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    1954 Greenspring Dr Timonium, MD 21093
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    Property profile & analytics

    1954 Greenspring Dr, Timonium, MD 21093

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    • Office buildings
    • 177,928 SF
    • 7.01 lot acres
    For Lease
    $22,500,000
    View Listing →
    Office Space For Lease For Lease
    $22,500,000

    Office Space For Lease

    Office space available for lease in Timonium, Maryland.

    1954 Greenspring Dr, Timonium, MD 21093
    View Listing
    Property ID
    US40-0998295
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lawyers Trust Title Company / Title Company
    • Timonium Cafe & Deli / Restaurant
    • Timonium Surgery Center LLC / Medical Clinic / Hospital
    • Mia Trionfo, Financial Professional - New York Life / Insurance Agency
    • Gilman & Bedigian, LLC. / Law Firm

    Property Details for 1954 Greenspring Dr

    Year built
    2000
    Construction
    BRICK
    Lot size
    7.01 lot acres
    Zone code
    ML-IM
    Property type
    Office buildings
    APN
    08-2100000339
    APU
    82100000339

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    — — Merritt Of Bavar-td1 LLC — Deed Of Trust · related $768k · Merritt/bavar-td LLC

    Description

    This exceptional Class A office building, Timonium Two (TD4), located at 1954 Greenspring Drive in Timonium, Maryland, offers a prime opportunity for businesses seeking executive office space in the Route 83 Corridor South submarket. The seven-story building boasts a total of 200,000 square feet, with 52,650 square feet currently available for lease. Suites range from a minimum of 1,224 square feet to a maximum contiguous space of 13,862 square feet, providing flexibility for various business needs. The building features impressive 9-foot ceilings throughout, creating a spacious and modern work environment. Ample parking is available with a total of 1008 spaces, including 400 convenient deck parking spots. The property is situated in Baltimore County, Maryland, zip code 21093, offering easy access to major transportation routes and amenities. This multi-tenant building provides a professional setting ideal for executive offices and other professional services. The available space presents a unique chance to establish a presence in a highly desirable location within a well-maintained, modern structure. Contact us today to learn more about leasing options and explore the possibilities of making this prestigious address your new business home.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $28,310,000
      Market price range: $27.6M - $62.7M
      AI Estimate
      $16,687,000
      Market price range: $6.88M - $39.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lutherville Timonium
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6325
    Latitude
    39.4334
    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
    $309,583
    $0.00
    $0.00
    $19,828,667
    -
    $4,505,000
    $15,609,400
    $20,114,400

    Comparable in this City

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    • Value Estimation
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      21,840 SF

      12201 Tullamore Rd, Unit 12213

      OFFICE BUILDING
      12201 Tullamore Rd, Timonium, MD 21093-7816
      View Details
    • Value Estimation
      $11,065,000
      81,717 SF

      2311 York Rd

      OFFICE BUILDING
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      View Details
    • Value Estimation by Request
      941 SF

      10829 Fls Rd

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      10829 Fls Rd, Lutherville Timonium, MD 21093-4502
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    • Value Estimation
      $3,275,000
      19,000 SF

      10807 Fls Rd

      OFFICE BUILDING
      10807 Fls Rd, Lutherville, MD 21093-4591
      View Details
    • Value Estimation
      $770,000
      2,700 SF

      1953 Greenspring Dr

      OFFICE BUILDING
      1953 Greenspring Dr, Timonium, MD 21093-4113
      View Details

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      Boutique Office/Retail Building For Sale

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      Prime Commercial Land For Sale

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    Similar Nearby for Lease

    • $3 SF/Yr

      Lutherville Office Space For Rent

      Four-building office complex near I-695 and public transportation.
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    • Contact for pricing
      5,184 SF

      Class A Office Building

      Class A office building with easy access and modern amenities.
      1954 Greenspring Dr, Timonium, MD 21093
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building in Lutherville, Maryland for rent.
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      Timonium Office Space for Lease

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      View Details
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      Lutherville Office Building for Lease

      Three-story office building in Lutherville, Maryland, with convenient access.
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      View Details
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      Lutherville Office Space for Lease

      Newly renovated office building in Lutherville-Timonium with modern upgrades.
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      View Details
    View Listing
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    Timonium, MD 21093
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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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