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    17145 Cole Rd Westminster, MD 21740

    Sponsored
    For Lease
    Contact for pricing

    Prime 0.7-acre commercial lot, ready for development.

    Lot size:
    30,492 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 0.7-acre commercial land parcel, totaling 30,492 square feet, is ideally situated at 17145 Cole Road in Westminster, Maryland, zip code 21740. Located in Washington County, this single-tenant property presents a unique opportunity for businesses seeking a strategic location. The expansive lot offers significant potential for new construction or redevelopment, catering to a variety of commercial ventures. The property's size and location make it an attractive option for businesses requiring ample space and convenient access. The address is easily accessible from major roadways, ensuring excellent visibility and convenient transportation for employees and customers. This is a rare opportunity to acquire a sizable commercial land parcel in a thriving area of Maryland. The property is currently available for lease, offering flexibility for prospective tenants. Detailed site plans and zoning information are available upon request. Serious inquiries only. This property is zoned for commercial use and offers significant potential for a variety of businesses. The location provides easy access to local amenities and major transportation routes. Don't miss this chance to secure a prime commercial property in a rapidly growing market.

    Property Features for 17145 Cole Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    30,492 SF

    Unit(s) available at that property

    Space
    pad
    Size
    30,492 SF

    HighLights

    • 0.70‑acre buildable pad (approximate)
    • 8,930 average annual weekday daily traffic count (AAWDT) on Massey Boulevard
    • Strong co‑tenancy with Ross, DSW, Bob's Discount Furniture, Target, Michaels, Petco, and David's Bridal.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kohl's Department Store SEPHORA at Kohl's Cosmetics Store

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Westminster
    County
    Washington
    State
    Maryland
    Longitude
    -77.7761223
    Latitude
    39.6213268

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    FAQs

    What type of property is this?
    Land - Prime 0.7-acre commercial lot, ready for development.
    Where is this land located?
    The property is located at 17145 Cole Rd Westminster, MD.
    What are key features of this property?
    This property features: 0.70-acre buildable pad (approximate); 8,930 average annual weekday daily traffic count (AAWDT) on Massey Boulevard; Strong co-tenancy with Ross, DSW, Bob's Discount Furniture, Target, Michaels, Petco, and David's Bridal.
    Request Owner's contact information
    17145 Cole Rd Westminster, MD 21740
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    Westminster, MD 21740
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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.

    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
    17145 Cole Rd Westminster, MD 21740
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