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

    1515 Churchville Rd Bel Air, MD 21014-4742

    • Grocery and convenience stores
    • 4,687 SF
    • 1.59 lot acres
    OFF-MARKET
    Value Estimations
    $1,730,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-1411696
    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

    • Wawa / Gas Station
    • Amazon Locker - Boh / Courier Service / Postal Service

    Property Details for 1515 Churchville Rd

    Year built
    2001
    Construction
    BRICK
    Lot size
    1.59 lot acres
    Property size
    4,687 SF
    Zone code
    B2
    Property type
    Grocery and convenience stores
    APN
    03-346978
    APU
    3346978

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bel Air
    County
    Harford
    State
    Maryland
    Longitude
    -76.3139
    Latitude
    39.5462
    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
    $23,152
    $0.00
    $0.00
    $2,157,400
    -
    $1,377,000
    $846,800
    $2,223,800

    Comparable in this City

    • Value Estimation
      $1,870,000
      4,687 SF

      709 Baltimore Pike

      CONVENIENCE STORE • 4,687 SF
      709 Baltimore Pike, Bel Air, MD 21014-4209
      View Details
    • Value Estimation
      $1,255,000
      2,280 SF

      1520 Conowingo Rd

      CONVENIENCE STORE • 2,280 SF
      1520 Conowingo Rd, Bel Air, MD 21014-1812
      View Details
    • Value Estimation
      $4,915,000
      40,235 SF

      223 Main St

      GROCERY, SUPERMARKET • 40,235 SF
      223 Main St, Bel Air, MD 21014-3501
      View Details
    • Value Estimation
      $540,000
      3,681 SF

      2111 Conowingo Rd

      CONVENIENCE STORE • 3,681 SF
      2111 Conowingo Rd, Bel Air, MD 21014-1823
      View Details
    • Value Estimation
      $655,000
      792 SF

      144 Bond St

      CONVENIENCE STORE • 792 SF
      144 Bond St, Bel Air, MD 21014-3696
      View Details
    • Value Estimation
      $9,765,000
      32,960 SF

      640 Marketplace Dr

      GROCERY, SUPERMARKET • 32,960 SF
      640 Marketplace Dr, Bel Air, MD 21014-4338
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,828 SF

      Retail Space in Bel Air

      Retail space for sale in Bel Air, Maryland.
      1215 Baltimore Pike, Bel Air, MD 21014
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    • $189,900
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      Updated Condo with Private Balcony

      Updated 2-bedroom condo with modern kitchen and community amenities.
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      Corner Lot on Route 23

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    • $750,000

      Corner Lot on Route 23

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      1700 Conowingo Rd, Bel Air, MD 21014
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      Bel Air Specialty Property

      Specialty property available for sale in Bel Air, Maryland.
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      Ground-Level Condo with Porch

      First-floor condo with screened porch, near MA & PA Trail.
      608 Churchill Rd Rd, Bel Air, MD 21014
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    Similar Nearby for Lease

    • Contact for pricing
      14,031 SF

      Bel Air Retail Space Available

      Grocery-anchored regional power center in Bel Air's commercial district.
      615 Bel Air Rd, Bel Air, MD 21014
      View Details
    • $21 SF/Yr
      8,600 SF

      Bel Air Retail Space Available

      Former Walgreens with drive-thru in the heart of Bel Air.
      585 Marketplace Dr, Bel Air, MD 21014
      View Details
    • $22 SF/Yr
      4,600 SF

      Retail Space on Baltimore Pike

      Retail space available for lease on Baltimore Pike.
      401 Baltimore Pike, Bel Air, MD 21014
      View Details
    • $25 SF/Yr
      34,800 SF

      Retail Space at Campus Commons

      Retail spaces available with drive-thru option near Harford College.
      2211 E Churchville Rd, Bel Air, MD 21014
      View Details
    • Contact for pricing
      3,829 SF

      Retail Suites on Baltimore Pike

      Inline retail suites available in a high-traffic shopping center.
      331 Baltimore Pike, Bel Air, MD 21014
      View Details
    • $18 SF/Yr
      1,800 SF

      Downtown Bel Air Retail/Office

      Street-level retail/office space in the heart of Downtown Bel Air.
      10 S Main St, Bel Air, MD 21014
      View Details
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    1515 Churchville Rd
    Bel Air, MD 21014-4742
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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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