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

    10715 Red Run Blvd Owings Mills, MD 21117

    • Office buildings
    • 116,416 SF
    • 16.23 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1301750
    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

    • Office buildings

    Property Details for 10715 Red Run Blvd

    Year built
    2000
    Construction
    BRICK
    Lot size
    16.23 lot acres
    Property size
    116,416 SF
    Zone code
    ML
    Property type
    Office buildings
    APN
    04-2300007696
    APU
    42300007696

    Description

    This exceptional flex/warehouse space, located within the highly sought-after Red Run Business Park in Owings Mills, Maryland, offers 2,010 square feet of immediately available space. Situated at 10715 Red Run Boulevard, zip code 21117, this property boasts a prime location within the Reisterstown Rd Ind submarket of Baltimore County. The building itself comprises a total of 113,170 square feet, offering ample room for expansion should your business needs grow. The unit features a generous 20-foot ceiling height, providing excellent vertical storage capacity. Loading and unloading are facilitated by two conveniently located loading docks. Ample parking is available for employees and visitors, with a total of 657 parking spaces throughout the complex. The property is zoned ML-IM and benefits from robust 277/480 volt electrical service. This multi-tenant building presents a fantastic opportunity for businesses seeking a functional and well-located industrial space in a thriving Maryland community. The property is ready for immediate occupancy. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $23,851,000
      Market price range: $18.0M - $41.0M
      AI Estimate
      $13,091,000
      Market price range: $4.11M - $29.0M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $27,620,000
      Current use
      WAREHOUSE, STORAGE
      $30,095,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $26,465,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $24,815,000
      Change: -10% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Owings Mills
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.8034
    Latitude
    39.4162
    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
    2023
    $177,533
    $0.00
    $0.00
    $14,058,067
    -
    $1,624,500
    $14,828,300
    $16,452,800

    Comparable in this City

    • Value Estimation
      $870,000
      2,900 SF

      11002 Owings Mls Blvd

      OFFICE BUILDING • 2,900 SF
      11002 Owings Mls Blvd, Owings Mills, MD 21117-2875
      View Details
    • Value Estimation
      $4,625,000
      31,700 SF

      10324 Dolfield Rd

      OFFICE BUILDING • 31,700 SF
      10324 Dolfield Rd, Owings Mills, MD 21117-3991
      View Details
    • Value Estimation
      $8,015,000
      38,000 SF

      9 Park Ctr Ct

      OFFICE BUILDING • 38,000 SF
      9 Park Ctr Ct, Owings Mills, MD 21117-5623
      View Details
    • Value Estimation
      $5,495,000
      32,460 SF

      11301 Red Run Blvd

      OFFICE BUILDING • 32,460 SF
      11301 Red Run Blvd, Owings Mills, MD 21117-3246
      View Details
    • Value Estimation
      $650,000
      2,293 SF

      10 Ritters Ln

      OFFICE BUILDING • 2,293 SF
      10 Ritters Ln, Owings Mills, MD 21117-3327
      View Details
    • Value Estimation
      $770,000
      2,564 SF

      Walnut Ave

      OFFICE BUILDING • 2,564 SF
      Walnut Ave, Owings Mills, MD 21117
      View Details

    Similar Nearby for Sale

    • $239,900
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      Owings Mills Professional Office Condo

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      Owings Mills Office Space Available

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      Specialty Property in Owings Mills

      Specialty property available for sale in Owings Mills, Maryland.
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      Owings Mills Specialty Property

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      Specialty Property in Owings Mills

      Specialty property available for sale in Owings Mills, Maryland.
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    Similar Nearby for Lease

    • Contact for pricing
      31,753 SF

      Owings Mills Office Space Available

      Office space for rent in a well-located business park.
      10800 Red Run Blvd, Owings Mills, MD 21117
      View Details
    • $4,200 /Mo
      34,412 SF

      Renovated Historic Office Building Lease

      Renovated historic office building with private parking in Owings Mills.
      9416 - A - James Macgowan Ln, Owings Mills, MD 21117
      View Details
    • Contact for pricing
      1,460 SF

      Mixed-Use Building with Retail Space

      Four-story Class A building with office and retail space.
      10200 Grand Central Ave, Owings Mills, MD 21117
      View Details
    • Contact for pricing
      2,076 SF

      Owings Mills Office Space Available

      Two-story office building with modern amenities in Owings Mills.
      10065 Red Run Blvd, Owings Mills, MD 21117
      View Details
    • $3,000 /Mo

      Renovated Office Building For Rent

      Renovated office building in Owings Mills, close to Metro.
      10910 Reisterstown Rd, Owings Mills, MD 21117
      View Details
    • $23 SF/Yr
      178,000 SF

      Class A Office Building

      Class A office space with amenities and highway access.
      10461 Mill Run Cir, Owings Mills, MD 21117
      View Details
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    Owings Mills, MD 21117
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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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