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    203 Romancoke Rd Stevensville, MD 21666
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    Property profile & analytics

    203 Romancoke Rd Stevensville, MD 21666

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    • Office buildings
    • 10,240 SF
    • 1.28 lot acres
    For Sale
    View Listing →
    Stevensville Office Space For Lease For Sale
    Contact for pricing

    Stevensville Office Space For Lease

    First-floor office, updated, ample parking.

    203 Romancoke Rd, Stevensville, MD 21666
    View Listing
    Property ID
    US40-0667445
    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

    • Holmes Pittman Haraguchi, LLP / Law Firm
    • Mason Marine Surveyors Inc / Marine Surveyor
    • Greater Washington Metropolitan Psychiatry / Medical Clinic
    • Harris Marine Financing / Loan Service
    • ServiceMaster Chesapeake / Commercial Cleaning Service / Carpet Cleaning Service

    Property Details for 203 Romancoke Rd

    Year built
    1988
    Construction
    FRAME
    Lot size
    1.28 lot acres
    Property size
    10,240 SF
    Zone code
    UC
    Property type
    Office buildings
    APN
    04-076923
    APU
    4076923

    Description

    This exceptional office space, located at 203 Romancoke Road in Stevensville, Maryland, presents a fantastic opportunity for businesses seeking a well-maintained and conveniently located workspace. Situated within the Airport Center, this first-floor unit boasts two generously sized rooms, each providing ample space for various business needs. A significant advantage is the inclusion of a private bathroom within the unit, ensuring privacy and convenience for occupants. Recent upgrades have enhanced the property's appeal, featuring brand new flooring throughout and modern bathroom fixtures. The property is complemented by a spacious parking lot, offering plentiful parking for employees, clients, and visitors, eliminating parking concerns often associated with commercial properties. The 1.28-acre lot provides ample space and a sense of openness. The unit's size is not currently specified, but interested parties are encouraged to inquire for further details. This property is ideally suited for a variety of businesses seeking a comfortable, updated, and conveniently located office space in Stevensville, MD. The strategic location within the Airport Center offers easy access to major transportation routes, further enhancing its appeal. Don't miss this chance to secure this prime office space. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,275,000
      6.5%
      $1,180,000
      7%
      $1,095,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $597,000
      Market price range: $597k - $1.84M

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

    Location Insight

    • Map
    • Local Demand
    City
    Stevensville
    County
    Queen Anne's
    State
    Maryland
    Longitude
    -76.3243
    Latitude
    38.974
    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
    $6,516
    $578,700
    $113,000
    $691,700
    -
    $578,700
    $113,000
    $691,700

    Comparable in this City

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      401 Log Canoe Cir, Unit 28

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      720 SF

      107 Saint Claire Pl

      OFFICE BUILDING • 720 SF
      107 Saint Claire Pl, Stevensville, MD 21666-2164
      View Details
    • Value Estimation
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      21,500 SF

      235 Log Canoe Cir

      OFFICE BUILDING • 21,500 SF
      235 Log Canoe Cir, Stevensville, MD 21666-2165
      View Details
    • Value Estimation
      $505,000
      2,992 SF

      1220 Sonny Schulz Blvd

      OFFICE BUILDING • 2,992 SF
      1220 Sonny Schulz Blvd, Stevensville, MD 21666-3748
      View Details
    • Value Estimation by Request
      1,530 SF

      307 Main St

      OFFICE BUILDING • 1,530 SF
      307 Main St, Stevensville, MD 21666-4003
      View Details

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      1.28 Acres

      Stevensville Office Space For Lease

      First-floor office, updated, ample parking.
      203 Romancoke Rd, Stevensville, MD 21666
      View Details

    Similar Nearby for Lease

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      Retail or office space with high traffic and visibility.
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      National retail shopping center and neighborhood office building for lease.
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    View Listing
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    Stevensville, MD 21666
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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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    203 Romancoke Rd, Stevensville, MD, 21666
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