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    3060 Route 97 Glenwood, MD 21738

    Sponsored
    For Lease
    $20 SF/Yr

    Executive suites, flexible lease terms.

    Lot size:
    45,546 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    Glenwood Office Park, located at 3060 Route 97 in Glenwood, Maryland 21738, offers exceptional executive office space for lease. This Howard County property boasts a total of 45,546 square feet, situated on a generous 3.16-acre lot. The building, constructed in 1988, provides multiple tenancy options with a minimum divisible space of 150 square feet and a maximum contiguous space of 6,000 square feet. Currently, 9,600 square feet of space is available for lease. The flexible layout caters to a variety of business needs, with suites ranging in size to accommodate diverse requirements. Shared amenities enhance the tenant experience, including three conference rooms available for tenant use and a large atrium ideal for meetings and gatherings. This location provides easy access to Route 97, offering convenient commuting options. The property presents a unique opportunity for businesses seeking high-quality, adaptable office space in a desirable location. Inquire today to explore the available options and secure your ideal workspace within this established office park.

    Property Features for 3060 Route 97

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    45,546 SF
    Total Rate
    75910

    Building Details

    Year Built
    1988

    Unit(s) available at that property

    Space
    Suite 101
    Size
    1,600 SF
    Rate per SF
    $23
    Space
    Suite 201
    Size
    2,000 SF
    Rate per SF
    $23
    Space
    Suite 100
    Size
    6,000 SF
    Rate per SF
    $23

    We can help!

    Listing Contact
    Laurie Murphy-Zuiderhof
    Laurie Murphy-Zuiderhof

    Learn more

    Property Insight Report

    HighLights

    • Multi‑tenant building ideal for various business sizes.
    • Suites available from 200 to 4,000 contiguous square feet.
    • Three shared conference rooms available.
    • Shared atrium suitable for tenant events.
    • Abundant parking.
    • Attractive, landscaped setting.
    Property Profile Location Intelligence

    Current Use by Public Records

    FedEx Drop Box Mailing Service

    Suggested Use

    Law Firm Building Supply Dental Office Clothing Store Gym & Fitness Department Store Kitchen & Bath Garden Center Discount Store Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenwood
    County
    Howard
    State
    Maryland
    Longitude
    -77.0290078
    Latitude
    39.2880497

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    Nearby Similar for Lease

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      Glenwood Retail Space Available

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      View Details
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      View Details
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      Versatile Office Spaces Available

      Varied office sizes in tranquil, centrally located building for lease.
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    FAQs

    What type of property is this?
    Office Property / Space - Executive suites, flexible lease terms.
    Where is this office property / space located?
    The property is located at 3060 Route 97 Glenwood, MD.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Multi-tenant building ideal for various business sizes.; Suites available from 200 to 4,000 contiguous square feet.; Three shared conference rooms available.
    Request Owner's contact information
    3060 Route 97 Glenwood, MD 21738
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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
    3060 Route 97 Glenwood, MD 21738
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    We can help!
    Listing Contact
    Laurie Murphy-Zuiderhof
    Laurie Murphy-Zuiderhof
    Real Estate License ID: MD 654631
    Learn more
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