Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    37 W Bel Air Ave Aberdeen, MD 21001

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4,934 /Mo

    Second-generation restaurant space in prime downtown location.

    Lot size:
    0.23 Acres

    Property Features for 37 W Bel Air Ave

    General Information

    Standard status
    Active
    Lot size
    0.23 Acres

    Building Details

    Year built
    1953

    We can help!

    Listing Contact
    David R Feazell
    David R Feazell
    Source: Corcoran

    Listing Agency: GARCEAU REALTY Listing Agent: David R Feazell

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

    Learn more

    Overview

    Downtown Restaurant Space Available

    Bel Parke Plaza is a multi-tenant retail and office center constructed with brick and stucco. The property is situated adjacent to Parke Place, South Parke, and Grace United Methodist Church. Signage is available on the front of the building. The property benefits from ample rear street parking. The available 3,200-square-foot second-generation restaurant space was previously Frank’s Pizza. The commercial kitchen includes all furniture, fixtures, and equipment. The space features 10-foot drop ceilings and is located in an area with TOD zoning. Over 14,000 cars pass the site daily. The property is located in a prime downtown location with a population of 54,000 people living within a 5-mile radius.
    Location Intelligence

    Current Use by Public Records

    Franks Pizza Restaurant ATM (Aberdeen Exxon) Atm Firm Insurance Aberdeen ... Car Dealership

    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.

    Similar Places Nearby

    The Red Velvet Catering, TheNutRoasters, LLC, Maison Intimate Catering

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Harford
    State
    Maryland
    Longitude
    -76.1650881
    Latitude
    39.5102216

    Nearby Similar for Lease

    • $4,934 /Mo

      Restaurant Space in Bel Air

      Restaurant space available for rent in Bel Parke Plaza.
      37 W Bel Air Ave, Aberdeen, MD 21001
      View Details
    • $17 SF/Yr
      1,325 SF

      Retail Space in Aberdeen, MD

      Retail space available for lease in Aberdeen, Maryland.
      33-37 W Bel Air Ave, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      7,319 SF

      Office Space Available For Rent

      Office space available for rent, offering 3,200 square feet.
      1104 S Philadelphia Blvd, Aberdeen, MD 21001
      View Details
    • $1,000 /Mo

      Aberdeen Retail Storefront for Lease

      Street-level retail space with open layout and display windows.
      10 N Parke St, Aberdeen, MD 21001
      View Details
    • Contact for pricing

      Premier Shopping Center in Aberdeen

      Anchored by Shop Rite and Home Depot near I-95.
      950 Middleton Rd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      2,345 SF

      Retail Space Near Ripken Stadium

      Retail space for lease near Leidos Field at Ripken Stadium.
      3700 Churchville Rd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      33,315 SF

      Class A Office Space Available

      Office space for rent near Aberdeen Proving Ground.
      206 Research Blvd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      5,433 SF

      Class A Office Space Available

      Office space for rent near Aberdeen Proving Ground.
      209 Research Blvd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      9,000 SF

      Retail Space in Premier Shopping Center

      Retail space available in Aberdeen's premier shopping center.
      939-979 Beards Hill Rd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      1,600 SF

      Restaurant and Retail Space Available

      Restaurant and retail spaces for lease with pylon signage.
      744 S Philadelphia Blvd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Ripken Stadium

      Retail space for lease near Leidos Field at Ripken Stadium.
      3726 Churchville Rd, Aberdeen, MD 21001
      View Details
    • Contact for pricing
      1,250 SF

      Aberdeen Retail Space For Lease

      Retail space available in Aberdeen, shadow-anchored by Target.
      1010-1022 Beards Hill Rd, Aberdeen, MD 21001
      View Details

    FAQs

    What type of property is this?
    Restaurant - Second-generation restaurant space in prime downtown location.
    Where is this restaurant located?
    The property is located at 37 W Bel Air Ave Aberdeen, MD.
    What is the lease rate?
    The lease rate is $4,934 /Mo.
    What are key features of this property?
    This property features: - Prime downtown location; - 3,200sf 2nd generation restaurant space (previously Frank’s Pizza); - Commercial kitchen with all FFE included
    (410) 803-0714
    Request Owner's contact information
    37 W Bel Air Ave Aberdeen, MD 21001
    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.
    37 W Bel Air Ave
    Aberdeen, MD 21001
    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
    37 W Bel Air Ave Aberdeen, MD 21001
    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
    David R Feazell
    David R Feazell
    Real Estate License ID: 674137
    (410) 803-0714 (443) 299-7937
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!