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    1721 Race St Cambridge, MD 21613-3052
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    Property profile & analytics

    1721 Race St, Cambridge, MD 21613-3052

    View on Map
    • Retail space
    • 4,000 SF
    • 0.24 lot acres
    Off-Market
    Property ID
    US40-2295837
    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
    $705,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hello Beautiful LLC Hair Salon / Hair Salon
    • To Dye / Hair Salon / Nail Salon
    • Emily's Grill Kitchen / Restaurant
    • Taqueria Floritas / Restaurant
    • Fingerprints Nail Salon / Hair Salon / Nail Salon

    Property Details for 1721 Race St

    Year built
    1991
    Construction
    BRICK
    Lot size
    0.24 lot acres
    Zone code
    C-2
    Property type
    Retail space
    APN
    07-150296
    APU
    7150296

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 23, 2023 $430,000 Xiu H Liu Rhonda Wegner LLC Deed $323k · State Employees Cu
    Nov 9, 2018 — Rhonda Wegner LLC Boosalis,chris & Isabel Grant Deed · related —
    Oct 2, 2018 $360,000 Rhonda Wegner LLC Boosalis,chris & Isabel Grant Deed —
    Jan 28, 2015 — Chris Boosalis Boosalis,chris & Michael E Quit Claim Deed · related —
    Apr 28, 2009 — Michael E Boosalis Boosalis,michael E Quit Claim Deed · related —
    Apr 11, 2003 $360,000 Chris Boosalis R & S Corp Grant Deed $275k · Severn Savings Bank Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $705,000
      Market price range: $293k - $991k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $655,000
      Current use
      COMMERCIAL (GENERAL)
      $570,000
      Change: -13% Conversion: Easy
      OFFICE BUILDING
      $540,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cambridge
    County
    Dorchester
    State
    Maryland
    Longitude
    -76.0861
    Latitude
    38.5472
    CBSA code
    15700
    CBSA name
    CAMBRIDGE, MD MICROPOLITAN 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
    $5,932
    $0.00
    $0.00
    $327,067
    -
    $51,700
    $281,500
    $333,200

    Comparable in this City

    • Value Estimation
      $555,000
      2,240 SF

      3001 Ocean Gtwy

      RETAIL STORES (PERSONAL SERVICES)
      3001 Ocean Gtwy, Cambridge, MD 21613-3445
      View Details
    • Value Estimation by Request
      1,200 SF

      722 Race St

      RETAIL STORES (PERSONAL SERVICES)
      722 Race St, Cambridge, MD 21613-2352
      View Details
    • Value Estimation by Request
      1,330 SF

      416 High St

      RETAIL STORES (PERSONAL SERVICES)
      416 High St, Cambridge, MD 21613-1805
      View Details
    • Value Estimation by Request
      2,088 SF

      406 Race St

      RETAIL STORES (PERSONAL SERVICES)
      406 Race St, Cambridge, MD 21613-1836
      View Details
    • Value Estimation
      $1,025,000
      8,280 SF

      5 Washington St

      RETAIL STORES (PERSONAL SERVICES)
      5 Washington St, Cambridge, MD 21613
      View Details
    • Value Estimation by Request
      720 SF

      Cambridge, MD 21613

      RETAIL STORES (PERSONAL SERVICES)
      Cambridge, MD 21613
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,600 SF

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      Entitled pad site for a 2,600 SF drive-thru building.
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      View Details
    • Contact for pricing

      Mixed-Use Property Near Downtown Cambridge

      Commercial property with apartment and business opportunity near Route 50.
      503 Maryland Ave, Cambridge, MD 21613
      View Details
    • Contact for pricing

      Commercial Property on Route 50

      Commercial property suitable for retail or commercial use.
      2906 Ocean Gtwy, Cambridge, MD 21613
      View Details
    • Contact for pricing

      Renovated Shopping Center on Route 50

      Prime shopping center on U.S. Route 50 in Cambridge, MD.
      620 Sunburst Hwy, Cambridge, MD 21613
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,350 SF

      Retail Space on Sunburst Highway

      Retail space with high visibility and recent renovations.
      604-630 Sunburst Hwy, Cambridge, MD 21613
      View Details
    • Contact for pricing
      5,217 SF

      Retail Space on Major Highway

      Highly visible retail space with recent renovations and high traffic.
      602 Sunburst Hwy, Cambridge, MD 21613
      View Details
    • $16 SF/Yr
      213,880 SF

      Retail Space in Cambridge, MD

      Prime retail space in grocery-anchored shopping center on U.S. Route 50.
      630 Sunburst Hwy, Cambridge, MD 21613
      View Details
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    Cambridge, MD 21613-3052
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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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