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    1424 E Joppa Rd Baltimore, MD 21286

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    For Sale
    $385,000

    Well-maintained commercial property with consistent rental income in Towson.

    Lot size:
    0.14 Acres

    Property Features for 1424 E Joppa Rd

    General Information

    Standard status
    Active
    Lot size
    0.14 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Barbara A. Todd
    Source: Corcoran

    Listing Agency: CASA BELLA REALTY, LLC. Listing Agent: Barbara A. Todd

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

    Learn more

    Overview

    Commercial Property in Bustling Business District

    Located in the bustling business district on East Joppa Road in Towson, this well-maintained property is zoned Residential/Office. The property is conveniently located just over a mile from 695, positioning it for small businesses seeking a high-traffic area. The property is currently rented as two separate offices. The lower office rental unit features a private rear entrance, a manager's office with glass doors, an open area suitable for four to five employees, a kitchenette, and a half bath. It has LVP flooring and electric baseboard heat and is currently rented at $1,000 a month until 6/30/2025. The landlord holds a $1,000 security deposit. The lease has an auto-renewal option with an escalation clause to $1,100 for the second year, and then the auto-renewal allows renters to renew with a 5% increase per year. The upper unit entrance is located on E. Joppa Road and includes a ramp for accessibility. This office space consists of two levels. The first level includes a reception area/living room with a fully functional fireplace and two additional rooms that can be used as offices and/or storage, and a half bathroom. The bonus area includes a conference/meeting area and a full kitchen with updated cabinets and appliances. It has LVP flooring. The top level includes two additional rooms, hardwood flooring, and a full bath. The upper suite is rented at $1,950 a month until 8/31/26. The lease has an auto-renewal option with an escalation clause to $2145 for the next year, with a 5% increase from year to year after this term. Both units have separate electrical meters. Rent includes snow removal and lawn care. The water bill is paid by the renter of the main/upper-level unit. The property has paved parking for 13 cars, with short-term parking leases in the back that can be terminated within three months. There is a stoned patio shared with the office building next door. Newly installed signage with valid permits is present on Joppa Road. The windows on the top floor were replaced in 2012, and the lower unit windows were replaced in 2019. The main floor has replacement windows. Exterior storage is available under the porch.
    Location Intelligence

    Current Use by Public Records

    BTS Cruise Center Travel Agency Mc Fee Sr ... Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6371915
    Latitude
    39.4109572

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    FAQs

    What type of property is this?
    Office building - Well-maintained commercial property with consistent rental income in Towson.
    Where is this office building located?
    The property is located at 1424 E Joppa Rd Baltimore, MD.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: - Fully rented commercial property generating consistent rental income with leases in place until 2025 and 2026, offering immediate cash flow for investors.; - Prime location on East Joppa Road in a bustling business district of Towson, providing high visibility and traffic for tenants.; - Zoned Residential/Office, offering flexibility for various business types.
    (410) 877-5785
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    Baltimore, MD 21286
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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
    1424 E Joppa Rd Baltimore, MD 21286
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    We can help!
    Listing Contact
    Barbara A. Todd
    (410) 877-5785 (443) 802-6714
    Learn more
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