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    3060 Washington Rd Glenwood, MD 21738
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    3060 Washington Rd Glenwood, MD 21738

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    • Office Spaces
    • 15,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 3060 Washington Rd

    Property size
    15,000 SF
    Property type
    Office Spaces

    Description

    Glenwood Office Park, located at 3060 Washington Rd (Rt 97) in Glenwood, Maryland, 21738, offers exceptional office space in Howard County. This traditional office park provides flexible options for businesses of all sizes. The entire 15,000 square foot building is currently available, offering a unique opportunity for a single tenant to occupy the entire space. Alternatively, the property is divisible down to a minimum of 150 square feet, catering to smaller businesses seeking a professional workspace. The maximum contiguous space available is 15,000 square feet. This versatile property is ideal for companies seeking a prominent location in a thriving area. Its convenient location on Washington Road (Route 97) ensures excellent accessibility and visibility. The property is managed by Sunshine Management Corporation. The property type is classified as both Traditional and Executive Office space, offering a range of amenities and finishes to suit diverse business needs. This presents a rare chance to secure a well-maintained office space in a desirable Howard County location. Contact us today to learn more about leasing opportunities at Glenwood Office Park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Glenwood
    County
    Howard
    State
    Maryland
    Longitude
    -77.0304
    Latitude
    39.2827

    Comparable in this City

    • Value Estimation
      $2,835,000
      43,680 SF

      3060 Rte 97

      OFFICE BUILDING • 43,680 SF
      3060 Rte 97, Glenwood, MD 21738-9733
      View Details
    • Value Estimation by Request
      16.63 Acres

      Sycamore Vly Run

      COUNTRY CLUB • 16.63 Acres
      Sycamore Vly Run, Glenwood, MD 21738
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    • Value Estimation by Request
      20,000 SF

      2400 Rte 97

      MINI-MALL • 20,000 SF
      2400 Rte 97, Glenwood, MD 21738
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    • Value Estimation by Request
      6.23 Acres

      Sycamore Vly Run

      COUNTRY CLUB • 6.23 Acres
      Sycamore Vly Run, Glenwood, MD 21738
      View Details
    • Value Estimation by Request
      21.61 Acres

      Dorsey Ml Rd

      COUNTRY CLUB • 21.61 Acres
      Dorsey Ml Rd, Glenwood, MD 21738
      View Details
    • Value Estimation by Request
      18.24 Acres

      Willow Birch Dr

      COUNTRY CLUB • 18.24 Acres
      Willow Birch Dr, Glenwood, MD 21738
      View Details

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    • $162,500

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      Three acre land parcel available for purchase.
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      Land with well, suitable for sports courts or solar farm.
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    Similar Nearby for Lease

    • Contact for pricing

      Flexible Office Space For Lease

      Office suites available in Western Howard County, Maryland.
      3060 Route 97, Glenwood, MD 21738
      View Details
    • $20 SF/Yr
      4,000 SF

      Versatile Office Spaces Available

      Varied office sizes in tranquil, centrally located building for lease.
      3060 Rt 97, Glenwood, MD 21738
      View Details
    • $24 SF/Yr
      3,530 SF

      Glenwood Retail Space Available

      Former Dollar Store space on well-traveled Route 97.
      2490 Route 97, Glenwood, MD 21738
      View Details
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    3060 Washington Rd
    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.

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