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    2509 Evergreen Rd Gambrills, MD 21054
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    2509 Evergreen Rd Gambrills, MD 21054

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    • Office Spaces
    • 6,485 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 2509 Evergreen Rd

    Property size
    6,485 SF
    Property type
    Office Spaces

    Description

    This exceptional 6,485 square foot Class A freestanding office building presents a unique opportunity for sale or lease in the thriving Waugh Chapel Town Center of Gambrills, Maryland. Ideally situated at the intersection of MD Route 3, this highly visible property boasts over 77,000 cars passing daily, ensuring maximum exposure for your business. The building is proposed as a new construction and offers versatile space suitable for a variety of uses, including medical, office, or retail. Its prime location within the bustling Waugh Chapel Town Center places it in close proximity to major anchors such as Wegmans, Target, Regal Cinemas, and Dick's Sporting Goods, attracting over 6 million visitors annually. The immediate vicinity also includes a 72-room hotel, Outback Steakhouse, Mission BBQ, and an 80-unit assisted living facility, creating a vibrant and densely populated area. This high-income, rapidly growing market offers significant potential for long-term success. The property's strategic placement and surrounding amenities make it an unparalleled opportunity for businesses seeking a prominent and accessible location in Anne Arundel County, Maryland, zip code 21054. The building's size and design offer flexibility to accommodate a variety of business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Gambrills
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6873
    Latitude
    39.0307

    Comparable in this City

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      1119 State Rte 3rd Nh

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      1119 L N Crain N Hwy, Unit 213

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    • Value Estimation
      $8,630,000
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      1119 M N Crain N Hwy, Unit 214

      CONDOMINIUM OFFICES • 1,177 SF
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    • Value Estimation
      $8,775,000
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      1123 State Rte 3rd N, Unit 102

      CONDOMINIUM OFFICES • 1,252 SF
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    Similar Nearby for Sale

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      Waugh Chapel Town Centre Office

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    • $32 SF/Yr
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      Modern Office/Medical Space Available

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      Freestanding Retail or Office Space

      Proposed 6485 sq ft space available for sale or lease.
      2511 Evergreen Rd, Gambrills, MD 21054
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      2,214 SF

      Waugh Chapel Town Center Office

      Office/Medical space in Waugh Chapel Town Center.
      2410 Evergreen Rd, Gambrills, MD 21054
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      Modern Office Space For Rent

      Class A office space available in Waugh Chapel Town Center.
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    Gambrills, MD 21054
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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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