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    Property profile & analytics

    204 Carroll Is Rd Middle River, MD 21220

    • Grocery and convenience stores
    • 2,640 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    Jun 14, 2022
    $470,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    6.7%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US40-0941213
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 204 Carroll Is Rd

    Construction
    BRICK
    Lot size
    0.58 lot acres
    Property size
    2,640 SF
    Zone code
    BLCCC
    Property type
    Grocery and convenience stores
    APN
    15-1519610920
    APU
    151519610920

    Description

    This auction presents a prime redevelopment opportunity for a vacant, 2,640 square foot freestanding retail building situated on a 0.58-acre lot in Middle River, Maryland. Previously a 7-Eleven, this single-story building boasts a convenient location at the intersection of Bowleys Quarters Road (16,541 VPD) and Carroll Island Road (15,651 VPD), offering exceptional visibility and high traffic counts totaling approximately 32,192 vehicles per day. The property is shadow-anchored by a Walmart and benefits from proximity to other national retailers including Dollar Tree, True Value, Advance Auto Parts, Dunkin', McDonald's, and Walgreens. The property features 12 surface parking spaces. Zoned BL (Business Local), this versatile property allows for a variety of uses, including retail, restaurant, financial, office, medical clinic, and car wash (with special exception). The surrounding area is densely populated, with approximately 111,830 people residing within a 5-mile radius and an average household income of approximately $94,390. The auction begins at $150,000 and takes place November 4-6, 2024. The property is vacant and ready for immediate occupancy starting September 1, 2024. This fee simple ownership offers significant potential for value enhancement through lease-up or owner-occupancy. The property's address is 204 Carroll Island Rd, Middle River, MD 21220.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $625,000
      6.5%
      $575,000
      7%
      $535,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Middle River
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.3981
    Latitude
    39.3371
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,145
    $0.00
    $0.00
    $346,033
    -
    $175,300
    $227,800
    $403,100

    Comparable in this City

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      4,360 SF

      1302 Windlass Dr

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      1302 Windlass Dr, Baltimore, MD 21220-4108
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    • Value Estimation
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      2,760 SF

      3 Compass Rd

      CONVENIENCE STORE • 2,760 SF
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    • Value Estimation
      $420,000
      4,808 SF

      9502 Pulaski Hwy

      CONVENIENCE STORE • 4,808 SF
      9502 Pulaski Hwy, Baltimore, MD 21220
      View Details
    • Value Estimation
      $425,000
      5,700 SF

      11905 Market Way

      CONVENIENCE STORE • 5,700 SF
      11905 Market Way, Middle River, MD 21220-2160
      View Details
    • Value Estimation
      $375,000
      3,936 SF

      3320 Eastern Blvd

      CONVENIENCE STORE • 3,936 SF
      3320 Eastern Blvd, Baltimore, MD 21220-2825
      View Details
    • Value Estimation
      $1,050,000
      38,912 SF

      1413 Fuselage Ave

      GROCERY, SUPERMARKET • 38,912 SF
      1413 Fuselage Ave, Middle River, MD 21220-4638
      View Details

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    Similar Nearby for Lease

    • New
      $2,400 /Mo
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      Commercial Space in Middle River

      Commercial space with open floor plan, ready for immediate occupancy.
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      View Details
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      Retail space with high traffic and development potential.
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      Versatile Retail Space Available

      Large retail space suitable for diverse business ventures.
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      View Details
    • New
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      MIDDLE RIVER Commercial Units Available

      Multiple commercial and residential units available for lease in MIDDLE RIVER.
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      View Details
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      Retail Space with Roadside Visibility

      Retail space with high traffic and development potential.
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      View Details
    • Contact for pricing
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      Greenleigh: Flex & R&D Space

      1M+ SF Flex/R&D; Baltimore County
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      View Details
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    204 Carroll Is Rd
    Middle River, MD 21220
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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
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