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    Property profile & analytics

    509 Bynum Rd Forest Hill, MD 21050

    • Commercial real estate
    • 24,219 SF
    • 2.05 lot acres
    For Sale
    View listing
    $875,000
    Value Estimation
    Location Intelligence
    Property ID
    US40-2073546
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 509 Bynum Rd

    Year built
    1971
    Construction
    BRICK
    Lot size
    2.05 lot acres
    Property size
    24,219 SF
    Zone code
    B3
    Property type
    Commercial real estate
    APN
    03-035026
    APU
    3035026

    Description

    This exceptional 2.3-acre commercial land parcel, located at 509-517 Bynum Road in Forest Hill, Maryland, presents a unique investment opportunity. Zoned B3, the property boasts full site approvals, including stormwater management (SWM) and off-site improvements, allowing for an immediate start on construction. A grading permit is readily available. The site is approved for a 12,000 square foot retail building, with potential for outdoor seating, catering to the high-end residential neighborhood nearby. Utilities are conveniently located on-site. This prime location offers excellent visibility and accessibility, situated on Route 1 with a daily traffic count of 40,000 vehicles. The asking price is $875,000, reflecting a land value of $650,000 per acre. The property features public water and sewer services. Building square footage can range from 2,400 to 6,400 square feet, depending on the developer's plans. A ground lease option is available. This is a turnkey opportunity for immediate development, poised for success in a thriving market. The zip code is 21050, and the property is in Harford County.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $425,000

    • CAP approach

      CAP return
      Estimation
      6%
      $460,000
      6.5%
      $400,000
      7%
      $440,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $405,000
      Geo Method
      $445,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $485,000
      Retail
      $485,000
      Mixed-Use
      $485,000
      Hospitality
      $420,000
      Educational
      $415,000
      Residential Income
      $395,000
      Energy
      $390,000
      Income-Based Land
      $400,000
      Food Service
      $365,000

    Location Insight

    • Map
    • Local Demand
    City
    Forest Hill
    County
    Harford
    State
    Maryland
    Longitude
    -76.3554
    Latitude
    39.5664
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,144
    $472,000
    $0.00
    $472,000
    -
    $472,000
    $0.00
    $472,000

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    509 Bynum Rd
    Forest Hill, MD 21050
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    Realmo Value Estimation

    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.

    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.

    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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