Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Warehouse Space Near BWI Airport Title is generated by Realmo AI

    521 McCormick Drive, Hanover, MD 21076

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Industrial warehouse space with excellent access to major transportation routes.

    Type:Industrial
    Property size:
    112,500 SF
    Added:
    Nov 22, 2025
    Days on Market:
    181
    Last Refresh:
    May 19 at 10:45 pm

    Property Features for 521 McCormick Drive

    General Information

    Standard status
    Active
    Size
    112,500 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 521 McCormick Drive Contact us

    We can help!

    Listing Contact
    Jared Ross

    Listing agent Jared Ross

    Listing office CBRE | Baltimore

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Baltimore

    HighLights

    • Adjacent to BWI Airport
    • Located in the International Trade Center Business Park
    • Excellent access to I‑95
    • Excellent access to I‑97
    • Access via Route 100
    • In the heart of the Baltimore/Washington Corridor

    Overview

    Located in the International Trade Center Business Park, the property at 521 McCormick Drive is situated adjacent to BWI Airport. It benefits from its location in the Baltimore/Washington Corridor, offering access to I-95 and I-97 via Route 100. The property encompasses a total area of 112500 square feet and is suitable for warehouse, industrial, and distribution purposes.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • Iron Mountain — 7020 Dorsey Rd, Hanover, MD 21076
    • Perry Moving & Storage — 7247 National Dr, Hanover, MD 21076
    • Extra Space Storage — 1308 Dorsey Rd, Hanover, MD 21076
    • Extra Space Storage — 7492 New Ridge Rd, Hanover, MD 21076
    • Zippy Shell Anne Arundel and Howard County — 7247 National Dr, Hanover, MD 21076

    Map

    City
    Hanover
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.7201
    Latitude
    39.1701

    Nearby Similar for Lease

    • $25 SF/Yr
      4,619 SF

      Hanover Office Space For Rent

      75,272 SF property with 13,979 SF available.
      7467 Ridge Rd, Hanover, MD
      View Details
    • $17 SF/Yr
      5,000 SF

      Turnkey Flex Space with Warehouse

      Flex space with office layout and warehouse with dock doors.
      941 Mercantile Dr, Hanover, MD
      View Details
    • $19 SF/Yr
      7,443 SF

      Hanover Office Space For Rent

      Office space available in Hanover, Maryland.
      7250 Parkway Dr, Hanover, MD
      View Details
    • Contact for pricing
      11,552 SF

      Class A Office Building Hanover

      63,000 SF Class A office building near BWI Airport.
      7030 Dorsey Road, Hanover, MD, 21076
      View Details
    • Contact for pricing
      2,020 SF

      Arundel Mills Retail Space Available

      Retail spaces for lease in Arundel Mills Corporate Park.
      7550 Teague Rd, Hanover, MD 21076
      View Details
    • $17 SF/Yr

      Turnkey Flex Space Sublease

      5,000 SF flex space near BWI Airport.
      941 Mercantile Drive Suite A-B, Hanover, MD 21076
      View Details
    • Contact for pricing
      3,000 SF

      Flex Space Near BWI Airport

      Flex/R&D space near BWI Airport with connections to major routes.
      980 Mercantile Dr, Hanover, MD
      View Details
    • Contact for pricing
      25,173 SF

      Corporate Office & Training Center

      Newly built office and training center available for sublease.
      7031 Ridge Rd, Hanover, MD 21076
      View Details
    • Contact for pricing
      26,174 SF

      Flex Space Near BWI Airport

      Flex space in Techwood Business Park, convenient location.
      1340 Charwood Road, Hanover, MD, 21076
      View Details
    • Contact for pricing
      48,214 SF

      Flex Space Near BWI Airport

      Flex space in Techwood Business Park, convenient location.
      1342 Charwood Road, Hanover, MD, 21076
      View Details
    • Contact for pricing
      50,000 SF

      Industrial Building A For Lease

      50,000 SF industrial building available for lease.
      7351 Coca Cola Dr, Hanover, MD 21075
      View Details
    • Contact for pricing
      23,785 SF

      Flex Space Near BWI Airport

      Flex space in Techwood Business Park, convenient location.
      1352 Charwood Road, Hanover, MD, 21076
      View Details

    FAQs

    What type of property is this?
    Warehouse - Industrial warehouse space with excellent access to major transportation routes.
    Where is this warehouse located?
    The property is located at 521 McCormick Drive Hanover, MD.
    What are key features of this property?
    This property features: Adjacent to BWI Airport; Located in the International Trade Center Business Park; Excellent access to I‑95
    (240) 994-6477
    We can help!
    Listing Contact
    Jared Ross
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    521 McCormick Drive, Hanover, MD, 21076
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!