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    Property profile & analytics

    1655 Crofton Blvd Crofton, MD 21114

    • Office buildings
    • 15,370 SF
    • 2.09 lot acres
    For Lease
    View listing
    $26 SF/Yr
    Last Sale
    Mar 30, 2020
    $2,350,000
    Value Estimations
    $2,945,000
    Cap Rate Potential
    3.9%
    Office buildings
    Location Intelligence
    Property ID
    US40-0903713
    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

    • Yodit Tsegaye / Pediatrician / Health Care Facility
    • Byrne Doreen A / Rheumatologist
    • Sharon Richter / Pediatrician / Practitioner Service Location
    • Piyumi Fonseka / Practitioner Service Location / Medical Clinic
    • 1st Choice Real Estate Academy / Real Estate School

    Property Details for 1655 Crofton Blvd

    Year built
    1987
    Construction
    BRICK
    Lot size
    2.09 lot acres
    Property size
    15,370 SF
    Zone code
    C2
    Property type
    Office buildings
    APN
    02-206-90023257
    APU
    220690023257

    Description

    This exceptional office property at 1655 Crofton Blvd in Crofton, Maryland, offers a variety of flexible spaces ideal for businesses of all sizes. Located in the I-97/Crain Highway Corridor within Anne Arundel County, this 30,000 square foot building boasts a convenient location and ample parking. The property, built in 1986 and zoned C2, sits on a 2.09-acre lot. Multiple tenancy options are available, with spaces ranging from a minimum of 1,037 square feet to a maximum contiguous space of 7,345 square feet. Currently, 11,397 square feet is vacant and ready for immediate occupancy. First-floor units offer up to 3,100 square feet at a rate of $30 per square foot (NNN), while second-floor units offer similar space at $26.50 per square foot (full service). The entire building is also available for purchase for $7,500,000. This presents a unique opportunity to establish a presence in a thriving business community with excellent accessibility and visibility. Don't miss this chance to secure your ideal office space in this highly sought-after location. Contact us today to schedule a viewing and discuss your specific needs. The zip code is 21114.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,930,000
      ML approach
      $2,950,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,915,000
      6.5%
      $1,770,000
      7%
      $1,640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,402,000
      Market price range: $2.64M - $4.72M

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

    Location Insight

    • Map
    • Local Demand
    City
    Crofton
    County
    Anne Arundel
    State
    Maryland
    Longitude
    -76.6974
    Latitude
    39.0166
    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
    $33,611
    $1,358,500
    $1,719,400
    $3,077,900
    -
    $1,358,500
    $1,719,400
    $3,077,900

    Comparable in this City

    • Value Estimation
      $860,000
      2,040 SF

      1680 Vlg Grn

      OFFICE BUILDING • 2,040 SF
      1680 Vlg Grn, Crofton, MD 21114-2052
      View Details
    • Value Estimation
      $305,000
      932 SF

      1654 Electric Ave

      OFFICE BUILDING • 932 SF
      1654 Electric Ave, Crofton, MD 21114-2407
      View Details
    • Value Estimation
      $335,000
      1,447 SF

      1674 Vlg Grn

      OFFICE BUILDING • 1,447 SF
      1674 Vlg Grn, Crofton, MD 21114
      View Details
    • Value Estimation
      $995,000
      3,000 SF

      1288 Cronson Blvd

      OFFICE BUILDING • 3,000 SF
      1288 Cronson Blvd, Crofton, MD 21114
      View Details
    • Value Estimation
      $480,000
      10,060 SF

      2135 Espey Ct

      OFFICE BUILDING • 10,060 SF
      2135 Espey Ct, Crofton, MD 21114-2442
      View Details
    • Value Estimation
      $485,000
      15,700 SF

      2110 Priest Brg Dr

      OFFICE BUILDING • 15,700 SF
      2110 Priest Brg Dr, Crofton, MD 21114-2472
      View Details

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      Retail and office spaces available with high traffic and signage.
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    Similar Nearby for Lease

    • Contact for pricing
      5,400 SF

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      Office building for lease with easy highway access.
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      View Details
    • $26 SF/Yr
      65,780 SF

      Crofton Medical Office Space for Lease

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      5,142 SF

      Professional Office Space Available

      Professional office space with flexible lease terms in Crofton, MD.
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      View Details
    • Contact for pricing
      10,000 SF

      Crofton Drive-Thru Retail Space

      Prime Crofton location, 2,000 SF available.
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      Crofton Medical Office Space For Lease

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      Flex Office/Warehouse Space Available

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    1655 Crofton Blvd
    Crofton, MD 21114
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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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