley, renovated in 2000.

    Type:OFFICE
    Property size:
    2,349 SF
    Lot size:
    0.40 Acres
    Added:
    Aug 21, 2025
    Days on Market:
    224
    Last Refresh:
    Mar 29 at 8:23 pm

    Property Features for 10829 Falls Rd

    General Information

    Standard status
    Active
    Size
    2,349 SF
    Lot size
    0.40 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Mike Ruocco
    Mike Ruocco

    Listing agent Mike Ruocco License #MD 641180

    Listing office MacKenzie Commercial Real Estate - Corporate

    Listing date Aug 21, 2025

    Source Moodyscre

    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 MacKenzie Commercial Real Estate - Corporate

    Overview

    Boutique Office/Retail Building For Sale

    Offered for sale for the first time in 26 years, this boutique office/retail building is located in the heart of Greenspring Valley. The property is situated in a park-like setting with visibility and pylon signage fronting Falls Road, which sees over 20,000 vehicles per day. It is also located steps from Greenspring Station and the Johns Hopkins complex. The building was fully renovated in 2000 and features built-in furnishings throughout. The property has access to I-83, I-695, Lutherville, Towson, and surrounding areas. The property has public water and an on-site septic system. The building size is 2,349 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Consolidated Equities Corporation Real Estate Agency Zander Homes Construction Company Lauren Hurlbrink Interiors Interior Design

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lutherville Timonium
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6707
    Latitude
    39.4226

    Nearby Similar for Sale

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      4,242 SF

      Spacious Colonial on Two Acres

      Multi-generational home with pool, in-law suite, and ample space.
      11704 Woodland Dr, Lutherville Timonium, MD 21093
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    • $450,000

      Residential Office Building on Corner

      Residential office building on corner lot with parking.
      1511 York Rd, LUTHERVILLE TIMONIUM, MD 21093
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    • $600,000

      High Visibility Office Space For Sale

      Office space with high traffic and flexible configuration.
      2063 York, LUTHERVILLE TIMONIUM, MD 21093
      View Details

    FAQs

    What type of property is this?
    Office building - Boutique office/retail building in Greenspring Valley, renovated in 2000.
    Where is this office building located?
    The property is located at 10829 Falls Rd Lutherville Timonium, MD.
    What are key features of this property?
    This property features: Prominent location in the heart of Greenspring Valley.; High visibility with pylon signage and 20,000+ vehicles per day on Falls Road.; Steps from Greenspring Station and the Johns Hopkins complex.
    (410) 627-6881
    We can help!
    Listing Contact
    Mike Ruocco
    Mike Ruocco
    Real Estate License ID: MD 641180
    Learn More
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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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