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    1350 Dorsey Rd Hanover, MD 21076

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    1350 Dorsey Rd Hanover, MD 21076

    View on Map
    • Strip malls
    • 20,200 SF
    • 3.30 lot acres
    For Lease
    $2,950,000
    View Listing →
    Commercial Property for Lease For Lease
    $2,950,000

    Commercial Property for Lease

    Commercial property available for lease in Hanover, Maryland.

    1350 Dorsey Road, Hanover, MD 21076
    View Listing
    Property ID
    US40-1254083
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 1350 Dorsey Rd

    Year built
    1988
    Construction
    BRICK
    Lot size
    3.30 lot acres
    Property size
    20,200 SF
    Zone code
    W1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    05-126-90049436
    APU
    512690049436

    Description

    This exceptional commercial property, located at 1350 Dorsey Road in Hanover, Maryland, presents a unique investment opportunity. The property encompasses a total of 10,545 square feet and is classified as retail, land, and restaurant space, suitable for a variety of commercial uses. Currently configured as a single suite, the property offers significant flexibility for multiple tenants. A substantial 5,430 square feet is currently vacant, providing immediate occupancy potential for expansion or new ventures. The property's location in Anne Arundel County, Maryland, zip code 21076, offers excellent visibility and accessibility. The "pad" style configuration allows for convenient access and ample parking. This versatile property is ideal for businesses seeking a prominent location in a thriving commercial area. The existing infrastructure provides a solid foundation for immediate occupancy or extensive renovation to suit specific business needs. With its strategic location and substantial square footage, this property represents a compelling opportunity for growth and profitability. Serious inquiries are encouraged to explore the possibilities this prime retail space offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,700,000
      Current use
      AUTO REPAIR, GARAGE
      $4,660,000
      Change: +26% Conversion: Difficult
      RESTAURANT
      $4,595,000
      Change: +24% Conversion: Difficult
      OFFICE BUILDING
      $4,150,000
      Change: +12% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,075,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.7107
    Latitude
    39.1592
    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
    $35,833
    $858,000
    $2,423,400
    $3,281,400
    -
    $858,000
    $2,423,400
    $3,281,400

    Comparable in this City

    • Value Estimation
      $1,785,000
      10,660 SF

      1741 Dorsey Rd

      SHOPPING CENTER, STRIP CENTER • 10,660 SF
      1741 Dorsey Rd, Hanover, MD 21076-1185
      View Details
    • Value Estimation
      $1,880,000
      11,250 SF

      7698 Dorchester Blvd

      SHOPPING CENTER, STRIP CENTER • 11,250 SF
      7698 Dorchester Blvd, Hanover, MD 21076-1946
      View Details
    • Value Estimation
      $920,000
      5,822 SF

      7581 Buckingham Blvd

      SHOPPING CENTER, STRIP CENTER • 5,822 SF
      7581 Buckingham Blvd, Hanover, MD 21076-3218
      View Details
    • Value Estimation
      $1,880,000
      11,250 SF

      7690 Dorchester Blvd

      SHOPPING CENTER, STRIP CENTER • 11,250 SF
      7690 Dorchester Blvd, Hanover, MD 21076-1926
      View Details
    • Value Estimation
      $1,810,000
      11,925 SF

      7304 Pkwy Dr

      SHOPPING CENTER, STRIP CENTER • 11,925 SF
      7304 Pkwy Dr, Hanover, MD 21076-1167
      View Details
    • Value Estimation
      $2,725,000
      16,560 SF

      7651 Arundel Mls Blvd

      SHOPPING CENTER, STRIP CENTER • 16,560 SF
      7651 Arundel Mls Blvd, Hanover, MD 21076-2036
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Redevelopment site near Rt. 100 and BWI Airport.
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      Candlewood Road Specialty Property

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      Hanover Industrial Land Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,020 SF

      Arundel Mills Retail Space Available

      Retail spaces for lease in Arundel Mills Corporate Park.
      7550 Teague Rd, Hanover, MD 21076
      View Details
    • Contact for pricing

      New Development on Dorsey Road

      New commercial development with pad sites available for lease.
      1738-1758 Dorsey Rd, Hanover, MD 21076
      View Details
    • $18 SF/Yr
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      Hanover MD Warehouse Space

      10,000 SF Warehouse, Flexible Lease
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    • $17 SF/Yr

      Turnkey Flex Space Sublease

      5,000 SF flex space near BWI Airport.
      941 Mercantile Dr, Hanover, MD 21076
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      20,147 SF

      Conveniently Located Commercial Property

      Commercial property with immediate access to major transportation routes.
      7447 New Ridge Rd, Hanover, MD 21076
      View Details
    • Contact for pricing
      48,214 SF

      Flex Space Near BWI Airport

      Flex space in Techwood Business Park, convenient location.
      1342 Charwood Rd, Hanover, MD 21076
      View Details
    View Listing
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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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