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    Bel Air Commercial/Institutional Property Title is generated by Realmo AI

    116 Alice Ann St, Bel Air, MD 21014

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    Claim this Listing
    For Sale
    $1,500,000

    Commercial/institutional property in Bel Air, close to downtown.

    Type:Commercial
    Property size:
    4,812 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $311/SF
    Added:
    Dec 22, 2025
    Days on Market:
    165
    Last Refresh:
    May 10 at 10:30 pm

    Property Features for 116 Alice Ann St

    General Information

    Standard status
    Active
    Size
    4,812 SF
    Lot size
    0.23 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1917

    We can help!

    Listing Contact
    MICA LYN ENGLISH

    Listing agent MICA LYN ENGLISH License #680182

    Listing office CUMMINGS & CO. REALTORS

    Listing date Dec 22, 2025

    Source Corcoran

    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 CUMMINGS & CO. REALTORS

    HighLights

    • Strategically located near downtown Bel Air and the MD‑24 commercial corridor.
    • Offers approximately 4,812 square feet of building area on a ±0.23 acre lot.
    • Suitable for various commercial, office, institutional, nonprofit, or special‑purpose uses (subject to zoning).
    • Close proximity to Harford Mall, downtown Bel Air amenities, and major commuter routes.
    • Historically used for congregational and community purposes with a functional layout.
    • Located in an area with residential neighborhoods, community institutions, and retail services.

    Overview

    Located at 116 Alice Ann Street in Bel Air, this commercial/institutional property is strategically positioned near downtown Bel Air and the MD-24 commercial corridor. The property includes an estimated 4,812 square feet of building area on an approximately 10,019 square foot lot, which is about 0.23 acres. The site is suitable for various commercial, office, institutional, nonprofit, or special-purpose uses, pending zoning verification and buyer due diligence. The surrounding area features a mix of residential neighborhoods, community institutions, and retail services, offering convenient access and long-term stability. The property is located minutes from Harford Mall, downtown Bel Air amenities, and major commuter routes serving Harford County and the greater Baltimore region. Historically used for congregational and community purposes, the building has a functional layout that can accommodate continued institutional use or be repositioned for alternative commercial applications. The property is being sold strictly AS-IS, with the seller making no repairs. Buyers are responsible for conducting all inspections and verifying zoning, square footage, permitted uses, and development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    New Hope Baptist ... Church

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bel Air
    County
    Harford
    State
    Maryland
    Longitude
    -76.3523
    Latitude
    39.5363

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    FAQs

    What type of property is this?
    Church & religious facility - Commercial/institutional property in Bel Air, close to downtown.
    Where is this church & religious facility located?
    The property is located at 116 Alice Ann St Bel Air, MD.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Strategically located near downtown Bel Air and the MD‑24 commercial corridor.; Offers approximately 4,812 square feet of building area on a ±0.23 acre lot.; Suitable for various commercial, office, institutional, nonprofit, or special‑purpose uses (subject to zoning).
    (410) 823-0033
    We can help!
    Listing Contact
    MICA LYN ENGLISH
    Real Estate License ID: 680182
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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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