Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2415 Velvet Ridge Dr Owings Mills, MD 21117

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,395,000

    Specialty property for sale in Owings Mills, Maryland.

    Lot size:
    1.42 Acres

    Property Features for 2415 Velvet Ridge Dr

    General Information

    Lot size
    1.42 Acres

    Building Details

    Year built
    1985

    We can help!

    Listing Contact
    Maria A. Saffron
    Source: Elliman

    Listing Agent: Maria A. Saffron

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Owings Mills Specialty Property

    A specialty property located on Velvet Ridge Drive in Owings Mills, Maryland. The list price is $1,395,000.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Realty agency Law Firm Dental Office Clothing Store Auto Repair Shop Pharmacy Accounting Firm Hotel & Motel Computer & Electronic Repair Tech Support Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Owings Mills
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.7326747
    Latitude
    39.4265065

    Nearby Similar for Sale

    • $239,900
      1,200 SF

      Owings Mills Professional Office Condo

      Turnkey medical/professional condo with flexible layout and convenient access.
      20 Crossroads Dr, Owings Mills, MD 21117
      View Details
    • $5,517,037
      10,000 SF

      Owings Mills Learning Experience Asset

      10,000 SF NNN asset with a long-term lease.
      9300 Lyons Mill Rd, Owings Mills, MD 21117
      View Details
    • $395,000
      2,200 SF

      Well-Maintained Townhome with Finished Basement

      Stylish, spacious townhome with modern finishes, move-in ready condition.
      96 Conewago Ct, Owings Mills, MD 21117
      View Details
    • $3,500,000

      Retail Property Near Foundry Row

      Freestanding retail buildings with drive-thru near Wegmans and Metro Centre.
      10117 Reisterstown Rd, Owings Mills, MD 21117
      View Details
    • $349,999
      1,980 SF

      Refreshed Home with Modern Updates

      Updated 3-bedroom home with new appliances and community pool access.
      12 Englefield Sq, Owings Mills, MD 21117
      View Details
    • $240,000

      First Floor Condo with Privacy

      Open floor plan, 2 bedrooms, 2 baths, new floors.
      3006 Hunting Ridge Dr, Owings Mills, MD 21117
      View Details
    • $300,000

      Renovated Townhouse in Owings Mills

      Fully renovated townhouse with reliable rental income in Owings Mills.
      9314 Countess Dr, Owings Mills, MD 21117
      View Details
    • $725,000

      Specialty Property For Sale

      Specialty property available for purchase in Owings Mills, Maryland.
      19 Latimore Way, Owings Mills, MD 21117
      View Details
    • $545,000

      Owings Mills Specialty Property

      Specialty property available for sale in Owings Mills.
      604 Academy Ave, Owings Mills, MD 21117
      View Details
    • $329,900

      Owings Mills Specialty Property

      Specialty property available for sale in Owings Mills, Maryland.
      49 Merino Ct, Owings Mills, MD 21117
      View Details
    • $2,495,000

      Owings Mills Specialty Property

      Specialty property available for sale in Owings Mills, Maryland.
      333 Golf Course Rd, Owings Mills, MD 21117
      View Details
    • $329,900

      Owings Mills Specialty Property

      Specialty property available for sale in Owings Mills, Maryland.
      25 Samantha Ct, Owings Mills, MD 21117
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property for sale in Owings Mills, Maryland.
    Where is this specialty property located?
    The property is located at 2415 Velvet Ridge Dr Owings Mills, MD.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: - Year Built: 1985
    (410) 830-1210
    Request Owner's contact information
    2415 Velvet Ridge Dr Owings Mills, MD 21117
    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.
    2415 Velvet Ridge Dr
    Owings Mills, MD 21117
    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
    2415 Velvet Ridge Dr Owings Mills, MD 21117
    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

    We can help!
    Listing Contact
    Maria A. Saffron
    (410) 830-1210
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.