Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    657-699 Old Mill Rd Millersville, MD 21108

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    657-699 Old Mill Rd Millersville, MD 21108

    View on Map
    • Retail properties & Spaces
    • 13,190 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 657-699 Old Mill Rd

    Property size
    13,190 SF
    Property type
    Retail properties & Spaces

    Description

    Old Mill Plaza, located at 657-699 Old Mill Road in Millersville, Maryland, 21108, presents a compelling retail investment opportunity in Anne Arundel County. This multi-tenant commercial property boasts a total of 13,190 square feet, with 6,890 square feet currently available for lease. The space is divisible, offering flexible options ranging from a minimum of 1,265 square feet to a maximum contiguous space of 2,800 square feet, catering to a variety of business needs. The property's strategic location in Millersville provides excellent visibility and accessibility for potential tenants. The address is easily identifiable and convenient for customers. This is an ideal location for businesses seeking high foot traffic and a strong presence within a thriving community. The available space offers a blank canvas for businesses to establish their presence and contribute to the vibrant commercial landscape of Old Mill Plaza. The property is classified as retail commercial space and is ready for immediate occupancy. Interested parties are encouraged to inquire about lease terms and availability. The property is situated at 39.1173676 latitude and -76.6315917 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Millersville
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6316
    Latitude
    39.1174

    Comparable in this City

    • Value Estimation by Request

      670 Old Mill Rd

      Lifestyle centers
      670 Old Mill Rd, Millersville, MD 21108
      View Details
    • Value Estimation by Request
      188 SF

      1 Spc 211-21

      RESIDENTIAL PARKING GARAGE • 188 SF
      1 Spc 211-21, Millersville, MD 21108
      View Details
    • Value Estimation by Request
      188 SF

      1 Spc 481-48

      RESIDENTIAL PARKING GARAGE • 188 SF
      1 Spc 481-48, Millersville, MD 21108
      View Details
    • Value Estimation by Request
      188 SF

      53 Bld 1st Spc 1-52

      RESIDENTIAL PARKING GARAGE • 188 SF
      53 Bld 1st Spc 1-52, Millersville, MD 21108
      View Details
    • Value Estimation by Request
      188 SF

      1 Spc 8th 81-8

      RESIDENTIAL PARKING GARAGE • 188 SF
      1 Spc 8th 81-8, Millersville, MD 21108
      View Details
    • Value Estimation by Request
      188 SF

      1 Spc 421-42

      RESIDENTIAL PARKING GARAGE • 188 SF
      1 Spc 421-42, Millersville, MD 21108
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      3.1 Acre Development Opportunity

      3.1 acre commercial land for sale.
      8450 Elvaton Rd, Millersville, MD 21108
      View Details
    • Contact for pricing
      2.65 Acres

      Millersville Commercial Land - High Traffic

      Prime 2.65-acre C-4 zoned lot, high visibility, Rt. 3 access.
      607 Crain Hwy, Millersville, MD 21108
      View Details
    • $550,000

      Commercial Property on Veterans Highway

      Prime commercial property for sale in Millersville, Maryland.
      8646 Veterans Hwy, Millersville, MD 21108
      View Details
    • Contact for pricing

      Prime Land at Signalized Intersection

      7+ acres for retail/office/restaurant center development.
      1699 Millersville Rd, Millersville, MD 21108
      View Details
    • $155,000
      0.46 Acres

      Prime Commercial Space in Millersville

      Approximately 0.46 acre commercial land in a thriving business district.
      2664 Carver Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      Land at Elvaton & Jumpers

      Land with development opportunities at a key intersection.
      8450 Elvaton Rd, Millersville, MD 21108
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      7 Acres Land For Lease

      7 acres of land available for lease in Millersville, MD.
      1699 Millersville Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      Prime Car Wash Opportunity

      Car wash location in the heart of Anne Arundel County.
      8205 Veterans Hwy, Millersville, MD 21108
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Millersville, Maryland.
      657-699 Old Mill Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      Modern Office Space in Millersville

      Professional office setting with convenient access to major highways.
      8638 Veterans Hwy, Millersville, MD 21108
      View Details
    • Contact for pricing
      9,600 SF

      Millersville Office and Flex Space

      Office and flex space in convenient business park location.
      255 Najoles Rd, Millersville, MD 21108
      View Details
    • Contact for pricing

      Industrial Site Ready for Construction

      Industrial site for warehouse construction with highway visibility and accessibility.
      8358 Veterans Hwy, Millersville, MD 21108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    657-699 Old Mill Rd
    Millersville, MD 21108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!