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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2045 York Rd Lutherville Timonium, MD 21093

    • Office buildings
    • 14,829 SF
    • 0.73 lot acres
    For Lease
    View listing
    Last Sale
    Jan 19, 2023
    $3,060,000
    Value Estimations
    $3,030,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2132805
    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

    • Hazlett Richard PhD / Psychologist
    • J Doerfler Insurance Services / Insurance Agency
    • Frank N Lotman Insurance Inc / Insurance Agency
    • Group Benefit Review / Insurance Agency
    • Doerfler Insurance Services / Insurance Agency

    Property Details for 2045 York Rd

    Year built
    1985
    Construction
    BRICK
    Lot size
    0.73 lot acres
    Property size
    14,829 SF
    Zone code
    BL
    Property type
    Office buildings
    APN
    08-0814090130
    APU
    80814090130

    Description

    This exceptional 3,900 square foot executive office space is ideally situated at 2045 York Road in Timonium, Maryland, zip code 21093. The property boasts a single-tenant occupancy, offering complete control and privacy for your business. The entire space is currently vacant and ready for immediate occupancy, allowing for seamless customization to perfectly suit your company's needs. Classified as Retail and Office, this property is zoned BL (Business Local) within Baltimore County, providing flexibility for a variety of professional uses. The building's total square footage is 3,900 square feet, all of which is available for lease. Its convenient location in Timonium offers excellent accessibility and visibility, making it an attractive option for businesses seeking a prominent presence in a thriving commercial area. The property is ready for immediate lease and presents a unique opportunity for a business seeking a well-located, spacious, and adaptable office environment. Interested parties are encouraged to inquire promptly to secure this exceptional space. The property's address is 2045 York Road, Timonium, MD 21093. Geographic coordinates are 39.4381698 latitude and -76.6247853 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,709,000
      Market price range: $2.30M - $5.23M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,520,000
      Current use
      COMMERCIAL (GENERAL)
      $4,930,000
      Change: +40% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,835,000
      Change: +9% Conversion: Difficult
      MEDICAL BUILDING
      $3,370,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $3,160,000
      Change: -10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lutherville Timonium
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.6245
    Latitude
    39.4382
    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
    $11,953
    $0.00
    $0.00
    $1,897,933
    -
    $797,500
    $1,146,300
    $1,943,800

    Comparable in this City

    • Value Estimation
      $4,945,000
      43,802 SF

      30 Padonia Rd

      OFFICE BUILDING • 43,802 SF
      30 Padonia Rd, Timonium, MD 21093-2345
      View Details
    • Value Estimation
      $800,000
      3,706 SF

      200 Padonia Rd

      OFFICE BUILDING • 3,706 SF
      200 Padonia Rd, Lutherville Timonium, MD 21093-6922
      View Details
    • Value Estimation
      $3,360,000
      22,142 SF

      1810 Pot Spg Rd

      OFFICE BUILDING • 22,142 SF
      1810 Pot Spg Rd, Lutherville, MD 21093
      View Details
    • Value Estimation by Request
      560 SF

      2340 York Rd

      OFFICE BUILDING • 560 SF
      2340 York Rd, Lutherville, MD 21093-2216
      View Details
    • Value Estimation by Request
      1,400 SF

      1 Aylesbury Rd

      OFFICE BUILDING • 1,400 SF
      1 Aylesbury Rd, Timonium, MD 21093
      View Details
    • Value Estimation
      $3,045,000
      10,640 SF

      2300 York Rd

      OFFICE BUILDING • 10,640 SF
      2300 York Rd, Timonium, MD 21093-2271
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Boutique Office/Retail Building For Sale

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      Lutherville Office Building For Sale

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      High Visibility Office Space For Sale

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      Specialty Property For Sale

      Specialty property available for purchase.
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      Timonium Specialty Property For Sale

      Specialty property available for purchase in Timonium, Maryland.
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    Similar Nearby for Lease

    • $29 SF/Yr
      6,000 SF

      Greenspring Station Office/Medical Building

      Office/medical building in Greenspring Station area, excellent signage opportunities.
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      York Road Office Space

      Affordable office space with high visibility and ample parking.
      1923 York Rd, Lutherville Timonium, MD 21093
      View Details
    • Contact for pricing
      74,900 SF

      1940 Greenspring Dr

      Distribution properties • 74,900 SF
      1940 Greenspring Dr, Timonium, MD 21093
      View Details
    • $28 SF/Yr
      17,568 SF

      Office Space with Atrium

      Office space featuring an atrium, balconies, and a restaurant.
      9690 Deereco Rd, Lutherville Timonium, MD 21093
      View Details
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      York Road Office Building Investment

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    • Contact for pricing
      2,000 SF

      Office Space with Ample Parking

      Office space for rent with high visibility and access.
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    2045 York Rd
    Lutherville 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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