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    3637-3695 Offutt Rd Randallstown, MD 21133

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    3637-3695 Offutt Rd Randallstown, MD 21133

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    • Neighborhood centers
    • 113,516 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 3637-3695 Offutt Rd

    Year built
    1972
    Property size
    113,516 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Located in Randallstown, Maryland, Randallstown Plaza offers 113,516 square feet of retail and creative office space. This multi-tenant property, situated on a 15-acre lot at 3637-3695 Offutt Rd, zip code 21133, presents a unique investment opportunity. Built in 1972, the property currently has 30,420 square feet of vacant space available, divisible into units ranging from 1,950 to a maximum contiguous 16,000 square feet. The flexible space is ideal for a variety of businesses, including restaurants and retail operations. The property's location in Baltimore County offers convenient access to major transportation routes and a thriving community. This is a chance to acquire a substantial commercial property with significant potential for growth and development. Six individual spaces are currently available for lease. The property is classified as a strip center and creative office space. Interested parties should inquire about available space and lease terms. The property's address is 3637-3695 Offutt Rd, Randallstown, MD 21133.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Randallstown
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.7975
    Latitude
    39.37

    Comparable in this City

    • Value Estimation by Request
      113,516 SF

      3653 Offutt Rd

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    • Value Estimation
      $670,000
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      9860 Liberty Rd

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      $550,000
      14,500 SF

      9818 Liberty Rd

      SHOPPING CENTER, STRIP CENTER • 14,500 SF
      9818 Liberty Rd, Randallstown, MD 21133-2038
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    • Value Estimation
      $3,020,000
      36,900 SF

      8727 Liberty Rd

      SHOPPING CENTER, STRIP CENTER • 36,900 SF
      8727 Liberty Rd, Randallstown, MD 21133
      View Details
    • Value Estimation
      $820,000
      20,240 SF

      9828 Liberty Rd

      SHOPPING CENTER, STRIP CENTER • 20,240 SF
      9828 Liberty Rd, Randallstown, MD 21133-2007
      View Details
    • Value Estimation
      $1,330,000
      16,008 SF

      Tolworth Cir

      SHOPPING CENTER, STRIP CENTER • 16,008 SF
      Tolworth Cir, Randallstown, MD 21133
      View Details

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      Randallstown Retail, Restaurant, Office Spaces

      Retail, restaurant, and office spaces available in Randallstown, MD.
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      Randallstown Retail Space Available

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    Randallstown, MD 21133
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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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