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    97 Ritchie Hwy Pasadena, MD 21122

    Sponsored
    For Sale
    $3,995,000

    Prime C3 zoned land, redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.66-acre commercial land parcel presents a compelling redevelopment opportunity in the thriving Pasadena, Maryland market. Located at 97 Ritchie Highway (Route 2), this C3-zoned property boasts high visibility and convenient access to major thoroughfares, including Route 10, Route 100, and Route 695. The asking price is $3,995,000, translating to a land value of $34.50 per square foot. The site currently features a 1,296 square foot single-story metal utility building with a drive-in bay, offering potential for immediate use or future demolition. Two oversized curb cuts/driveways provide ample access from Ritchie Highway, enhancing the property's appeal for a variety of commercial ventures. This prime location and flexible zoning make this an ideal investment for developers seeking a high-impact project in a rapidly growing area. The property's strategic positioning ensures excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong presence in the Pasadena market. This is a rare opportunity to acquire a significant commercial land holding in a desirable location with significant development potential. The existing building provides flexibility for short-term use while long-term plans are developed.

    Property Features for 97 Ritchie Hwy

    General Information

    Property type
    Land
    Lot Size
    115,870 SF

    HighLights

    • $3,995,000 asking price.
    • 2.66‑acre commercial land parcel.
    • C3 zoning.
    • $34.50/SF land value.
    • Located at 97 Ritchie Hwy, Pasadena, MD 21122, with easy access to Routes 10, 100, and 695.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasadena
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.568919722631
    Latitude
    39.103262146492

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    FAQs

    What type of property is this?
    Land - Prime C3 zoned land, redevelopment opportunity.
    Where is this land located?
    The property is located at 97 Ritchie Hwy Pasadena, MD.
    What is the asking price?
    The asking price for this property is $3,995,000.
    What are key features of this property?
    This property features: $3,995,000 asking price.; 2.66-acre commercial land parcel.; C3 zoning.
    (410) 507-2918
    Request Owner's contact information
    97 Ritchie Hwy Pasadena, MD 21122
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    Realmo Value Estimation

    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.

    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
    97 Ritchie Hwy Pasadena, MD 21122
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