Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Glen Burnie Flex/R&D Space Title is generated by Realmo AI

    190 Penrod Ct, Glen Burnie, MD

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

    Flex/R&D space in Glen Burnie business center.

    Type:FLEX_R_AND_D
    Property size:
    12,000 SF
    Lot size:
    26.47 Acres
    Added:
    Nov 10, 2023
    Days on Market:
    920
    Last Refresh:
    Apr 5 at 10:15 pm

    Property Features for 190 Penrod Ct

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Lot size
    26.47 Acres
    Property subtype
    FLEX_R_AND_D

    Spaces For Lease

    at 190 Penrod Ct Contact us

    We can help!

    Listing Contact
    Claire Cobert

    Listing agent Claire Cobert

    Listing office St. John Properties - Corporate

    Listing date Nov 10, 2023

    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 St. John Properties - Corporate

    HighLights

    • Easy access to MD Rt. 2, I‑97, and Baltimore‑Washington Parkway (I‑295)
    • Located off MD Rt. 648 (Balto.-Annapolis Blvd.) and Dorsey Road
    • Quick and easy connections to Baltimore and Washington, D.C.
    • Proximity to BWI Airport, Annapolis, and Columbia
    • 21‑acre Anne Arundel County business community
    • 310,010 square feet of flex/R&D space

    Overview

    The Glen Burnie business center is situated off Maryland Route 648 (Baltimore-Annapolis Boulevard) and Dorsey Road, providing convenient access to Maryland Route 2, Interstate 97, and the Baltimore-Washington Parkway (I-295). This 21-acre Anne Arundel County business community encompasses 310,010 square feet of flex/R&D space. It offers connections to Baltimore and Washington, D.C., as well as BWI Airport, Annapolis, and Columbia. The available property offers 12,000 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mc Gyver Metal ... Metal Fabrication Plant Arundel Metal Products ... Metal Fabrication Plant Chesapeake Distributing, LLC Big Box & Wholesale Store Dove Linen Rental Rental Equipment Company DEK Drain Hardware & Home Improvement

    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
    Glen Burnie
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6285
    Latitude
    39.1773

    Nearby Similar for Lease

    • $2,700/Mo

      Glen Burnie Commercial Lease Opportunity

      Negotiable square footage available for lease in Glen Burnie.
      208 CRAIN Highway, GLEN BURNIE, MD 21061
      View Details
    • $1,900/Mo

      Move-in Ready Glen Burnie Office

      Open office space with natural light in Glen Burnie.
      308 CRAIN Highway N, GLEN BURNIE, MD 21061
      View Details
    • $1,600/Mo

      C3-Zoned Commercial Building For Rent

      Versatile commercial building suitable for office, retail, or service operations.
      1018 CRAIN Hwy, Glen Burnie, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space Available

      Office space for lease near BWI and Northrop Grumman.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space For Rent

      Office space near BWI and Northrop Grumman. Utilities included.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space Available

      Office space for lease near BWI and Northrop Grumman.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space Available

      Office space for lease near BWI and Northrop Grumman.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space For Rent

      Office space near BWI and Northrop Grumman. Utilities included.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $20 SF/Yr

      Glen Burnie Office Space For Rent

      Office space near BWI and Northrop Grumman. Utilities included.
      898 AIRPORT PARK Road, GLEN BURNIE, MD 21061
      View Details
    • $2,700/Mo

      Medical/Dental Office Space Available

      Negotiable medical/dental office space for lease.
      208 CRAIN Hwy, Glen Burnie, MD 21061
      View Details
    • Contact for pricing
      7,560 SF

      Glen Burnie Office Space

      7560 sqft coworking and office space in Glen Burnie.
      501 McCormick Dr, Glen Burnie, MD 21061
      View Details
    • $750/Mo

      Office Space in Glen Burnie

      Office space with shared amenities, accessible to shopping and highways.
      1412 CRAIN Highway N, GLEN BURNIE, MD 21061
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex/R&D space in Glen Burnie business center.
    Where is this flex space located?
    The property is located at 190 Penrod Ct Glen Burnie, MD.
    What are key features of this property?
    This property features: Easy access to MD Rt. 2, I‑97, and Baltimore‑Washington Parkway (I‑295); Located off MD Rt. 648 (Balto.-Annapolis Blvd.) and Dorsey Road; Quick and easy connections to Baltimore and Washington, D.C.
    (410) 788-0100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Claire Cobert
    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
    190 Penrod Ct, Glen Burnie, MD
    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!