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    Hanover Rd Hanover, MD 21076
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    Hanover Rd Hanover, MD 21076

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    • Warehouses
    • 5.99 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 0 Hanover Rd

    Lot size
    5.99 lot acres
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 5.99-acre industrial property, located on Hanover Rd in Hanover, Maryland (zip code 21076), presents a rare investment opportunity. The property boasts a desirable location in Howard County, offering convenient access to major transportation routes. Currently zoned as Open Space (OS) and partially W-1, this land presents significant development potential. The tax ID is 05-90011766, and the ownership is fee simple. A key advantage is the proposed new interchange at Hanover Rd and B/W Parkway, promising enhanced accessibility and future value appreciation. The W-1 zoning designation is particularly hard to find, making this a truly unique offering for developers and investors seeking a strategic foothold in a rapidly growing area. The property's size and zoning flexibility allow for a wide range of development possibilities, making it an attractive prospect for various industrial uses. Serious inquiries are encouraged to explore this exceptional opportunity further. The asking price is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Howard
    State
    Maryland
    Longitude
    -76.7209
    Latitude
    39.1976

    Comparable in this City

    • Value Estimation
      $4,520,000
      50,690 SF

      7451 Coca Cola Dr, Unit 3

      DISTRIBUTION WAREHOUSE • 50,690 SF
      7451 Coca Cola Dr, Hanover, MD 21076-2285
      View Details
    • Value Estimation
      $10,960,000
      182,160 SF

      7465 Candlewood Rd

      DISTRIBUTION WAREHOUSE • 182,160 SF
      7465 Candlewood Rd, Hanover, MD 21076-3183
      View Details
    • Value Estimation
      $4,800,000
      31,900 SF

      7461 Coca Cola Dr

      DISTRIBUTION WAREHOUSE • 31,900 SF
      7461 Coca Cola Dr, Hanover, MD 21076-1490
      View Details
    • Value Estimation
      $2,950,000
      13,800 SF

      7260 Pkwy Dr

      DISTRIBUTION WAREHOUSE • 13,800 SF
      7260 Pkwy Dr, Hanover, MD 21076-1307
      View Details
    • Value Estimation by Request
      1,219 SF

      1065 Dorsey Rd

      DISTRIBUTION WAREHOUSE • 1,219 SF
      1065 Dorsey Rd, Hanover, MD 21076-1526
      View Details
    • Value Estimation
      $3,065,000
      31,680 SF

      7155 Hanover Park Dr

      DISTRIBUTION WAREHOUSE • 31,680 SF
      7155 Hanover Park Dr, Hanover, MD 21076-1966
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,090 SF

      15,090 SF Industrial Building For Sale

      Free-standing industrial building with secured yard and high power capacity.
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    • Contact for pricing
      253,330 SF

      Industrial Property in Hanover, MD

      253,330 SF industrial property available for sale.
      7441 Candlewood Rd, Hanover, MD 21076
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    • $1,190,224
      Pending

      Hanover Land Parcel for Sale

      Land parcel in Hanover, MD, rezoned to R-15.
      265 Wright Rd, Hanover, MD 21076
      View Details
    • $900,000
      4.64 Acres

      Residential Land in Hanover, MD

      4.6-acre property near Arundel Mills, ready for development.
      Ridge Rd, Hanover, MD 21076
      View Details
    • $950,254
      Pending

      Hanover Land Parcel for Sale

      1.44 acre land parcel in Hanover, MD, rezoned R-15.
      260-7131 Wright Rd, Hanover, MD 21076
      View Details

    Similar Nearby for Lease

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      10,000 SF

      Hanover MD Warehouse Space

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    • Contact for pricing
      20,147 SF

      71,994 SF Logistics Facility

      Logistics facility near Baltimore/Washington Airport with access to I-295.
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      30,000 SF

      Warehouse Near BWI Airport

      117,500 SF logistics facility near Baltimore/Washington Airport.
      7460 New Ridge Rd, Hanover, MD 21076
      View Details
    • Contact for pricing
      45,000 SF

      Warehouse Near BWI Airport

      Industrial warehouse space near BWI Airport and major transportation routes.
      7465 Candlewood Rd, Hanover, MD 21076
      View Details
    • Contact for pricing
      50,000 SF

      Industrial Space Near I-95

      50,000 SF industrial space with immediate highway access.
      7351 Coca Cola Dr, Hanover, MD 21076
      View Details
    • Contact for pricing
      112,500 SF

      Warehouse Space Near BWI Airport

      Industrial warehouse space with excellent access to major transportation routes.
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    Hanover, MD 21076
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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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    Hanover Rd, Hanover, MD, 21076
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