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Property profile & analytics
FOR LEASE
Industrial properties
1393 Progress Way, Eldersburg, MD 21784
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-1187395
For Lease
1 / 2
$3,850,000
1393 Progress Way, Eldersburg, MD 21784
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Property summary
AI-generated overview
This exceptional Eldersburg, Maryland industrial property, located at 1393 Progress Way, zip code 21784, offers 2,500 square feet of immediately available flex/warehouse space within the Eldersburg Business Center 2. The building totals 42,100 square feet and is comprised of two suites. This particular unit boasts impressive ceiling heights ranging from 16 to 28 feet, providing ample vertical space for various business needs. The property features 117 total parking spaces, ensuring convenient access for employees and clients. Power is provided by a 120/208-volt, 3-phase system. The property is zoned IR and situated in the Carroll County Ind submarket of Carroll County. This location provides easy access to major transportation routes, making it an ideal choice for businesses requiring efficient logistics. The property is perfect for a variety of uses, from light manufacturing and distribution to office/warehouse combinations. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL PARK
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
44,000 SF
Lot
4.88 ac (212,573 SF)
Zoning code
I-1
APN
05-066220
UPID
US40-1187395
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Winfield Tile Inc General Contractor Renovation Specialist
-
Joanie Hynes, RE/MAX Advantage Realty Real Estate Agency
-
David Post Realtor Real Estate Agency
-
Pat White - RE/MAX Advantage Realty Real Estate Agency
-
Phyllis Adam, RE/MAX Advantage Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.89M
Comparable Approach
Comparable
$3.63M
Blend (final)
Blend
$3.85M
Owner & transaction history
Merritt Ebc LLC · 4 yrs held
Merritt Ebc LLC
since 2021
1 recorded transaction
Zoning & alternative use
I-1 · Eldersburg, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Eldersburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eldersburg submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,210,000
6.5%
$3,890,000
7%
$3,610,000
Blend value · Realmo final
$3.85M
Range $3.47M – $4.24M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,099
Tax year 2023
Assessed value
$3,371,600
Assessed 2023
Previous assessed
$3,371,600
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,062,800
Assessed improvement
$2,308,800
Land market value
$1,062,800
Improvement market value
$2,308,800
Total market value
$3,371,600
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL PARK
Status
For Lease
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
44,000 SF
Lot
4.88 ac (212,573 SF)
Zoning code
I-1
APN
05-066220
UPID
US40-1187395
Jurisdiction
CARROLL
Zoning & alternative use
I-1 · Eldersburg, MD
Zoning I-1 · permitted uses
I-1 · Eldersburg, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eldersburg. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
4.88 ac
Current owner
From public records · entity-resolved
Merritt Ebc LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2066 LORD BALTIMORE DR, BALTIMORE, MD 21244-2501
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2021
—
Merritt Ebc LLC
Eldersburg Business Center INC
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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