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    2015 Greenspring Dr Timonium, MD 21093-4115
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    Property profile & analytics

    2015 Greenspring Dr, Timonium, MD 21093-4115

    View on Map
    • Distribution centers
    • 27,090 SF
    • 2.01 lot acres
    Off-Market
    Property ID
    US40-0910614
    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
    $2,330,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2015 Greenspring Dr

    Year built
    1969
    Construction
    BRICK
    Lot size
    2.01 lot acres
    Zone code
    ML
    Property type
    Distribution centers
    APN
    08-0813000130
    APU
    80813000130

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 30, 2026 $3,000,000 Lll Real Estate LLC Mcardle & Walsh Incorporated Deed —
    — — Mcardle & Walsh INC — Deed Of Trust · related $460k · Individual

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,975,000
      6.5%
      $2,745,000
      7%
      $2,550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,432,000
      Market price range: $618k - $4.49M

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

    Location Insight

    • Map
    • Local Demand
    City
    Timonium
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6297
    Latitude
    39.4368
    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
    $11,725
    $978,800
    $815,900
    $1,794,700
    -
    $978,800
    $815,900
    $1,794,700

    Comparable in this City

    • Value Estimation by Request
      12,032 SF

      1908 York Rd

      DISTRIBUTION WAREHOUSE
      1908 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Value Estimation
      $5,345,000
      58,741 SF

      2230 Greenspring Dr

      DISTRIBUTION WAREHOUSE
      2230 Greenspring Dr, Lutherville Timonium, MD 21093-3114
      View Details
    • Value Estimation
      $18,050,000
      86,520 SF

      16 Aylesbury Rd

      DISTRIBUTION WAREHOUSE
      16 Aylesbury Rd, Lutherville Timonium, MD 21093-4104
      View Details
    • Value Estimation
      $20,285,000
      74,900 SF

      1940 Greenspring Dr

      DISTRIBUTION WAREHOUSE
      1940 Greenspring Dr, Timonium, MD 21093-4148
      View Details
    • Value Estimation
      $2,115,000
      19,900 SF

      1830 York Rd

      DISTRIBUTION WAREHOUSE
      1830 York Rd, Timonium, MD 21093-5115
      View Details
    • Value Estimation
      $3,040,000
      18,836 SF

      1919 Greenspring Dr

      DISTRIBUTION WAREHOUSE
      1919 Greenspring Dr, Lutherville, MD 21093-4113
      View Details

    Similar Nearby for Sale

    • $600,000

      High Visibility Office Space For Sale

      Office space with high traffic and flexible configuration.
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    • $450,000

      Residential Office Building on Corner

      Residential office building on corner lot with parking.
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    • $1,200,000

      Prime Commercial Land For Sale

      0.66-acre site ideal for retail, office, or medical use.
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    • $2,200,000
      10,999 SF

      Historic Estate with Skyline Views

      Circa 1854 estate with views, stone cottage, and pool.
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    Similar Nearby for Lease

    • Contact for pricing

      Timonium Exchange Prime Location

      Located on Greenspring Drive, offering easy access and visibility.
      2125 Greenspring Dr, Timonium, MD 21093
      View Details
    • Contact for pricing
      6,004 SF

      Timonium Flex Space Available

      3,450 SF flex space with docks and drive-ins.
      7 W Aylesbury Rd, Timonium, MD 21093
      View Details
    • Contact for pricing

      Flex/Office Space in Lutherville-Timonium

      Up to 25,000 SF of flex/office space for lease.
      1919 Greenspring Dr, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      25,200 SF

      Lutherville-Timonium Industrial Space Available

      4,200 SF industrial space for rent in Lutherville-Timonium, MD.
      1946 Greenspring Dr, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      4,500 SF

      Timonium Flex Space Available

      Flex space with showroom, conditioned warehouse, and dock door.
      2125-2249 Greenspring Dr, Timonium, MD 21093
      View Details
    • Contact for pricing
      15,634 SF

      Lutherville Timonium Warehouse Space Available

      Warehouse/industrial property with easy access to major transportation routes.
      2032 Greenspring Dr, Lutherville Timonium, MD 21093
      View Details
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    Timonium, MD 21093-4115
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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.

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