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    1501 62nd St Baltimore, MD 21237-1292
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    1501 62nd St Baltimore, MD 21237-1292

    View on Map
    • Grocery and convenience stores
    • 5,125 SF
    • 1.62 lot acres
    Off-Market
    Property ID
    US40-0980145
    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
    $1,230,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Royal Farms / Grocery & Convenience Store
    • Coin Cloud Bitcoin ATM / Crypto Atm / Currency Exchange Service
    • Car Wash / Car Wash
    • First National Bank ATM / Atm

    Property Details for 1501 62nd St

    Year built
    2012
    Lot size
    1.62 lot acres
    Property size
    5,125 SF
    Zone code
    C-3
    Property type
    Grocery and convenience stores
    APN
    26-20-6220 -033
    APU
    26206220033

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,380,000
      6.5%
      $1,275,000
      7%
      $1,185,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,102,000
      Market price range: $555k - $1.25M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $940,000
      Current use
      AUTO REPAIR, GARAGE
      $1,180,000
      Change: +26% Conversion: Difficult
      RESTAURANT
      $1,165,000
      Change: +24% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,125,000
      Change: +20% Conversion: Easy
      OFFICE BUILDING
      $1,000,000
      Change: +6% Conversion: Moderate
      WAREHOUSE, STORAGE
      $780,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.5303
    Latitude
    39.3106
    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
    $55,229
    $1,268,600
    $1,071,600
    $2,340,200
    -
    $1,268,600
    $1,071,600
    $2,340,200

    Comparable in this City

    • Value Estimation
      $4,760,000
      40,970 SF

      Harford Rd

      GROCERY, SUPERMARKET • 40,970 SF
      Harford Rd, Rosedale, MD 21237
      View Details
    • Value Estimation
      $910,000
      3,365 SF

      7500 Pulaski Hwy

      CONVENIENCE STORE • 3,365 SF
      7500 Pulaski Hwy, Baltimore, MD 21237-2532
      View Details
    • Value Estimation
      $1,435,000
      10,175 SF

      6402 Golden Ring Rd

      CONVENIENCE STORE • 10,175 SF
      6402 Golden Ring Rd, Rosedale, MD 21237-2010
      View Details
    • Value Estimation by Request
      1,530 SF

      8350 Pulaski Hwy

      CONVENIENCE STORE • 1,530 SF
      8350 Pulaski Hwy, Baltimore, MD 21237-2942
      View Details
    • Value Estimation by Request
      2,980 SF

      6326 Kenwood Ave

      CONVENIENCE STORE • 2,980 SF
      6326 Kenwood Ave, Baltimore, MD 21237-2023
      View Details
    • Value Estimation
      $1,355,000
      5,780 SF

      8731 Pulaski Hwy

      CONVENIENCE STORE • 5,780 SF
      8731 Pulaski Hwy, Baltimore, MD 21237-3009
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,006 SF

      Jiffy Lube Investment Opportunity

      Jiffy Lube in Rosedale, MD, Baltimore MSA for sale.
      6319 Kenwood Ave, Rosedale, MD 21237
      View Details
    • Contact for pricing
      0.50 Acres

      Modern Rosedale Office Suite for Lease

      Newly renovated office, shared event space available.
      8330 Pulaski Hwy Unit, Rosedale, MD 21237
      View Details
    • $52,000
      1.13 Acres

      Secluded Rosedale Land Opportunity

      1.13 acres of secluded land in Rosedale, Maryland.
      Sumter Ave, Rosedale, MD 21237
      View Details
    • $120,000
      1.03 Acres

      Land Available in Rosedale, MD

      Land for sale in Rosedale, Maryland, totaling 1.03 acres.
      Sumter Ave Lot, Rosedale, MD 21237
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,376 SF

      Retail Space on Pulaski Highway

      Retail space available in multi-tenant building on Pulaski Highway.
      8300-8302 Pulaski Hwy, Baltimore, MD 21237
      View Details
    • Contact for pricing

      Golden Ring Plaza Retail Space

      Grocery-anchored shopping center in Rosedale, Maryland, for lease.
      8665 Philadelphia Rd, Rosedale, MD 21237
      View Details
    • Contact for pricing

      Retail/Restaurant Space for Lease

      Retail or restaurant space available for lease.
      8649 Philadelphia Rd, Baltimore, MD 21237
      View Details
    • $11 SF/Yr
      59,398 SF

      Retail Space Available For Lease

      Retail property available for lease in Baltimore, Maryland.
      Race Rd, Baltimore, MD 21237
      View Details
    • Contact for pricing
      19,782 SF

      Baltimore County Shopping Center Space

      Grocery-anchored shopping center with storage/flex space for rent.
      1709-1763 Chesaco Ave, Rosedale, MD 21237
      View Details
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    1501 62nd St
    Baltimore, MD 21237-1292
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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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